David Edwards
Meme coins associated with Donald Trump saw a sharp rise after his odds on the Polymarket platform surged, bolstered by an endorsement from Elon Musk. Trump-themed tokens, such as MAGA and SUPER TRUMP, rallied by over 30% in the last 24 hours, reflecting increased confidence among crypto investors.
On Monday, Polymarket data revealed that Donald Trump gained an 8% lead over Kamala Harris, bringing his odds to 54% compared to Harris’s 45.5% in the 2024 U.S. presidential race. This represents Trump’s largest margin since Harris became the Democratic frontrunner. The surge in odds followed Musk’s support for Polymarket, where he claimed that betting markets are more accurate than traditional election polls due to the financial stakes involved.
Additionally, Trump’s rising prospects were fueled by polling data from Pennsylvania, which showed him leading Harris 56% to 44%. This shift indicates growing political support for the Republican candidate.
As Trump’s chances of winning increased, PolitiFi meme coins, specifically MAGA and SUPER TRUMP, experienced significant gains of 33% and 37%, respectively. The market’s response highlights the growing optimism in both political and crypto circles regarding Trump’s electoral performance.
