Trump tokens plummet amid lackluster debate performance
In the past 12 hours, the cryptocurrency fashioned after Donald Trump, known as MAGA (TRUMP), has seen its value plummet by 15% following an underwhelming performance during the presidential debate on September 10.
Before engaging in a debate with his Democratic opponent Kamala Harris, TRUMP reached a daily zenith of $3.42. However, as the debate progressed and Trump's demeanor grew increasingly unsettled, its value dropped to $2.89. Since reaching a peak of $17.51 on June 1, the meme coin has plunged by approximately 83%.
Similarly impacted, other Trump-related tokens, albeit not directly associated, such as MAGA Hat (MAGA), experienced an even steeper fall, nosediving over 18%.
Concurrently, Bitcoin witnessed a 1.7% dip during the debate, slumping to $56,746 at the current moment.
Donald Trump's presentation fell short of expectations, with a noticeable lack of the dynamism and enthusiasm that characterized his Make America Great Again campaign.
Adam Cochran from CHEV remarked on Trump's lackluster showing, suggesting that the campaign seems to be taking its toll on Trump. He's showing signs of fatigue and appears on the defensive.
Economist and trader, Alex Krüger, shared a somewhat similar view, noting Harris' composed and authoritative demeanor, in stark contrast to Trump, who seemed irritable and at times, unhinged. He also concurred with the predominant view that the debate moderators showed a bias towards Kamala.
Peter Schiff, known for his critical economic viewpoints, labeled the event a disgrace, criticizing the hosting network ABC for overlooking critical issues such as the spiraling national debt, the inflated cost of debt servicing, uncontrollable entitlement expenditures, high inflation, rising unemployment, record consumer debt, and all-time low savings rates.
