Why Trump-Themed Coins are Crashing After US Election Results?

Quick Summary:

Donald Trump’s US election victory on Wednesday and the resulting euphoria failed to boost the price of Trump-themed memecoins, mostly due to so-called ‘sell the news’ trend.

These tokens, which had seen significant gains earlier in the week, dropped by double digits following his win.

Event-driven tokens, such as the PoliFi coins, are highly volatile and connected with political events that tend to swing fast and may make them vulnerable to considerable shifts in value.

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Article Details

Author / Journalist: Teuta Franjkovic

Category: Crypto

Markets: India

Topics: Altcoin News Trump Memecoins Memecoins Donald Trump Crypto 24/7 Cryptocurrency News

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-07 @ 19:13:19 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 509 words

Reading Time: 3 minutes read

Sentences: 39 lines

Sentence Length: 14 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 23464724

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