The MAGA (TRUMP) coin, inspired by Donald Trump, has plummeted by 15% in the last 12 hours following a lackluster display in the presidential debate on September 10.
TRUMP reached a peak value of $3.42 before the debate with Democrat contender Kamala Harris. However, it dropped to $2.89 during the debate as Trump seemed increasingly irritated. After hitting an all-time high of $17.51 on June 1, the coin has experienced a decline of about 83% since then.
Other tokens associated with Trump, such as MAGA Hat (MAGA), suffered even greater losses, dropping over 18%.
Bitcoin also mirrored this downturn, seeing a 1.7% decrease during the debate, settling at $56,746 as of this writing.
Analyzing The Debate
Donald Trump’s debate performance fell short, indicating he may have lost the enthusiasm and spirit of his Make America Great Again (MAGA) campaign.
CHEV partner Adam Cochran remarked that Trump seemed “fizzled out,” suggesting that this campaign is “actually taking a toll on Trump. He’s fatigued and on the defensive.”
It is strange to see Trump so fizzled out.
His flat hair, reduced energy, and when Harris speaks, he looks weary or displeased.
It’s not the animated expressions and vibrant energy seen years ago.
This campaign genuinely seems to be affecting Trump.
He seems tired and on the back foot.
— Adam Cochran (adamscochran.eth) (@adamscochran) September 11, 2024
Economist and trader Alex Krüger partially agreed, noting that Harris appeared “cool and composed,” while Trump seemed “angry, and at times unhinged.” He also concurred with the popular view that the moderators appeared biased towards Kamala.
Gold enthusiast Peter Schiff criticized the debate as a “disgrace,” pointing out that ABC, the hosting network, failed to ask any questions regarding crucial topics such as the national debt, the costs of servicing that debt, out-of-control entitlement spending, rising inflation, increasing unemployment, record-high consumer debt, and record-low savings.
Recent polls indicate that the race for the presidency is extremely close, with both Harris and Trump receiving a 49% support rate from registered voters.
Trump is back ahead.
Narrow margins. pic.twitter.com/VfdUaPOGc0
— Polymarket (@Polymarket) September 11, 2024
Win for Both?
After the debate, both candidates claimed victory, as reported. Trump’s team declared:
“We witnessed President Trump articulate his bold vision for America and how he plans to build upon the achievements of his first term by boosting the economy, securing borders, and combating crime plaguing communities nationwide.”
In contrast, the Kamala Harris camp asserted, “Donald Trump was completely incoherent,” adding:
“Under the bright lights, the American people observed the choice they will confront this fall at the ballot box: moving forward with Kamala Harris or regressing with Trump.”
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