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Trump-related meme coins rally following high Polymarket odds and endorsement from Elon Musk

source-logo  fxstreet.com 08 October 2024 04:38, UTC
  • PolitiFi meme coins named after Donald Trump saw double-digit gains following a surge in his Polymarket odds.
  • Trump's gap widened over Harris on Polymarket after the platform received an endorsement from Elon Musk.
  • MAGA and SUPER TRUMP rallied over 30% in the past 24 hours.

Polymarket data on Monday revealed that Donald Trump's odds over Kamala Harris in the presidential race surged to 54%, establishing an 8% lead for the Republican candidate. Following the lead, Trump-based meme coins saw double-digit gains.

Donald Trump's lead on Polymarket spark surge in PolitiFi meme coins

Republican candidate Donald Trump secured an 8% lead over Kamala Harris in prediction marketplace, Polymarket, on Monday. The 54% to 45.5% gap is Trump's highest lead since Harris took over the Democratic spot.

Trump's recent lead follows Tesla and SpaceX billionaire CEO Elon Musk's indirect endorsement of Polymarket in an X post on Monday. Musk wrote that Polymarket odds are more accurate than election polls "as actual money is on the line."

The billionaire also jokingly suggested in a recent interview with political commentator Tucker Carlson that he could be imprisoned if Trump loses the upcoming elections.

Elon Musk is all in.

(0:00) Elon Musk Is All in on Donald Trump
(6:35) Providing Starlink to Victims of Hurricane Helene
(9:22) If Trump Loses, This Is the Last Election
(21:49) The Epstein and Diddy Client List
(33:38) Vaccines
(35:49) The Movement to Decriminalize Crime… pic.twitter.com/jNqB1ThqQz

— Tucker Carlson (@TuckerCarlson) October 7, 2024

Donald Trump's chances also improved following the release of new polling data from Pennsylvania, where he currently leads Harris 56% to 44%.

This shift highlights a growing trend in the state's political landscape, indicating increased support for Trump as the election approaches.

Following the surge in election odds, PolitiFi meme coins rallied on Monday, with Trump-themed tokens rising over 30%.

MAGA and SUPER TRUMP posted gains of 33% and 37%, respectively, indicating increased positive sentiments among crypto investors toward a Trump win in the upcoming elections.

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