RFK Jr Exits Presidential Race As Trump Themed Meme Coins Soar

Recent reports indicate that Robert F. Kennedy Jr. is expected to no longer participate in the 2024 US Presidential Election. This news has caused PolitiFi tokens to increase by over 15% in the past 24 hours. While tokens related to RFK Jr. have decreased, Trump-themed meme coins have surged by 40%.

Moreover, it is becoming increasingly likely that Trump will end up winning the election and become United States President once again, especially since Kamala Harris has not done herself any favors by recently stating she will appoint SEC Chair Gary Gensler as Treasury Secretary if she wins.

Endorsing Trump

During this election cycle, meme coins have become a prominent narrative, with the crypto community closely tracking events through these tokens, including the forthcoming November US presidential elections.

Policies surrounding cryptocurrencies have become increasingly important among voters, especially since the Biden administration has often taken stringent regulatory actions against the industry. Consequently, candidates who support crypto have garnered substantial backing by the crypto community.

RFK Jr. has been a notable supporter of Bitcoin and blockchain technology throughout his campaign. However, recent reports suggest he will exit the race and endorse former President Donald Trump. Trump has recently engaged with the crypto industry and has begun accepting various cryptocurrencies for donations.

MAGA Skyrockets

Trump-themed meme coins have led the surge, with PolitiFi tokens rising by 15.5% in the last day. The leading Trump-themed token, MAGA (TRUMP), experienced a significant increase. After a drop in value since late July, when it traded above $6, TRUMP had fallen to below $3 following market declines in August, marking a 41.5% decrease over the past month.

Nevertheless, TRUMP surged by 55.6% to approximately $4.14 on Thursday, currently trading at $3.70, reflecting a 40% rise in the last 24 hours. Other meme coins associated with Donald Trump also saw notable gains.