Everybody knows crypto has always been tied to trends in the real world, especially in the political space. But this time, it took this one step further. The 2024 US presidential election campaign is probably the biggest political news currently, and President Biden's surprise announcement shocked everyone everywhere, even in the crypto world.

Related: Donald Trump Says Fourth NFT Collection Is Coming Even As Crypto Donations Keep Coming

President Biden’s announcement that he would not be continuing his re-election campaign crashed the hopes of his supporters but ironically boosted the performance of Trump meme coins. 

Reports showed that Solana-based Trump meme coins like Donald Tremp (TREMP) and TrumpCoin (DJT) increased in price after the announcement. TREMP's price rose 10.5% to $0.54, and DJT's rose 6.5%, all thanks to Trump’s biggest rival.

Even though they are the biggest rivals, Biden did Trump coins a solid. The boost also reached the Trump meme coins on Ethereum, as Maga Hat rose by more than 7%. Who says rivals can’t help each other out?

Unfortunately for Biden, all the good luck seems to be going to the Trump coins, as Biden meme coins have gone the opposite way. The most significant drop in Biden meme coins was Jeo Boden (BODEN). The Solana-based meme coin dropped as low as 60.11% within 24 hours of the announcement, hitting an all-time low in its entire trading existence. 

That drop saw nearly $10 million wiped from BODEN’s market cap, which was about $15 million just days before the announcement. It shows how heartbroken Biden’s supporters are about his dropping out. 

But it’s not all bad news though. As Biden passed the baton to Kamala Harris, he also seemed to have passed some of that good luck. Kamala Harris meme tokens also got that boost Biden has been passing around.

Many tokens associated with Vice President Kamala Harris also saw a price surge. For one, the “Kamala Horris” coin had a good weekend, surging by more than 100% as speculations rose that she might just be the next official Democratic candidate. 

For now, however, the Democratic party has not officially declared a candidate. So far, only Biden's endorsement of Kamala has skyrocketed her meme coins. That makes one wonder what will happen if she is officially announced as the party’s candidate.

But amidst all these happenings, it is undoubtedly a good time for meme coins as they show they can compete with the big boys of crypto, too. It is also certainly a good time for Trump, who is getting his biggest rival out of the way as he looks to secure his second term in the US presidency. 

More Info: MugShot NFTs: Inside Trump's NFT World and $4,653 Dinner Delights

However, the true winners are the holders of Trump meme coins. From Tremp to DJT, these meme coins have had a good run for a while, and with Trump's boosted chances, they may finally be getting their time to shine.

Disclaimer: All materials on this site are for informational purposes only. None of the material should be interpreted as investment advice. Please note that despite the nature of much of the material created and hosted on this website, HODL FM is not a financial reference resource and the opinions of authors and other contributors are their own and should not be taken as financial advice. If you require advice of this sort, HODL FM strongly recommends contacting a qualified industry professional.