US Vice President and Democratic presidential candidate Kamala Harris (R) and former US President and Republican presidential candidate Donald Trump speak during a presidential debate in Philadelphia, Pennsylvania, on September 10, 2024
US Vice President and Democratic presidential candidate Kamala Harris speaks during a presidential debate with former US President and Republican presidential candidate Donald Trump at the National Constitution Center in Philadelphia, Pennsylvania, on September 10, 2024. AFP

KEY POINTS

  • Some observers are unsure who won the debate, but some said Harris took the victory because she came 'prepared'
  • Trump Media's stock price plunged by over 17% early Wednesday
  • Many Trump-themed tokens bled throughout Wednesday as people continued discussing the debate

The first presidential debate between Vice President Kamala Harris and former president Donald Trump was a spectacle for the world, drawing reactions such as "abysmal" and "disastrous." It appears PolitiFi memecoins were affected too, as Trump-themed tokens plunged throughout Wednesday.

Observers have spoken, and while supporters from both sides picked their own candidate, a growing number of observers noted that the debate leaned in favor of Harris, who received Taylor Swift's endorsement after the face-off. Political observers particularly pointed out how Harris appeared more "prepared" than her GOP counterpart.

Many of the Trump's supporters said ABC News, which set the stage for the debate, criticized the outlet for allegedly constantly cutting off the business mogul and fact-checking him without doing the same when Harris supposedly made false statements.

Others were unsure who actually won, with some saying that neither candidate expanded on their policies on an in-depth level, and neither of the presidential aspirants nailed questions on the economy.

Trump Media Stocks Hit

In the wake of the debate, Trump Media's share price plummeted by over 17% early Wednesday. Trump is a majority shareholder of the company.

In contrast, some clean energy conglomerates saw price upticks, including First Solar, which climbed nearly 7% in early trading Wednesday, and Invesco Solar ETF, which spiked by 4.59% Wednesday morning. Notably, Harris spoke about U.S. investments into clean energy during the debate.

Trump-Based PolitiFi Memecoins Take Hard Hit

It wasn't just Trump Media that appeared affected by the debate. PolitiFi memecoins based on the Republican presidential nominee, with only a few of them surviving Wednesday's bloodbath.

Even the once mighty MAGA (TRUMP) was down by over 2% in the past day on the back of a week-long slump, data from CoinGecko showed. MAGA, TREMP, and STRUMP all plunged by more than 9% Wednesday.

PolitiFi memecoins late Sept 11 2024
Many Trump-themed coins were already suffering a slump in the past seven days. CoinGecko

MAGAA shed 15.7% throughout the day, and quite interestingly, Harris-based Kamala Horris (KAMA) also bled 22.6% a day after the debate.

PolitiFi memecoins late Sept 11 2024
Only a few Trump-based tokens were in the green Wednesday. CoinGecko

Most other Trump-themed tokens bled by two digits, including MVP (23.7%), TRUMPCOIN (11.3%), DTI (26.6%), TMANIA (16.5%), TRUMPIE (11.4%), and MAPE (14.6%).

PolitiFi memecoins late Sept 11 2024
Even popular Trump-themed memecoins suffered in the last 24 hours. CoinGecko

Trump Calls for Cancelation of ABC News License

Following the debate, Trump called on the removal of ABC News' license to operate. "I think ABC took a big hit last night," he said, adding that the news service's debate moderators "corrected" him six times, while Harris didn't get such corrections when she supposedly made dishonest statements. "I think they lost a lot of credibility," he said.

Bitcoin and cryptocurrency didn't come up during the debate – a matter that some crypto bettors on decentralized prediction platform Polymarket were anticipating.

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