- "Fake" Trump-themed token RTR declined 90% after alleged insider wallets withdrew over $5 million worth of its supply.
- PolitiFi meme coins themed after candidates Donald Trump and Kamala Harris rallied.
- Polymarket data shows that Donald Trump leads in presidential race odds after a brief tie with Kamala Harris.
Political meme coins based on presidential candidates Donald Trump and Kamala Harris rallied on Thursday as Polymarket data shows heavy competition among supporters. Meanwhile, a recently launched token, RTR, themed after Donald Trump, drew the attention of crypto community members after declining over 90%.
Kamala and Trump-themed tokens surge amid RTR’s dump
PolitiFi meme coins based on Republican and Democrat nominees Donald Trump and Kamala Harris rallied on Thursday as both parties saw their odds on the prediction market Polymarket rise as the upcoming presidential election draws closer.
Kamala Horris (KAMA) and Super Trump (STRUMP) increased by 48% and 21%, respectively. The uptick in the tokens' prices comes after Kamala Harris briefly tied Donald Trump in Polymarket odds for the potential election winner. However MAGA (TRUMP) is down nearly 9%.
Both nominees were at loggerheads on Polymarket, tied at 49% before Trump regained the upper hand at 50%. However, the Democrat nominee still sees increased support from bettors, as voters anticipate a possible debate between the candidates in September.
Meanwhile, RTR, another Trump-themed token, has garnered the crypto community's attention after an alleged rug pull following a dump from insider wallets. The meme coin was created earlier today and funded by certain wallets with $882K worth of SOL, Lookonchain data reveals.
After the token rallied briefly, the wallets quickly sold their holdings, shedding 92.77M RTR for 31,994 SOL worth $5.05 million and making a profit of 26,414 SOL worth $4.17 million.
5 Insider Wallets Earned Over $4M on $RTR in Just 6 Hours!$RTR is a new #MEMEcoin created 6 hours ago.
— Lookonchain (@lookonchain) August 8, 2024
5 wallets spent ~5,580 $SOL($882K) to buy 104.64M $RTR the first time $RTR opened trading, and sold 92.77M $RTR for 31,994 $SOL($5.05M), making 26,414 $SOL($4.17M).
These 5… pic.twitter.com/oAEZFeYE39
The RTR token had already garnered $150 million in volume before Donald Trump’s son Eric Trump, the executive vice president of the Trump Organization, dissociated the former president's campaign from the meme coins. "Beware of fake tokens! The only official Trump project has NOT been announced! You will hear it here first," Eric wrote on X.
RTR plummeted over 90% following the announcement. IceBagz, co-founder of Kanpai Pandas NFTs, is allegedly behind RTR's creation, wrote JupiterSlorg in an X post.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Top 3 gainers Supra, Cosmos Hub, EOS: Supra leads recovery after Trump’s tariffs announcement
Supra’s 25% surge on Friday calls attention to lesser-known cryptocurrencies as Bitcoin, Ethereum and XRP struggle. Cosmos Hub remains range-bound while bulls focus on a potential inverse head-and-shoulders pattern breakout.
Bitcoin Weekly Forecast: Tariff ‘Liberation Day’ sparks liquidation in crypto market
Bitcoin price remains under selling pressure around $82,000 on Friday after failing to close above key resistance earlier this week. Donald Trump’s tariff announcement on Wednesday swept $200 billion from total crypto market capitalization and triggered a wave of liquidations.
Can Maker break $1,450 hurdle as whales launch buying spree?
Maker is back above $1,300 on Friday after extending its lower leg to $1,231 the previous day. MKR’s rebound has erased the drawdown that followed United States President Donald Trump’s ‘Liberaton Day’ tariffs on Wednesday, which targeted 100 countries.
Gold shines in Q1 while Bitcoin stumbles
Gold gains nearly 20%, reaching a peak of $3,167, while Bitcoin nosedives nearly 12%, reaching a low of $76,606, in Q1 2025. In Q1, the World Gold ETF's net inflows totalled 155 tonnes, while the Bitcoin spot ETF showed a net inflow of near $1 billion.
Bitcoin: BTC remains calm before a storm
Bitcoin's price has been consolidating between $85,000 and $88,000 this week. A K33 report explains how the markets are relatively calm and shaping up for volatility as traders absorb the tariff announcements. PlanB’s S2F model shows that Bitcoin looks extremely undervalued compared to Gold and the housing market.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.