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

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.

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.