MOSCOW, November 6. /TASS/. The price of the Republican candidate Donald Trump-themed memecoin has moved to the negative territory amid the presidential vote in the US as it was down by 8.4% at $3.07 as of 11:30 a.m. Moscow time (08:30 a.m. GMT), according to data of the CoinGecko aggregator.
Previously the memecoin was up by 15.4% at $3.79 after Trump declared a political victory at the presidential election, calling himself the 47th president of the US.
By 11:30 a.m. Moscow time (08:30 a.m. GMT), the price of the memecoin linked to the US president Joe Biden had extended losses to 26.8% to $0.003139.
Meanwhile, the Democratic candidate Kamala Harris-themed memecoin was down by 91.7% at $0.001028.
Memecoin is a cryptocurrency being created as a social experiment. Its price depends on popularity of the phenomenon it is based on. For example, Political Finance (PolitiFi) memecoins are inspired by political figures. The price of memecoins depends on the level of the politician’s support. Cryptocurrencies of this format have no value or modes of application, being a speculative financial instrument.