The vast world of the internet has a knack for turning any situation, whether serious or lighthearted, into a spectacle.
A recent example of this phenomenon unfolded in the cryptocurrency markets on September 15 and 16, as an obscure meme coin named SWIFTIES experienced a sharp 9.25% drop from $0.02863 to $0.02417.
This sudden decline was driven by a peculiar series of events. It all began with Taylor Swift endorsing Vice President Kamala Harris after a recent debate. Shortly after, former President Donald Trump expressed his disdain for Taylor Swift on his social media platform, Truth Social.
These developments led to online communities jokingly attributing the assassination attempts on Trump to Swifties, Taylor Swift’s fans. Memes insinuating a murder plot circulated online, causing the SWIFTIES meme coin to plummet.
Despite the surreal chain of events and the viral conspiracy theories, it’s unlikely that this incident will spark a new cryptocurrency trend. Interestingly, SWIFTIES had been trending positively in recent trades, showing a 13.78% increase in the 7-day chart despite the sudden drop.
As of now, SWIFTIES has a modest 24-hour trading volume of $2,000, with a total market cap just over $240,000. This Taylor Swift-inspired coin is part of a larger economic disturbance affecting assets linked to various figures involved in the Trump assassination attempt and the 2024 presidential race.
Meanwhile, another meme coin linked to Kamala Harris, Kamala Horris (KAMA), has experienced a 5.59% decline in the past 24 hours and over 20% in the weekly chart. On the flip side, the fluctuating fortunes of KAMA provide an interesting parallel to Trump Media’s stock performance post-attack.
The recovery of DJT stock after the recent events indicates continued support for Trump from his followers. This dynamic market situation reflects the broader impact of political events on financial markets. Remember, all investments carry risk and speculative nature, and caution should be exercised.