The internet possesses a strange ability to mock almost any event, be it amusing or seriously troubling.
The most recent illustration of this occurrence unfolded in the realm of cryptocurrency between September 15 and September 16, as a little-known meme coin inspired by Taylor Swift, SWIFTIES, plummeted 9.25% from $0.02863 to $0.02417.
The unusual link between SWIFTIE and the Trump assassination attempt
This decline can be attributed to a peculiar sequence of events, commencing with Taylor Swift endorsing the Democratic candidate, Vice President Kamala Harris, after the most recent debate.
The following morning, on Sunday, September 15, former President Donald Trump shared a message on his social media site, Truth Social, tersely stating, ‘I dislike Taylor Swift.’
Under virtually any other circumstances, that could have marked the end of the tale, yet within hours, a second assassination attempt on Trump occurred in the span of two months.
These occurrences swiftly led numerous online communities to humorously claim that the ‘Swifties’ – devotees of Taylor Swift – were behind the assaults, enthusiastically distributing images of women and girls wielding firearms with captions alluding to a homicide plot.
Nevertheless, despite the bizarre series of incidents and the rapid spread of conspiratorial memes – which played a role in the fast decline of the SWIFTIES meme coin – it is doubtful that this will ignite a new trend in cryptocurrency.
The fact that strengthens the connection among the online ‘feud,’ the assassination attempt, and the memes is that SWIFTIES was indeed on an upward trajectory in recent trading and remains, after factoring in the 24-hour drop, up by 13.78% on the 7-day chart.
Will SWIFTIE transform into a new crypto market sensation?
At the moment of this writing, SWIFTIE boasts a modest 24-hour trading volume of $2,000, and its outlook is unlikely to change, given that its market cap is just slightly above $240,000.
Nonetheless, the Taylor Swift cryptocurrency symbolizes a broader financial disturbance that impacted assets somehow linked to each perceived participant in the attack on Donald Trump and, more broadly, in the 2024 presidential race.
Harris and Trump-themed assets react to the assassination attempt
In fact, one of the most significant meme coins themed around Kamala Harris – Kamala Horris (KAMA) – has decreased by 5.59% over the last 24 hours of trading. However, its decline has been progressive for some time, showing over 20% in the negative on the weekly chart.
On the other hand, KAMA’s performance offers an intriguing reflection of the results of arguably the main asset interconnected in the Presidential race and its fluctuations – the stock of Trump Media (NASDAQ: DJT).
While the rapid decline of DJT following the September 10 debate may imply that investors were displeased with the Republican nominee, a similar sentiment can be noted among Harris’ supporters – at least in the crypto sphere – given the pricing shifts of the Horris meme coin.
Moreover, DJT’s recovery on and after Friday, September 13, showcases Trump supporters’ willingness to rally together and support their candidate.
Image Source: Stefano Chiacchiarini ’74 / Shutterstock
