The recent debate between Joe Biden and Donald Trump led to a decline in the value of memecoins inspired by the two candidates. The market capitalization of political-themed tokens now stands at $1.3 billion, reflecting a 6.7% expansion over the last 24 hours. The Ethereum-based MAGA (ticker: Trump) has seen a decline of 6.4% in the past hour, while MAGA Hat (ticker: MAGA) slid by 10.8% over the past hour.

On the Solana blockchain, Jeo Boden (ticker: BODEN) has recorded a decline of 26%, and Doland Tremp (ticker: TREMP) has fallen by 9.4% over the past hour. The Ethereum-based Super Trump (ticker: STRUMP) has experienced a decrease of 1.8%. The significant price movements highlight the volatility within this sector of the cryptocurrency market amid the publicity surrounding the televised debate.

The PolitiFi memecoins may serve as a popularity check among the respective candidates as the U.S. presidential election campaign heats up. Traders were watching the live debate for clues as to what November's election might mean for bitcoin and the wider cryptocurrency sector. According to Bitfinex analysts, Trump is seen as a pro-innovation candidate for the cryptocurrency sector.

A Trump win in November would signal a shift towards more favorable regulatory conditions for the cryptocurrency industry in the U.S. The U.S. presidential debate kicked off Thursday at 9 p.m. ET on CNN and was the first time the two candidates shared a debate stage since 2020. The debate has sparked intense discussions and speculations among traders and investors, leading to the fluctuation in the value of political memecoins.

The political memecoins are highly volatile and can be influenced by various factors, including political developments, social media trends, and market sentiment. The recent price movements demonstrate the sensitive nature of these tokens and their susceptibility to external events. As the U.S. presidential election approaches, the political memecoins will likely continue to experience significant fluctuations.

The decline in the value of political memecoins following the debate highlights the unpredictable nature of the cryptocurrency market. The political memecoins are not only a reflection of the popularity of the candidates but also a representation of the market's sentiment towards the election outcome. As the election season heats up, the political memecoins will likely continue to be a topic of interest among traders and investors, offering a unique perspective on the political landscape.