Trump-related meme coins rally on Polymarket’s high odds and Elon Musk’s endorsement

• PolitiFi meme coins named after Donald Trump posted double-digit gains on a rise in its Polymarket shares.
• Trump’s lead over Harris widened on Polymarket after the platform received an endorsement from Elon Musk.
• MAGA and SUPER TRUMP are up over 30% in the last 24 hours.

Polymarket data on Monday showed Donald Trump’s odds against Kamala Harris in the presidential race rose to 54%, establishing an 8% lead for the Republican candidate. Following suit, Trump-based meme coins posted double-digit gains.

Donald Trump’s lead in Polymarket has caused a surge in PolitiFi meme coins

Republican candidate Donald Trump secured an 8 percent lead over Kamala Harris on Monday on the prediction market, Polymarket. The 54% to 45.5% margin is Trump’s largest lead since Harris took over the Democratic seat.

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 shares are more accurate than election polls “because real money is at stake.”

The billionaire also jokingly suggested in a recent interview with political commentator Tucker Carlson that he could be jailed if Trump loses the upcoming election.

Donald Trump’s chances also improved after 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 nears.

Following the rise in election odds, PolitiFi meme coins rallied on Monday, with Trump-themed tokens up more than 30%.

MAGA and SUPER TRUMP posted gains of 33% and 37% respectively, indicating increased positive sentiment among crypto investors towards Trump winning the upcoming election.