Trump-Themed Meme Coins Rally, Gen-Z Redefines Financial Freedom, Bitcoin Breaks $70k Mark

The past week has been a rollercoaster ride in the world of cryptocurrency and politics. Trump-themed meme coins are making waves with impressive gains

Trump-themed meme coins experienced a surge on Monday, riding high on Trump’s increasing election odds. These tokens, including Maga Memecoin (TRUMP/USD), MAGA Hat (MAGA/USD), and Donald Tremp (TREMP/USD), experienced a collective rise, thanks to Trump’s rising chances in the 2024 U.S. presidential race.

According to Coinmarketcap, these political meme coins were collectively nearing a total market cap of $700 million, up 11% in just 24 hours. Polymarket traders currently give Trump a 66.1% chance of winning, while Kamala Harris trails at 33.9%.

American statistician Nate Silver sees the 2024 U.S. presidential race as “a near coin flip,” with Trump narrowly leading Harris. As of Oct. 31, Silver’s forecast gives Trump a 53.4% chance of winning, compared to Harris’s 46.2%. This tight margin underscores the intense polarization and competitiveness of this election.

On the other hand, Gen Z is decoupling financial freedom from traditional 9-5 jobs, according to Chamath Palihapitiya. He observed that an increasing number of young men are engaging in side activities such as trading cryptocurrencies like Bitcoin (BTC/USD) and options on platforms like Robinhood and Coinbase.

This shift signifies a departure from the traditional notion that wealth is primarily earned through one’s job. Instead, Gen Z is exploring diverse avenues to financial independence, a trend that is likely to continue shaping the future of work and finance.

Leading cryptocurrencies surged on Monday, with Bitcoin (BTC/USD) breaking through $70,000 after an almost five-month hiatus. The world’s largest cryptocurrency breached this elusive level late evening, building on the positive momentum from the weekend.

Bitcoin’s last close above $70,000 was on May 10, before it began a slide that took it down to the $30,000 zone in June. BTC/USD encountered resistance at the $70,000 level once again in August, but it failed to hold on to these gains.

Cat-themed coins also joined the rally on Tuesday, as the broader altcoin market cheered Bitcoin’s (BTC/USD) leap above $70,000. According to Coinmarketcap, cat-themed tokens approached a total market capitalization of $5 billion, up 9.3% over 24 hours.

Cat coins experienced a surge in popularity earlier this year, largely driven by meme coin traders and the community on Reddit and 4chan. These tokens, such as Mog Coin (MOG/USD) and Popcat (POPCAT/USD), experienced impressive gains, contributing to the broader altcoin rally.

Meme coin trader meme-millions predicted that cat coins could reach a valuation of $20–$50 billion, thanks to the large and dedicated community behind them.

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