Political Meme Coins Drop 4% After Joe Biden Calls Zelensky “President Putin”

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The collective market cap for political meme coins tumbled 4% over the past 24 hours after U.S. President Joe Biden referred to Ukrainian President Volodymyr Zelensky as “President Putin.”

The incident occurred during the closing day of the summit in Washington, with Biden surrounded by NATO leaders. As he concluded his opening remarks, he turned to Zelenskiy, stating, “Now I want to hand it over to the president of Ukraine, who has as much courage as he has determination. Ladies and gentlemen, President Putin!”

Ukrainian President Says “I’m Better”

The gaffe momentarily stunned the assembly, with hesitant claps from European leaders. German Chancellor Olaf Scholz and Italian Prime Minister Giorgia Meloni exchanged surprised glances, while others responded with awkward applause, according to a report by The Guardian.

At the latest press conference, Biden introduced Zelensky as ‘President Putin’, and he referred to Kamala Harris as ‘Vice President Trump’.

I’m actually losing *my* fucking mind here.
He HAS to stand down. pic.twitter.com/bduZboDo0x
— Jonathan Pie (@JonathanPieNews) July 12, 2024

Upon realizing his mistake, Biden quickly corrected himself, saying, “President Putin! We’re going to beat President Putin. President Zelenskiy. I’m so focused on beating Putin. We’ve got to worry about it. Anyway, Mr. President.”

Also read: Dogwifhat Price Analysis: Is a Reversal on the Horizon?

Attempting to defuse the situation, Zelenskiy responded, “I’m better,” shaking Biden’s hand. Biden, in an effort to recover, affirmed, “You are a hell of a lot better.”

Multiple Trump-Themed Cryptos Among the Best Performing Political Meme Coins

Several cryptos linked to President Biden and former President Donald Trump recorded 24-hour losses. MAGA (TRUMP), MAGA Hat (MAGA), Doland Tremp (TREMP), Jeo Boden (BODEN) and Hunter Boden (HUNTBODEN) all saw their prices drop.

Several tokens linked to Trump were, however, able to make it into the top-performing political meme coins list. Pepe Trump (PTRUMP) posted the biggest 24-hour gain with a more than 45% increase in price throughout the past day of trading.

Also read: Bitcoin Price Poised for a Major Shift – Key Insights

Trump Mania (TMANIA) was the next biggest gainer following a 26% surge. Meanwhile, Mini Donald (BARRON) and MAGA PEPE (MAGAPEPE) made it onto the top 10 performers list as well.

Author

Steven Walgenbach

Steven's passion for cryptocurrency and blockchain technology began in 2014, inspiring him to immerse himself in the field. He notably secured a top 5 world ranking in robotics. While he initially pursued a computer science degree at the University of Texas at Arlington, he chose to pause his studies after two semesters to take a more hands-on approach in advancing cryptocurrency technology. During this period, he actively worked on multiple patents related to cryptocurrency and blockchain. Additionally, Steven has explored various areas of the financial sector, including banking and financial markets, developing prototypes such as fully autonomous trading bots and intuitive interfaces that streamline blockchain integration, among other innovations.

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