Biden’s 'Trump 2024' Hat Sparks Online Frenzy; White House Clarifies Intentions

A photo of U.S. President Joe Biden briefly wearing a hat emblazoned with “Trump 2024” circulated rapidly online this Wednesday, sparking widespread reactions. The image, which appeared authentic and not AI-generated, was particularly celebrated by supporters of former President Donald Trump. Comments like “Has Biden joined the MAGA movement?” and “This is the best decision he’s ever made!” quickly made the rounds, becoming a trending topic of the day.

President Biden briefly dons Trump hat

Read more: Donald Trump-Themed Meme Coins Plummet After Fiery Debate With Kamala Harris

White House Clarifies Biden's Intent

In response, the White House promptly addressed the situation. According to spokesperson Andrew Bates, the event did indeed occur but was motivated by a desire to promote national unity, akin to what the country experienced after the 9/11 attacks.

Bates explained that during a visit to the Shanksville Fire Station, President Biden spoke about the bipartisan solidarity seen in America following the 9/11 tragedy. To symbolise this, Biden gifted a hat to a Trump supporter present at the event. The supporter then suggested that, in the same spirit of unity, Biden should try on his “Trump 2024” hat. Biden briefly wore the hat, intending to convey a message of togetherness.

Trump Media Shares Plummet

While the incident sparked widespread online chatter, the focus soon returned to the ongoing U.S. presidential election. Most international media outlets have observed that in the recent face-off between Trump and Kamala Harris, the latter appears to have the upper hand. According to Polymarket, a prediction market, Trump’s chances of winning stand at 49%, slightly trailing Harris, who is at 50%.

In financial markets, Trump Media, the media group owned by Trump, saw its stock plunge by 10.47%, closing at $16.68. Over the past month, the stock has fallen by 32.96%, reflecting a weakening performance.

Read more: Kamala Harris' Odds Surge on Polymarket Following Debate with Trump

Trump-Related Meme Coins Also Decline

The fallout didn’t stop with the stock market. Meme coins associated with Trump also suffered significant declines:

• TRUMP (Ethereum): This coin, named after Trump, dropped by 13.26% in the past 24 hours, now trading at $2.79.
• MAGA (Ethereum): A coin referencing Trump’s slogan “Make America Great Again,” fell by 19.42%, now at $0.000072.
• FIGHT (Ethereum): Another meme coin linked to Trump-related controversies decreased by 12.87%, currently priced at $0.0045.

While the intent behind Biden’s actions was to promote national unity, the incident has led to varied interpretations and market reactions, highlighting the complexities of political symbolism in the current climate.