Original title: (The U.S. presidential election is approaching, what speculative targets are there?)
Original source: Woo
Background: The U.S. presidential election on November 5 is approaching.
Less than a week remains until the U.S. presidential election on November 5, and the crypto user base has a place in this election. According to Triple A data, the proportion of the U.S. population holding cryptocurrency in 2024 is 15.5%, representing about 51 million Americans, a number greater than the total population of African Americans (41.1 million), only surpassed by Hispanic Americans (about 57 million).
This is also why cryptocurrency became the focus of this U.S. presidential election, with Trump continually introducing crypto-friendly policies.
Meme coins are a manifestation of the attention economy, always closely tied to hot events, and the U.S. presidential election is an excellent speculative topic. So which coins are worth watching for speculative opportunities?
Let WOO X Research show you!
High market cap coins: DOGE, People
$DOGE
The reason the first meme coin DOGE has entered politics is closely related to Musk's support for Trump.
On August 20, Musk tweeted that he wanted to create a 'Department of Government Efficiency,' abbreviated as D.O.G.E., a concept suggested by the DOGE community. Trump also responded that if elected, he would establish this department, conduct a comprehensive financial audit of the government, and propose to reduce waste. Thus, the price performance of DOGE has also become linked to the presidential election.
https://x.com/elonmusk/status/1825723913051000851
· Current market value: 25.5B
· Change in the last 14 days: +48%
· Upward momentum: Mentioned by Musk in a post and during Trump's campaign
$People
People is not centered around the presidential candidates but is a token issued by ConstitutionDAO.
ConstitutionDAO is a decentralized organization established in 2021, aimed at raising funds and bidding for a rare copy of the U.S. Constitution at a Sotheby's auction, raising as much as 6000 ETH, roughly equivalent to 40 million dollars.
Meanwhile, through the blockchain platform Juicebox, the PEOPLE governance token is issued, allowing investors to exchange 1 ETH for 1 million $PEOPLE. Token holders do not directly own the constitution but have the power of community governance. After successfully bidding for the constitution, the DAO community will vote on how to handle this copy.
However, they ultimately did not succeed in bidding, so ConstitutionDAO announced the project's conclusion. After members processed the refund procedures, they also decided to disband the community, although some members chose to retain the PEOPLE tokens exchanged for Ethereum and continue to undertake other projects in the form of a DAO, which also made $People a meme coin.
Meme, fully circulated, low market cap combined with the inherently political attributes of the constitution become the driving forces behind the rise of People.
· Current market value: 386M
· Change in the last 14 days: -7.6%
· Upward momentum: Highly correlated with the timeline of the presidential election
Small market cap coins: MAGA, KAMA
$MAGA
The concept is an abbreviation of Trump's slogan "Make America Great Again," and the price trend is closely related to Trump's polling. There are quite a few Trump-themed coins on the market, including Trump, Tremp, Fight, babytrump, etc. The coins that performed well in the past two weeks include MAGA; other coins have not risen as expected with the increasing probability of Trump's election. If one believes Trump has a high probability of winning, MAGA is a more stable choice.
· Current market value: 101M
· Change in the last 14 days: +83%
· Upward momentum: Increased with the rising probability of Trump winning.
$KAMA
The full name of the token is Kamala Horris (changing 'a' to 'o'), which conceptually parodies the Democratic candidate Harris's cartoon image. It is worth mentioning that among political meme coins, there are many Trump-themed coins, while there are very few Harris-themed coins, reflecting the political preferences of crypto users.
· Current market value: 7M
· Change in the last 14 days: +13%
· Upward momentum: Increased with the rising probability of Harris winning.
Important events & timeline for political meme coin speculation
Elector selection, voting (11/5 & 12/16)
After the electoral votes are chosen by the public on November 5, the electors from each state will meet on the "first Monday after the second Wednesday" of December (December 16, 2024) to vote for a slate of presidential and vice-presidential candidates based on the results of the state popular votes. Therefore, some say this day is the true "U.S. presidential election day."
Results of the U.S. presidential election (2025/1/6)
The U.S. Congress will officially announce the elected candidates in early January of the following year. At that time, members of both the House and Senate will jointly meet to approve and count the electoral votes, formally announcing the elected president and vice president. This process symbolizes the final confirmation of the election procedure and is the last step before the new government takes office.
Presidential inauguration (2025/1/20)
The new president will be sworn in on January 20, 2025, officially beginning their term.
Conclusion: Is the end of the election the start of a new round for the crypto market?
It is foreseeable that as the presidential election concludes, these meme coins will not have much speculative momentum, and market sentiment will return to the new president's attitude towards cryptocurrency. Trump is clearly more favorable to crypto voters compared to Harris, and has recently announced plans to issue his own stablecoin. This is also one of the reasons why both sides are close in traditional polls, while in Polymarket, Trump's probability of winning is overwhelmingly high.
Currently, Bitcoin is performing strongly, and if Trump is ultimately elected, it can be viewed as a positive development. In the short term, the coin price may face correction pressure, but as time goes on and crypto-friendly policies are implemented, it will bring a more stable investment environment and long-term benefits to the overall market.
