With the US presidential election results approaching, the cryptocurrency market is experiencing great activity. In addition to the fluctuations in Bitcoin and Ethereum prices, interest in memecoin projects has increased rapidly. Politically themed memecoins in particular have begun to attract attention in the last 24 hours. Coins such as DOGE, ELON, MAGA and DJT were among the most talked-about projects in the market this week.
Political Themed Memecoins Are Attracting Attention
According to Santiment data, memecoins with political themes have become rapidly popular on social media recently. Among these projects, Dogecoin (DOGE), Dogelon Mars (ELON) and MAGA and DJT tokens related to Donald Trump stand out. Donald Trump's 51.7% lead in the election race and Kamala Harris' 47.5% follow him, further increasing the interest in these themed coins. With Trump leading, tokens related to him quickly gained popularity and created great interaction on social media. This contributed to the prominence of these tokens along with election news, thus making the election process an important agenda item in the crypto market.
Election-Themed Memecoins Rock the Market
Election-themed tokens have spread like a wave in the crypto market. More than 40 Trump-related tokens have been launched on the Ethereum network, while more than 100 new tokens have emerged on the Solana network. This has caused a serious movement in the market. More established tokens such as MAGA and KAMA have seen significant increases in trading volumes. For example, the market value of the MAGA token has exceeded $ 150 million. The Kamala Harris-themed KAMA token, on the other hand, has experienced a 50% drop after gaining 150% on November 1. These rapid increases and decreases clearly show the impact of the political atmosphere on memecoin projects. These tokens associated with the election process have caused investors to trade rapidly with expectations of big gains.
PolitiFi Token Market Value: Exceeds $600 Million
The popularity of politically themed memecoin projects is not a new phenomenon, but interest in these projects has increased even more as the election season approaches. The total market value of these memecoin projects, called “PolitiFi,” has now exceeded $600 million. Among these projects, ConstitutionDAO’s PEOPLE token stands out with a market value of $347 million. In addition, interest in MAGA-themed tokens is also increasing. These politically themed memecoins, which have attracted more attention in the crypto market since September, once again reveal how large-scale real-world events affect the crypto world. Both the impact of the US elections and the market’s sensitivity to political events create new opportunities and risks for crypto investors.
