What is PolitiFi and What Are the Top 5 Political Coins Worth to Watch?
While meme coins have introduced a playful and community-driven touch to the financial world, PolitiFi tokens are extending this approach to enhance connections between the cryptocurrency community and the political sphere. Read our pick of the 5 trending political tokens.
The crypto market is currently dominated by meme coins, which have given rise to a new and distinctive category: Political Meme Coins, or PolitiFi. As the 2024 U.S. elections approach, this emerging asset class has garnered significant attention. PolitiFi tokens, which feature names inspired by political figures such as Donald Trump and Joe Biden, have no official connection to the individuals they caricaturize.
These tokens cleverly exploit the images of these well-known figures, often using altered spellings for comedic effect, with tickers like BODEN and TREMP emerging as notable examples. The introduction of these tokens has been timely, coinciding with an increasing intertwining of cryptocurrency with political narratives.
In addition, CoinGecko, one of the leading crypto data aggregators, officially categorized these tokens under the new PolitiFi section on March 5. As of now, еhe market cap for PolitiFi meme coins has reached $1,12.
Despite their lack of official affiliation or practical utility, the upcoming U.S. presidential election could heavily influence their market values, as political developments and comments from the represented political figures can lead to sudden shifts in their valuation. Let's explore the top five PolitiFi tokens and meme coins currently shaping this market.
MAGA (TRUMP)
The MAGA meme coin, which draws inspiration from the "Make America Great Again" slogan of former U.S. President Donald Trump, is among the earliest political meme coins in the market. Trump's support for the cryptocurrency sector has enhanced his popularity within this community, leading to the development of many Trump-themed meme coins. Among these, MAGA is the most notable, holding the highest market valuation.
Introduced in August 2023, the MAGA meme coin has reached a market capitalization of over $365 million by June 2024, making it the leading political meme coin globally. In 2024, it has increased by more than 4,800%, marking it as one of the year's top-performing tokens. Crypto traders often use tokens like MAGA to speculate on the outcomes of the U.S. presidential election.
On May 27, 2024, the crypto research firm Arkham Intelligence reported that Trump possessed over 579,000 MAGA tokens, valued at more than $7.7 million.
Jeo Boden (BODEN)
The swift rise of the TRUMP token catalyzed the creation of its rival, Jeo Boden (BODEN), a meme coin themed around the Democratic Party. This new entrant stunned the community by skyrocketing 230-fold in value within a single month.
Jeo Boden is a relatively new addition to the meme coin sector. Inspired by President Joe Biden, this political meme coin has quickly built momentum on the Solana blockchain. Currently, Boden boasts a market capitalization of $80 million and has attracted 31,000 holders. Recently, the coin's value jumped by 252%, fueled by social media discussions and even a playful mention by former President Trump.
ConstitutionDAO (PEOPLE)
Launched in 2021, ConstitutionDAO had a singular goal: to acquire one of the original copies of the US Constitution. This initiative marked a historic moment as it was the first DAO (Decentralized Autonomous Organization) to mobilize funds for the preservation of a foundational physical document. It successfully gathered more than $42 million from over 17,000 contributors.
Despite this achievement, ConstitutionDAO did not succeed in its primary mission. The winning bid for the Constitution was $41 million, and ConstitutionDAO withdrew, citing insufficient funds for the "proper care and maintenance" of the document. However, its native token, PEOPLE, continues to thrive and has shown remarkable performance among PolitiFi tokens, with a 660% increase in value over the past year.
Since its inception in late 2021, the value of ConstitutionDAO has surged by over 2,200%. Despite this impressive growth, the tokens are still available for purchase at a 42% discount from their all-time high, presenting an ongoing opportunity for investors.
Doland Tremp (TREMP)
Tremp is a meme coin on the Solana blockchain that humorously alludes to Donald Trump, much like its counterpart Jeo Boden, with a deliberately altered spelling. This token specifically targets Donald Trump's supporters and was introduced in March 2024 at a price of $0.1227 as Doland Tremp.
Despite experiencing significant price fluctuations, TREMP has maintained a strong upward trajectory. Currently, it is trading at $0.5872, representing an increase of over 377% from its initial price. Additionally, TREMP recently reached an all-time high of $1.65, and now it is available at a 38% discount from that peak.
With a market capitalization of $58 million, Doland Tremp ranks among the top most valuable PolitiFi tokens. The total supply of TREMP tokens stands at 100 million.
Tooker Kurlson (TOOKER)
TOOKER is a parody PolitiFi meme coin inspired by Tucker Carlson. The team behind this project create hilarious animated news segments and interviews reminiscent of Carlson's own style. These creations are regularly uploaded to their YouTube channel for public viewing.
Launched on the Solana blockchain on March 10, 2024, the Tooker Kurlson project quickly gained traction and community engagement. It boasts over 2.68K holders, a market capitalization of $19 million, and a 24-hour trading volume of nearly $1 million.
Given Tucker Carlson's close ties with Donald Trump and his outspoken views against Biden, it is anticipated that TOOKER will continue to have a rich vein of content to mine in the lead-up to the November election.
Final Words
Meme coins have introduced a playful and community-driven dimension to the financial world, and PolitiFi tokens are extending this approach to forge connections between the cryptocurrency community and the political sphere. As these tokens gain traction, it is likely that politicians will increasingly adopt PolitiFi tokens for their campaigns, attracting a younger demographic through humor, memes, and financial engagement.
Politicians are using PolitiFi tokens to enhance visibility for their campaigns and cultivate a community rooted in humor and shared financial interests.
