Memecoins
Election day surge – ‘Trump tokens’ lead PolitiFi rally, but will these gains hold?
Posted:
Journalist
- Trump-themed tokens surged amid the election’s hype
- Newly released tokens supporting the former President emerged as the market’s top gainers
It’s Election Day, and the PolitiFi market is abuzz with activity as Trump-themed tokens recorded a significant surge. These politically inspired tokens saw an impressive 10% rally, with Trump-centric memecoins capturing most of the attention.
Trump-themed tokens take the lead
AMBCrypto took a closer look to reveal that in the Trump-themed segment, MAGA (TRUMP) jumped by around 25% and hit a market cap of $167 million. MAGA (MAGA) saw an even stronger hike with gains of approx. 35%, while Doland Tremp (TREMP) climbed by around 18%.
Worth noting, however, that the surge proved short-lived as many traders quickly cashed out. This led to a swift downturn shortly after the rally.
According to CoinMarketCap the overall market cap of PolitiFi tokens dropped by 0.78% in the last 24 hours. While the TRUMP token managed a modest 0.66% gain, most other top tokens posted double-digit losses following the sell-off.
Source: CoinMarketCap
On the contrary, newly-launched Trump-themed tokens like President Trump MAGA (TRUMPMAGA), which debuted on 1 November, attracted significant attention. It soared by 989% over the last 24 hours alone.
Additionally, Trump47 (TRUMP47), Old Trump (TRUMP), and Pepe Trump (PTRUMP), also enjoyed triple-digit gains at press time. Hikes like these secured their spot among the market’s top daily gainers.
How are Harris-themed tokens doing?
Kamala Harris-inspired tokens saw a varied performance. Kamala Horris (KAMA) initially dropped by 21%, before gradually reversing some of its losses at press time. However, it ceded its spot as the top Harris-themed token.
On the other hand, Kumala Herris (MAWA)also fell by 6.5%, but rebounded to post gains of 8% and dethrone KAMA. Meanwhile, Krypto Harris (HARRIS) outperformed its peers with a 98% hike, showing that enthusiasm for Harris-themed tokens remains more selective.
Future of PolitiFi tokens post-elections
Despite their unpredictable price swings, political parody tokens have emerged as a novel way of gauging election-year sentiment among crypto traders.
With the market highly sensitive to political developments, a win in Trump’s favor may trigger a rally for the associated tokens. And, the same might be the case for Harris-themed tokens if the VP secures the Oval Office.
Whether they will sustain their momentum post-election or fade into the volatile crypto ether remains to be seen. What is clear is that the convergence of politics and cryptocurrency continues to drive dynamic and unpredictable market movements, mirroring the nation’s intense electoral decision-making process.
