Introduction: A Boost for PolitiFi Tokens
As the US presidential elections loom just hours away, the PolitiFi token market is experiencing a significant boost. Recent data reveals a nearly 10% surge in this sector over the last 24 hours, with Trump-themed memecoins leading the charge. This has led some investors to predict a substantial rally for these tokens in the coming days.
Trump-Themed Memecoins Experience a 30% Jump
The PolitiFi sector gained traction earlier this year as various memecoins inspired by US politicians showed impressive performance. Some tokens even saw their market capitalization soar beyond the $100 million mark. Notably, memecoins inspired by former US President and Republican candidate Donald J. Trump have consistently dominated the sector throughout his presidential campaign.
These tokens, including cryptocurrencies like MAGA (TRUMP) and Doland Tremp (TREMP), reached all-time highs of $17 and $1.5, respectively, driven by Trump’s favorable stance toward cryptocurrency. However, many of these cryptocurrencies have since seen a significant retracement, dropping more than 70% since June.
With the upcoming elections, the PolitiFi sector is once again on the rise, showing a 10% increase in the last 24 hours. This comes even as the broader crypto market experiences a 1.5% pullback. Trump-themed memecoins continue to lead, with TRUMP witnessing a remarkable 26% surge, trading above the $3.8 range. Meanwhile, MAGA Hat (MAGA) recorded a 32.6% price jump, bringing its market cap close to $90 million today. Additionally, MAGA’s daily trading activity has surged by nearly 30%, reaching a trading volume of $41.7 million over the past day.
PolitiFi Tokens and the Impact of the Election
The ongoing rally in the PolitiFi sector appears to be driven by the anticipation surrounding the upcoming elections. Investors expect volatility to peak in the coming days as speculation about the election’s outcome intensifies. Many believe that the PolitiFi token surge will continue, particularly if Trump-themed memecoins skyrocket following a potential Trump victory.
As of now, just 10 hours before the election, the Republican candidate’s winning odds are notably higher than those of the Democratic nominee, Kamala Harris. Polymarket’s live forecast shows Trump leading the prediction market by a 15% margin.
Earlier in September, following the presidential debate, Trump had lost ground to US Vice President Kamala Harris, with the Democratic nominee surpassing Trump’s winning odds by 4%. However, the situation has since shifted, with Trump regaining his lead in October, closing the month with a 66% chance of winning, which has now slightly retraced to 57%.
The Impact on Harris-Inspired Memecoins
As Trump’s winning odds increased, memecoins inspired by the US Vice President Kamala Harris have seen a notable decrease. Kamala Horris (KAMA), the largest Harris-inspired token, has retraced nearly 25% in the last 24 hours, with a 34% decline in daily trading activity.
