In recent months, the whole world has been closely watching the presidential race in the United States, and, of course, many political figures have managed to get memcoins associated with them and their ideas. Usually, such tokens play either the personality of a politician, his ideology and election program, or the current political agenda as a whole.
Currently, the most popular political memcoins include tokens, one way or another associated with the US presidential candidate from the Republican Party, Donald Trump. Among the ten largest memcoins by capitalization, nine are associated with him, his ideas or the slogan "Make America Great Again" (often found in the form of an abbreviation "MAGA"). Let's look at some of them.
MAGA (TRUMP)
The MAGA (TRUMP) project with a capitalization of more than $176 million, clearly aimed at supporting Donald Trump, is on the second line in the PolitiFi segment and on the 224th place in the crypto market as a whole. The total offer is 47,000,000 coins.
The developers emphasize that with the help of MAGA (TRUMP), fees are collected for socially significant projects, including support for US veterans. Also on the official website you can find instructions for buying a token in the Ethereum or Solana blockchain.
The MAGA (TRUMP) course, like other similar memcoins, is associated with events in the real world that pump up their value. So, on the day of the assassination attempt on Trump on July 13, the token exchange rate exceeded $ 10, although the day before the incident the maximum value was slightly more than $ 6.94.
MAGA (MAGA)
The third place in the PolitiFi segment and the 735th place in terms of capitalization as a whole is occupied by MAGA (MAGA) with a total market value of more than $ 20 million. The mascot of the project is a red Trump cap with an election slogan. The total offer is 420,690,000,000 coins. The dynamics largely repeats the MAGA (TRUMP) movement, and there is extremely high volatility.
Super Trump Coin (STRUMP)
Super Trump Coin (STRUMP) ranks fourth among political memcoins, but its capitalization does not even allow it to get into the top 1000 cryptocurrencies. The token occupies only 1,003rd place with a total market value of about $9 million. The total issue is 2,600,000,000 coins. The coin plays out the story related to the protests and rally at the Capitol in 2021, and the mascot is Trump himself.
There are other less popular PolitiFi projects featuring Donald Trump, for example Baby Trump, Donald Tremp, Fear Not, MAGA Again and others. He is so popular in the memcoin segment that there are coins that combine the image of Trump and the attributes of other memes popular in the crypto community: MAGA Pepe, MAGA Doge, MAGA Shiba and others. But projects related to the names of other politicians are no less popular. Let's take a closer look at some of them.
KAMALA HARRIS (HARRIS)
Tokens dedicated to Kamala Harris, the US presidential candidate from the Democratic Party, managed to gain relatively good popularity.
One of the most popular is KAMALA HARRIS (HARRIS). At the same time, the trading volumes are quite small and it is difficult to estimate the real capitalization of the project. According to optimistic estimates, it may exceed $12 million. The total issue is 420 690 000 000 HARRIS.
Other well-known memcoins dedicated to Kamala Harris include Kamala Horris (KAMA), KRAZY KAMALA (KAMALA) and others.
Boden (BODEN)
Another hero of political memcoins is Joe Biden, the current president of the United States and a recent candidate for re—election. In July, he withdrew from the presidential race, vacating the seat of Democratic candidate Kamala Harris. The BODEN token, of course, did not take this news very well and is now trading close to $0, although at its peak it cost 95 cents. BODEN's capitalization, which was almost $650 million in April, dropped to $5 million.
It seems that after Biden dropped out of the race, the BODEN token ceased to be of interest and turned out to be abandoned. At least, there are no prospects for a new wave of pump yet. And it seems that the authors of the project also believe that the site dedicated to BODEN is no longer responding. However, this does not mean that it will not be raised if interest around the coin suddenly reappears.
Other PolitiFi tokens
At various stages of the presidential race, certain hopes were also pinned on the JILLBODEN token, dedicated to the wife of the current US president Jill Biden, and OBEMA, which refers to the wife of the 44th US President Barack Obama, Michelle Obama. OBEMA was apparently created in the wake of rumors that Michelle Obama could become the Democratic presidential candidate if Biden withdraws his candidacy. However, as you know, Michelle Obama did not become a candidate, which means that the bet made by the creators of the token did not play out.
Interestingly, some projects seem to have been launched by the same developers, so the creators may not share any specific political beliefs. Rather, they prefer to create a new tool for a possible pump.
So, apparently, the TREMP, BODEN, JILLBODEN and OBEMA tokens were created by the same team. This is evidenced by their stylistic similarity, the common Solana blockchain and similar sites. That is, in fact, the authors of these projects have created a kind of sweepstakes, where the quotes of tokens reflect the news related to the election race. And when someone purchases a token dedicated to a specific politician, they, by and large, bet that the news will be in favor of this person, and the price of the token will react to them.
ConstitutionDAO (PEOPLE)
There is another phenomenon in PolitiFi that stands apart from political memcoins. We are talking about the ConstitutionDAO organization and its PEOPLE token.
ConstitutionDAO pursued a very serious goal — to purchase an original copy of the Constitution of the United States at the Sotheby's auction held in November 2021. Despite the fact that the goal could not be achieved, the ConstitutionDAO project became an example of the power of DAO and crowdfunding through cryptocurrencies.
The idea of ConstitutionDAO was to raise funds from a large number of people to bid for a rare, first edition of the Constitution — one of the 13 surviving copies. The project was built on the Ethereum blockchain, and investors could send ETH to the address of the ConstitutionDAO smart contract in exchange for PEOPLE tokens. These tokens represented their share of the collective "purchasing power" and voting rights in the DAO.
Despite the fact that the project raised more than $40 million and became one of the largest crowdfunding projects in history, the ConstitutionDAO bid was eventually outbid and the DAO did not win the auction. After the auction, the ConstitutionDAO team announced that it would return funds to depositors minus gas fees paid during transactions.
Despite the fact that the history of the project ended several years ago, ConstitutionDAO remains in the first place among projects related to politics in terms of market capitalization. Although the PEOPLE token can be exchanged for ETH at the rate of 1,000,000:1 (having lost only gas fees compared to the initial investment, and possibly the difference in the rate), not everyone was in a hurry to part with it even after ConstitutionDAO announced that it would not support the coin.
Conclusion
In general, the political segment is represented in cryptocurrencies rather superficially — mainly by memcoins associated with media political figures and the news agenda. The political coin market can be considered as a kind of sweepstake, where investing in a coin means betting that the news background will inflate interest in it. On the other hand, the history of ConstitutionDAO indicates that the blockchain can become fertile ground for more serious projects.
This material and the information in it do not constitute an individual or other investment recommendation. The editorial board's opinion may not coincide with the opinions of the author, analytical portals and experts.