PolitiFi: The Big Trend in Anticipation of the US Elections 2024

2024-07-16

The shocking assassination of Donald Trump has ignited a fiery passion within the crypto community, giving rise to a new trend called PolitiFi. This innovative phenomenon is transforming political predictions into potential profits, allowing crypto enthusiasts to capitalize on the fervor surrounding the 2024 U.S. elections. Let’s explore this hot trend in the below article.

The Origins of PolitiFi Tokens

PolitiFi tokens, a new kind of meme currency, arose during the heat of the 2024 US election season. Building on the popularity of meme currencies, such as Dogecoin, these tokens redirected attention away from online culture and animals and into the highly sensitive terrain of American politics.

Donald Trump's involvement with cryptocurrencies and NFTs served as a major driver for this transformation. His efforts, along with investors' "FOMO" (fear of missing out), resulted in a jump in the value of Trump-themed tokens.

The outcome paved the way for a flurry of copycat tokens tied to other political figures, forming the PolitiFi sector in the cryptocurrency market.

What Triggered the Sudden Surge?

This section unveils certain elements that contribute to the sudden surge in the value of PolitiFi tokens:

  • Donald Trump's influence: His continuing participation in the crypto ecosystem, as well as his controversial announcements, have had a direct influence on the price of associated coins.

  • Media attention: The increased media attention to PolitiFi coins has sparked investor interest and speculation.

  • Speculative trading: The unpredictable nature of meme currencies, mixed with the political intrigue surrounding their namesakes, has drawn traders seeking rapid returns.

  • Political events: News cycles and political occurrences have been known to cause price changes in PolitiFi tokens.

Top PolitiFi Tokens In July 2024

Although mostly driven by excitement and speculation, these politically themed tokens have lately fared well and are poised for more gains as election fever spreads. Let's look at the most promising PolitiFi tokens in July 2024 below:

#1: MAGA (TRUMP)

MAGA (TRUMP) is the top PolitiFi token in terms of market capitalization, with a value of more than $342 million (as of July 15th, 2024). MAGA, inspired by Donald Trump's "Make America Great Again" motto, was launched as an ERC-20 token in August 2023 and has since spread to various networks, including Solana and BNB Chain.

Despite a recent pullback, its price performance has been amazing, with almost 47,000% growth since launch, representing an appealing purchasing opportunity for investors.

#2: MAGA (MAGA)

Inspired by Donald Trump's well-known red MAGA hat, this renowned Ethereum-based currency debuted in May 2024 but has impressively grown more than 1,600% in only one year.

With a humble market capitalization of around $74 million (as of July 15th, 2024) and the upcoming US election campaign, MAGA offers a potentially high-growth opportunity for investors. The minimal trading tax of this token and availability on major exchanges add to its popularity in July 2024.

#3: Super Trump (STRUMP)

Super Trump (STRUMP) is a multi-chain meme currency that runs on both Ethereum and Solana, giving investors who missed out on previous Trump-themed tokens a second opportunity at possible riches. Since its debut in March 2024, STRUMP has grown by more than 3,000 percent.

Despite a recent fall, STRUMP remains a possible purchasing opportunity in July 2024, particularly for low-cap speculators, since it is presently worth about $20 million.

#4: Jeo Boden (BODEN)

Jeo Boden (BODEN) is a meme currency that parodies Joe Biden by intentionally misspelling his name. It was introduced in March 2024 and crossed the $1 milestone in April of this year.

With its price lingering at psychological support levels and the election season coming, there is a chance for a price increase and possibly a recovery to $1. However, prospective investors should be aware that BODEN has no limit on supply, meaning that additional tokens may be produced at any moment.

#5: Free Trump (TRUMP)

Free Trump (TRUMP) is one of the first PolitiFi tokens and has grown dramatically since its launch in late 2023, with an astounding 380,000% gain from its all-time low.

While trading at $0.004166, a 95% discount from its all-time high ($0.0755 on May 31st, 2024), this established meme currency still has huge upside potential in July 2024.

#6: Giga Trump (GTRUMP)

Giga Trump (GTRUMP) is another Trump-themed PolitiFi token with the potential for a positive reversal. Despite selling 77% below its all-time high, the coin has already increased 102% from its low.

With a current market capitalization of over $900,000, GTRUMP seems to be a high-risk, high-reward investment opportunity.

#7: ConstitutionDAO (PEOPLE)

ConstitutionDAO (PEOPLE) is a unique PolitiFi token with a history dating back to 2021, when it attempted to purchase an original copy of the US Constitution. Despite the unsuccessful effort, PEOPLE, the native token, has prospered and is now the second-largest PolitiFi token on the market.

In July 2024, PEOPLE presents a noteworthy investment opportunity due to its exceptional performance. It has grown over 408% in the past year and recorded an impressive 1,776% over its lifetime, demonstrating long-term potential.

PEOPLE is currently selling 61% below its all-time high ($0.1852 on December 23, 2021), indicating a possible point of interest for investors looking for exposure to the PolitiFi sector notwithstanding this expansion.

#8: MAGA VP (MVP)

MAGA VP (MVP) is a PolitiFi token based on Donald Trump's vice presidential candidate, intended to support whoever Trump selects. MVP, which launched in February 2024, has already grown by more than 700%, making it a standout success in the PolitiFi industry.

MVP provides an intriguing investment opportunity in July 2024, thanks to its recent market downturn and its modest market capitalization of $10 million. These factors suggest room for additional expansion.

What is the Future of PolitiFi?

Though its future is unknown, PolitiFi has several potential. Driven by media attention, speculative trading, and real political events, demand for PolitiFi tokens is expected to explode as the 2024 US elections get close.

The success of these tokens might serve as a unique barometer of public emotion and market predictions toward political personalities, possibly influencing a new kind of political participation in the crypto world. However, the speculative nature of PolitiFi necessitates prudence and careful evaluation from investors.

The PolitiFi frenzy shows no signs of slowing down, with new tokens emerging and existing ones experiencing significant price swings. With the 2024 U.S. elections just around the corner, the potential for these meme coins to skyrocket is immense. With Bitget Wallet, you can get in on the action and secure your own piece of the PolitiFi pie right away.

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