The upcoming 2024 U.S. presidential election has sparked a surge in memecoins associated with political figures. Explore the performance of these tokens and the factors driving their popularity.
Points
- Memecoins tied to political figures gain popularity ahead of the 2024 U.S. election.
- Biden-related tokens drop in value following his withdrawal from the race.
- Harris and Trump-related tokens surge as election news unfolds.
- Market analysts predict further movements tied to election events.
Political Memecoins on the Rise
As the 2024 U.S. presidential election approaches, memecoins associated with candidates from both political parties are gaining traction. Notable figures include current Vice President Kamala Harris, former President Donald Trump, and even Trump’s iconic “Make America Great Again” （MAGA） hat.
Biden-Related Tokens Drop
President Joe Biden’s announcement of his withdrawal from the race triggered a significant decline in tokens linked to him and his family. The Biden-inspired memecoin Jeo Boden （BODEN） plummeted by 62% within two hours of the announcement. Similarly, Hunter Biden’s Laptop （LAPTOP） and Jill Boden token （JILLBODEN） experienced sharp declines.
Harris and Trump Tokens Surge
In contrast, tokens related to Vice President Harris saw a surge due to speculation about her replacing Biden as the Democratic nominee. The Kamala Horris （KAMA） token jumped by 62% following the news. Trump-related tokens, such as MAGA （TRUMP） and TRUMP’S HAT （MAGA）, also saw price hikes after Biden’s withdrawal, with analysts anticipating further movements tied to Trump’s upcoming appearance at the Bitcoin Conference in Nashville.
Conclusion
The memecoin frenzy is intensifying as the U.S. presidential election nears, with tokens tied to political figures experiencing significant volatility. Investors should watch for further developments and potential gains as election events unfold.