This year, political themed tokens have taken the cryptocurrency market by storm, growing an impressive 782.4%, far outpacing the modest 90% rise seen for meme coins.
ConstitutionDAO’s token, PEOPLE, leads the pack with a market cap of $385.6 million, a staggering 494.3% increase since January. Similarly, the TRUMP-themed MAGA coin has seen a meteoric rise of 1,350.9%, often seeing spikes in value following major news events.
POLITIFI TOKENS OUTPERFORM MEME COINS: 780% INCREASE IN 2024!
Politically themed tokens are making waves this year, skyrocketing 782.4% compared to meme coins’ 90% rise.
ConstitutionDAO (PEOPLE) leads the way with a market cap of $385.6 million, up 494.3% since January, while… pic.twitter.com/aJhxEiGLjp
— IBC Group Manager (@ibcgroupio) September 2, 2024
As the US presidential election approaches, these politically themed tokens are likely to remain in the spotlight, potentially generating further gains.
On the other hand, meme currencies have had a tough year. Over the past 12 months, the top 10 meme currencies have suffered an average decline of 63.73% from their peak values.
Notable declines include $DOGE, down 57.93%, $SHIB with a 70.86% drop, and $PEPE, which dropped 58.16%. Other meme coins like $WIF and $BONK also suffered significant losses, dropping 70.93% and 64.63%, respectively. Even the once-popular $FLOKI dropped 65.97%.
Over the past year, the top 10 #MEMEcoins have fallen by an average of 63.73% from their peak.$DOGE: -57.93%$SHIB:-70.86%$PEPE: -58.16%$WIF:-70.93%$BONK:-64.63%$FLOKI:-65.97%$BRETT:-62.59%$POPCAT:-43.77%$BOME:-79.48%$MEW:-62.99% pic.twitter.com/GzRNI4dYaB
— Lookonchain (@lookonchain) September 2, 2024
@rovercrc on X remains optimistic about the future of meme coins, suggesting they could see a resurgence if the Bitcoin rally gains momentum again.
As the election approaches and the cryptocurrency market continues to evolve, the contrasting fortunes of politically themed tokens and meme coins will be ones to watch. Whether meme coins will rebound or continue to decline remains to be seen, but for now, political tokens are the big winners in this year’s cryptocurrency race.
$TAURUS on Tron it’s a nice consolidation.
I’m not worried.
Memecoins will make a comeback once the #Bitcoin the rally continues. pic.twitter.com/fmHJwhyHzY
— Crypto Rover (@rovercrc) September 2, 2024
Disclosure: This is not trading or investment advice. Always do your research before purchasing cryptocurrency or investing in any service.
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