Political meme tokens themed around former U.S. President Donald Trump have rallied impressively in the crypto market, driven by U.S. election hype. Some, like DJT and Pepe (TRUMP), saw gains exceeding 120% in the past 24 hours. This surge propelled the overall market cap of PolitFi tokens up by 5.4%, reaching a valuation of $685 million.
MAGA, TrumpCoin, Super Trump Surge
Source: CoinGecko
Notable gains came from tokens like MAGA, TrumpCoin (TRUMP), and Super Trump (STRUMP). DJT led with a 129.1% increase, while Pepe (TRUMP) followed closely with a 124.3% gain. Other tokens, including MAGA, TRUMP, STRUMP, and MAGA Pepe (MAPE), saw steady increases, ranging from 58% to 14% throughout the day.
Kamala Harris Coin Sees Gains Too
On the Democratic side, Kamala Harris-themed token, Kamabla (KAMABLA), posted a 32.7% gain, recording highs of $0.00078 within the same period. Despite Harris’s coin gaining, Trump-themed tokens remain market leaders as the election day approaches.
Investors Follow Election Sentiment
Crypto traders anticipate price swings with each development in the U.S. election. Trump’s support of crypto, with pledges to make the U.S. a “crypto capital” and introduce a Bitcoin reserve, has added appeal to these themed tokens. However, experts suggest these ‘event coins’ may lose value post-election, unless they build genuine utility to establish long-term market relevance.
