This year, politically-themed tokens have taken the crypto market by storm, surging an impressive 782.4%, far outpacing the modest 90% rise seen in meme coins.
Leading the charge is ConstitutionDAO’s token, PEOPLE, which boasts 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 experiencing spikes in value following major news events.
POLITIFI TOKENS OUTPERFORM MEME COINS: 780% SURGE IN 2024!
Politically-themed tokens are making waves this year, skyrocketing 782.4% compared to meme coins' 90% rise.
ConstitutionDAO (PEOPLE) leads the pack with a $385.6M market cap, up 494.3% since January, while TRUMP-themed… pic.twitter.com/aJhxEiGLjp
— IBC Group Official (@ibcgroupio) September 2, 2024
As the U.S. presidential election draws closer, these politically-themed tokens are expected to remain in the spotlight, potentially driving further gains.
In stark contrast, meme coins have had a tough year. Over the past 12 months, the top 10 meme coins have suffered an average decline of 63.73% from their peak values.
Notable drops include $DOGE, down 57.93%, $SHIB with a 70.86% decrease, and $PEPE, which has fallen 58.16%. Other meme coins like $WIF and $BONK have also seen significant losses, dropping 70.93% and 64.63% respectively. Even the once-popular $FLOKI has plummeted by 65.97%.
Over the past year, the top 10 #MEMEcoins have dropped an average of 63.73% from their peak.$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 that they could see a resurgence if the Bitcoin rally picks up steam again.
As we move closer to the election and the crypto market continues to evolve, the contrasting fates of politically-themed tokens and meme coins will be something to watch. Whether meme coins will rebound or continue to decline remains to be seen, but for now, political tokens are the clear winners in this year’s crypto race.
$BULL on Tron is consolidation nicely.
I am not worried.
Memecoins will make a strong comeback once the #Bitcoin 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 buying any cryptocurrency or investing in any services.
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