This article will briefly introduce and analyze some political concept tokens, the positions of Biden and Trump on cryptocurrency policies, and how their political inclinations will impact the cryptocurrency market.
In this year's U.S. election year, presidential candidates Biden and Trump will hold the first round of debates on Thursday, June 27. Presidential debates often have a decisive impact on U.S. elections, and the candidates' performance in the debates will directly affect their support rates, thereby significantly impacting the cryptocurrency market. This article will briefly introduce and analyze some political concept tokens (PolitiFi Coin), as well as the positions of Biden and Trump on cryptocurrency policies and how their political inclinations will impact the cryptocurrency market.
TLDR;
The value of political concept tokens (PolitiFi Coin) comes from tokens named after political world topics (mainly related to the United States) and adopts a community-led promotional approach, just like common meme coins.
These tokens may or may not be issued, endorsed, and promoted by the organizations or key figures they are named after. Risk warning: such tokens often come with significant volatility and risks, and are often subject to events such as reversals and controversies.
A brief introduction to some prominent election concept tokens includes PEOPLE, MAGA, DJT, MAGAHAT, BODEN, STRUMP, etc.
This article will select noteworthy election concept tokens from different chains for discussion and also study their investment value and where they can be traded.
XT Research Institute's five-star reviewer, Tony, said:
In this election, Trump and Biden have adopted strategies that are completely different from the previous election. Last time, each had their own views, and one would go east, the other would go west. The biggest difference this time is that when one goes 50 meters east, the other immediately increases it to 100 meters east.
To please voters, the U.S.'s cryptocurrency policy has become more lenient, from Bitcoin ETF to Ethereum ETF. Recent election activities have also had a positive impact on the virtual currency market. The first round of the presidential election debate on June 27 and Trump's plan to speak at the Bitcoin 2024 conference in July have filled the market with expectations for positive cryptocurrency news.
For the cryptocurrency market, which currently lacks fundamental information and heavily relies on macro information for price movements, this is undoubtedly a positive signal. Specifically for Trump and Biden, one is full of meme qualities, while the other is an establishment figure. This is a good thing for voters or users, as it covers all the tracks and themes that can be hyped.
Now let's review the key dates of the U.S. election (for details, please read the previous article: U.S. election meme on XT.com):
Thursday, June 27, the first debate between U.S. President Joe Biden and his challenger, former President Donald Trump, will take place.
September 10, the second debate. These two debates are basically the last time to sway voters.
November 5 (the day after the first Monday of November in the election year) is election day, and the election results will be announced that evening.
January 20, 2025, the elected person will be inaugurated.
I. What are the tokens that have entered the public eye and have a large market value?
Compared to the Biden administration, Trump has openly expressed more love and understanding for cryptocurrencies. This also indicates that Trump may push for a regulatory environment more favorable to the development of cryptocurrencies. Many tokens related to Trump have appeared on the market, far more than those related to Biden. These meme tokens related to the U.S. presidential election may attract attention during the intense debate period. Let's take a look at the potential layout opportunities together:
PEOPLE (ConstitutionDAO): Initially issued by ConstitutionDAO on the decentralized crowdfunding platform JuiceBox, it is an ERC-20 governance token based on donation proof. During the crowdfunding period, donating 1 ETH would yield 1,000,000 PEOPLE tokens. With a total circulation of 5.06 billion, 100% in circulation, it currently has a market value of $470 million, ranking 129th, and was first issued on November 26, 2021. Within a month of its initial release, it reached its all-time high price of $0.185 per token, and is currently trading at $0.09 per token. If the cryptocurrency industry is mentioned and supported during the debate period, PEOPLE will undoubtedly experience a wave of growth.
MAGA (Trump): A meme coin named after former U.S. President Trump and his campaign slogan "Make America Great Again" (MAGA). The current U.S. president has also been used in similar projects (such as Biden and his meme "Jeo Boden"). Although Trump did not directly participate in the issuance and trading of MAGA tokens, the project's creators gifted him 580,000 tokens. The project also claims to donate part of its income to charity organizations. Since its launch on August 11, 2023, MAGA has built a large community, with over 50,000 cumulative holders. MAGA saw a significant price increase in 2024. On June 1, 2024, MAGA reached a historic high of $17.66, but has since retraced significantly to below $9. With the first debate approaching this Thursday, it may experience volatility.
MAGA (MAGA Hat): Trump's hat, currently valued at $145 million, ranked 322nd on CMC, and was first issued in May this year. MAGA represents a broader movement and has a strong community. If Trump's support rate rises during the debate period, related meme tokens will experience a significant increase.
BODEN (Jeo Boden): BODEN is the largest of the spoof meme tokens referencing political figures, currently valued at $112 million, ranked 384th on CMC, and was first issued in March this year. When the token was first launched, a trader named paul.sol purchased millions of BODEN tokens for less than $0.05 per token and quickly made a profit of $7 million. In June, just an hour after President Biden's son Hunter Biden was convicted of three federal firearms violations, BODEN surged by 14%. This increase was in contrast to the situation after Trump was convicted, when most meme tokens associated with him plummeted, once again proving that meme token trading is full of randomness.
DJT (TrumpCoin): The well-known foreign media Pirate Wires posted on June 17th that Trump would launch an official token called TrumpCoin, with the token name DJT, and claimed that his 18-year-old son Barron is the actual controller of the token. Upon the news, the price of DJT briefly surged to over $0.04, but after the Trump team did not confirm the token issuance, a series of rumors and denials led to a maximum intraday decline of nearly 66.7%. The price has now fallen to $0.013 per token, with a market value of $164 million.
II. ETH Ecosystem
PEOPLE (ConstitutionDAO)
Contract Address: 0x7a58c0be72be218b41c608b7fe7c5bb630736c71
Trading Platforms: XT.COM, Binance, OKX, Bybit, Gate, HTX, KuCoin, MEXC, Bitget, Bitmart, BingX, LBank, Uniswap (DEX)
MAGA (Trump)
Contract Address: 0x576e2BeD8F7b46D34016198911Cdf9886f78bea7
Trading Platforms: XT.COM, MEXC, Bitmart, BingX, Uniswap
MAGA (MAGA Hat)
Contract Address: 0xd29da236dd4aac627346e1bba06a619e8c22d7c5
Trading Platforms: XT.COM, Gate, MEXC, HTX, Bitmart, LBank, CoinW, Uniswap
STRUMP (Super Trump): A superhero comic version of Trump, aimed at leveraging the upcoming U.S. presidential election, has become one of the top presidential concept meme tokens.
Contract Address: 0x7039cd6d7966672f194e8139074c3d5c4e6dcf65
Trading Platforms: XT.COM, MEXC, Bitmart, LBank, BingX, Uniswap
MAGANOMICS (Maganomics): Released in June this year, MAGA (Make America Great Again) Trump concept token, has continuously increased in market value since being taken over by the community within a week of issuance, now exceeding $23 million. With the opening of the presidential debate and the rise in Trump's support rate, it has the potential to become the next prominent meme token.
Contract Address: 0x7E744BBB1a49A44dfCC795014a4BA618E418FbBE
Trading Platforms: Uniswap
FREE (FreeRossDAO): Launched by FreeRossDAO to support Silk Road founder Ross, raise funds to purchase his Genesis Collection, and protest the unfairness of the U.S. prison system. FreeRossDAO successfully acquired Ross's Genesis NFT and split it. People can obtain partial ownership of the NFT through the FREE token. FREE has experienced sudden surges due to related news over the past two and a half years, and recently experienced significant volatility due to various election news. Similar to the FREE concept is the token JUSTICE, which aims to pardon WikiLeaks founder Assange.
Contract Address: 0x4cd0c43b0d53bc318cc5342b77eb6f124e47f526
Trading Platforms: MEXC, Uniswap
BOBBY (Kennedy Memecoin): A meme created in the image of former President Kennedy, advocating for Web3 policies as a staunch supporter of cryptocurrency. Currently, it has a relatively small market value, less than $3 million.
Contract Address: 0xa462bdE22D98335E18A21555b6752dB93a937cFf
Trading Platforms: Bitmart, Uniswap
BIDEN (Joe Biden): A presidential concept token in the ETH ecosystem, related to Joe Biden, with a market value of $8 million. Previously launched on the XT exchange.
Contract Address: 0xc548e90589b166E1364DE744E6d35d8748996FE8
Trading Platforms: XT.COM, Uniswap
MVP (MAGA VP): A presidential meme token related to Trump, rewarding MVP holders in MAGA TRUMP, with a current market value of around $12.3 million.
Contract Address: 0x766d2fcECe1E3eeF32aae8711ab886eE95fd5B2A
Trading Platforms: XT.COM, Bitmart, LBank, Uniswap
III. Solana Ecosystem
The Solana network has maintained a long-term wave of meme coins, launching thousands of tokens daily, with their value mainly derived from interesting events, graphics, animals, and celebrity associations. Platforms like pump.fun have emerged, raising funds and creating trading pairs directly on Raydium after reaching the fundraising target. Recently, DEXScreener also added a Moonshot launch feature, similar to Pump. Despite the high volatility of meme coin projects, the high liquidity and low transaction fees on the Solana network make meme coin projects more easily accepted and traded by investors, creating favorable conditions for the prosperity of such projects. Below are several prominent meme tokens related to the U.S. election in the SOL ecosystem that have previously gained popularity:
TREMP (Doland Tremp)
Contract Address: FU1q8vJpZNUrmqsciSjp8bAKKidGsLmouB8CBdf8TKQv
Trading Platforms: XT.COM, MEXC, HTX, LBank, CoinW; On-chain trading available on Jupiter, Raydium, Orca, and other DEX platforms
BODEN (Jeo Boden)
Contract Address: 3psH1Mj1f7yUfaD5gh6Zj7epE8hhrMkMETgv5TshQA4o
Trading Platforms: XT.COM, BingX, Kraken; On-chain trading available on Backpack, Raydium, Orca, and other DEX platforms
TOOKER (Tooker Kurlson)
Contract Address: 9EYScpiysGnEimnQPzazr7Jn9GVfxFYzgTEj85hV9L6U
Trading Platforms: XT.COM; On-chain trading available on Raydium, Orca, and other DEX platforms
TMANIA (Trump Mania)
Contract Address: HuPspkki5Qdnf5WAU7jtEThkeMhni6XQ23tunZRkZWUi
Trading Platforms: CoinW, Raydium, Jupiter
TRUMP (MoonTrump)
Contract Address: BqhNdGtS1Nqtzi2MvZ7G8NN1vRuHZ12UpHGJKe71e1JT
Trading Platforms: Raydium, Jupiter
OBEMA (Obema)
Contract Address: CzkM8bzWFdXsjtZQnz2piTxJKPtJ5mfTL8S6sNZg7n7S
Trading Platforms: Raydium, Jupiter
DJT (TrumpCoin)
Contract Address: HRw8mqK8N3ASKFKJGMJpy4FodwR3GKvCFKPDQNqUNuEP
Trading Platforms: XT.COM, MEXC, LBank, Bitmart, BingX; On-chain trading available on Raydium, Jupiter, Orca, and other DEX platforms
KAMA (Kamala Harris): A token based on Vice President Kamala Harris, currently valued at $1.7 million.
Contract Address: HnKkzR1YtFbUUxM6g3iVRS2RY68KHhGV7bNdfF1GCsJB
Trading Platform: Raydium (DEX)
IV. Base Ecosystem
The election concept meme tokens in the Base ecosystem have not yet shown a breakout effect, with generally small market values. Most of them have not yet been listed on centralized exchanges and can only be traded on Uniswap.
GTRUMP (Giga Trump): A Trump concept token created a month ago, quickly rose to the top of the Dexscreener hot list after its launch, and currently maintains a market value of $2.2 million.
Contract Address: 0x2D570B062872Ee7f459E8283c14be977289396bF
BAGS (TrumpsBags): 5% of USDC from each transaction of BAGS is directly sent to Trump's wallet, automatically supporting the Trump crypto community.
Contract Address: 0x5589d7eD64A96EF2c60F9a218204425f83396ae8
TRUMP (MAGA): The MAGA token on the Base chain, currently valued at $8.2 million.
Contract Address: 0x2e1d332893Dc16124194E598a29866D2d5e8786b
USA (BASED USA): Currently valued at $4.2 million.
Contract Address: 0xb56d0839998Fd79EFCD15c27cF966250AA58D6D3
V. Polygon Ecosystem
In the Polygon ecosystem, there is a highly participatory voting project called Polymarket, which is a decentralized information market platform that allows users to trade predictions on various hot topics and future events. Users can build investment portfolios based on their own judgments of the future and, if correct, earn corresponding profits. The market price on Polymarket reflects the collective assessment of traders on the probability of events, providing users with an unbiased real-time data source. These data and trends may directly affect the prices of meme tokens. On Polymarket, there is a political section, and currently, the controversy surrounding the Biden and Trump elections is the most popular topic. Participation website: Polymarket
Trump's NFT Series: Since the end of 2022, Trump has released several Trump Digital Trading Cards series, with total sales amounting to millions of dollars.
The first season of 45,000 NFTs was released on the Polygon chain in December 2022, priced at $99 each. This series sold out rapidly within 12 hours of its release.
On April 19, 2023, Trump announced the launch of the second season of Trump Digital Trading Cards on his social platform Truth Social. This series of NFTs is also minted on the Polygon blockchain, priced at $99 each, with a total issuance of 47,000, of which 46,000 are available for sale. The second series once again sparked widespread market attention and investment fervor.
On December 13, 2023, Trump launched the third NFT series, Mugshot Edition, with a total issuance of 100,000 NFTs, of which 99,000 are available for sale, also priced at $99 each. Users who purchase 47 NFTs will have the opportunity to have dinner with Trump and receive a suit worn by Trump when he was arrested in August. On May 13, 2023, Trump invited some of his NFT holders to a dinner party as promised.
VI. Risks Related to Political Tokens
Although PolitiFi meme coins may have some appeal, such as the opportunity for quick profits, they also come with some risks:
Political Sensitivity and Volatility:
Political concept tokens are often linked to specific political figures, events, or issues. Due to the rapidly changing political environment, these tokens are easily influenced by factors such as political opinions and policy orientation, leading to significant price fluctuations and higher market risks for investors. Since their value depends on community activity, with almost no or minimal tokenomics strategy, most meme coins have their entire supply in circulation, with a small market cap and no listing on centralized exchanges, leading to poor liquidity. This may make it difficult for investors to buy and sell in a timely manner. Political concept tokens are also susceptible to the influence of public opinion, negative news coverage, and controversial discussions on social media, all of which can lead to rapid token price declines.
Rug Pull Risk:
One characteristic of meme coins is their low entry barrier, which applies to both traders and creators. Anyone can create a meme coin and manage token supply and smart contract protocols. Due to the currently low regulatory oversight in this area and numerous precedents of social media account theft, unscrupulous creators may have a negative impact on liquidity pools.
Many political concept tokens often lack a clear economic model and token value support, making them susceptible to speculation. Project teams may use fan effects and FOMO psychology to quickly attract investors, ultimately leading to token price collapses and significant losses for investors.
Rug pull refers to the creator of a token or liquidity pool adding their tokens to the pool along with standard cryptocurrencies such as ETH, SOL, USDT, and then withdrawing all funds after investors buy in, rendering the token untradeable and nearly worthless. Even with solutions such as liquidity locking, this situation can still occur, especially in the presence of contract vulnerabilities, where creators can even set blacklists or mint more tokens indefinitely.
Compliance Risk and Legal Disputes:
Many political concept tokens may involve issues such as intellectual property infringement and unauthorized use of political figures' images. Relevant parties may face legal lawsuits, bringing uncertainty and risks to the project and investors. Additionally, some political concept tokens may violate regulatory requirements, facing compliance risks such as being halted or having their trading canceled.
VII. Conclusion
Different types of cryptocurrencies have their own characteristics and investment logic. Meme coins mainly rely on emotions and FOMO effects, which are more in line with Trump's political style and aura, while VC coins are more in line with Biden's tone. Investors need to carefully select investment types based on different market environments and cycles, and remember that they can only "date" with meme coins, not "marry" them. In the current market, meme coins may be more suitable for a quick investment strategy.
The first round of the election debate will be one of the final showdowns between the two candidates. The intense debate will not only attract national attention but also directly influence the election results. Investors should closely monitor the candidates' attitudes and statements on cryptocurrency during the debate. Every statement in the debate could be a key opportunity for meme hype, and the outcome of the election debate may become an important indicator for investment targets. Investment needs to follow the trend and seize market opportunities.
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