Cryptocurrency investors see different types of assets become popular in each period. Metaverse, NFT tokens, and more. AI altcoins are still at the top, and the excitement for new meme coins faded a few months ago. How come new meme coins faded, yet Trump Coin and its alternatives remain popular?
PolitiFi in Cryptocurrencies
They remain popular because now there is a field called PolitiFi in the lives of cryptocurrency investors. After DeFi, NFT, and Metaverse, we are now experiencing days when politicians’ cryptocurrencies are popular, making headlines, and gaining abnormal values. Hours ago, we shared the news that the price of a meme coin plummeted after the announcement of Trump’s penalty. We mentioned that these things have now turned into a poll, a race vehicle, and even a betting button.
This is exactly what we are seeing these days. As the 2024 US Presidential elections approach, we may see increased excitement, volumes, and price movements in the PolitiFi field towards November. It is even likely that exchanges, benefiting from the volume generated as the election date approaches, will list these tokens just like they do with fan tokens and new meme coins.
PolitiFi Altcoins
There is a very important detail you need to pay attention to here. Which altcoin is the volume concentrated on for the relevant political figure, does the person who launched this token have a history of fraud, and can it really gain value? Tokens purchased without considering such details will not be much different from fake fan tokens.
TRUMP Coin is approaching a market value of 1 billion dollars. Moreover, this token also goes as a donation to TRUMP, and a possible share from the potential Republican presidential candidate could rapidly increase its price.
Many investors are making profits from this. For example, the 0x5Fc address spent $25 to buy 376,000 TRUMP tokens 10 months ago. It sent most of them (350,000 tokens) to 0xc31, who has not sold a single one since then. 0xc31’s TRUMP holdings are now worth over 5 million dollars. This means a 200,000-fold gain.
BIDEN Coin was launched about 4 months after TRUMP. The F44 address made its first BIDEN purchase only one day later, spending a total of $17,500. Its BIDEN holdings are now worth over $550,000. A memecoin associated with Robert F Kennedy Jr., BOBBY, also brought thousands of dollars to the 0x321 address.
