Crypto is a diverse sector, containing all types of projects, from serious ones to light-hearted ones like meme coins. Over the past decade, meme coins have attracted massive investor attention as they promise significant returns. While most of them are inspired by popular internet memes, some draw inspiration from political events and figures.
Politically inspired meme coins are placed into a category called PolitiFi. To learn more about PolitiFi meme coins, we recommend reading this guide.
PolitiFi Tokens Defined
As mentioned, PolitiFi tokens are inspired by political events and figures. Their developers usually misspell them. For example, there is a meme coin called Kamala Horris, which draws inspiration from US Vice President Kamala Harris.
The primary idea of PolitiFi meme coins is to incorporate political commentary into crypto assets to allow investors/traders to speculate on them based on current political events. For instance, when former US President Donald Trump escaped an assassination attempt in July 2024, several PolitFi tokens referencing the incident were created.
Which Blockchains Host PolitiFi Meme Coins?
Like most meme coins, PolitiFi tokens are built mainly on Solana and Ethereum. However, Coinbase’s network Base has witnessed significant adoption in recent months. Of the three blockchains, Solana hosts the most PolitiFi meme coins thanks to platforms like Pump.fun, which enable token creators to launch their projects without providing liquidity.
Since Politically inspired coins do not have utility and their value is determined solely by social media trends, they tend to be extremely volatile and can plummet within seconds. For instance, when US prosecutors brought 34 felony charges against Donald Trump earlier this year, most Trump-inspired meme coins, including MAGA, saw their value plunge significantly. However, they recovered their losses a few weeks later after Trump’s pro-crypto speech during the Libertarian National Convention.
Although they lack utility, some PolitiFi coins have attained massive market capitalizations in the past, indicating their growing popularity among degens.
Popular PolitiFi Meme Coins
As the US Presidential elections near, multiple PolitiFi meme coins are entering the market. Here are some of the most popular:
1. TRUMP (MAGA): This meme coin is inspired by Donald Trump’s famous saying, “Make America Great Again.” It is one of the few PolitiFi tokens with a market cap of more than $100 million. According to data from Dexscreener, MAGA has a market valuation of $136 million and trades at $2.96 as of August 15th, 2024. The token is built on Ethereum.
2. MAGA hat: This is another Trump-themed meme coin that lives on the Ethereum blockchain. Data from CoinGecko shows MAGA hat trading at $0.00005 with a market cap of $20.5 million.
3. Doland Tremp: This PolitiFi token runs on the Solana network. As the name suggests, it draws inspiration from Donald Trump. As of this writing, the meme coin is valued at $0.1428 with a market valuation of $14.2 million.
4. Jeo Boden: Inspired by US President Joe Biden, Jeo Boden is a popular PolitiFi meme coin on Solana. It has a market cap of $4.9 million and is priced at $0.007142. The token lives on Solana.
5. Kamala Horris: As mentioned earlier, Kamala Horris is a token that draws inspiration from the US Vice President. It rallied significantly in July when the Democrats endorsed Harris’ presidential bid. The Solana-based meme coin is valued at $0.00098 with a market capitalization of $980,000.
6. ConstitutionDAO: This project started as a governance token for the famous DAO (decentralized autonomous organization) that planned to raise funds to purchase a copy of the American Constitution. However, after the plans failed, the organizers abandoned the project. The members of the DAO have since rebranded the ConstitutionDAO token to a PolitiFi meme coin, which boasts a market cap of $226 million. The Ethereum-based coin is valued at $0.052.
Conclusion
PolitiFi meme coins have proven to be key elements driving crypto adoption. Moreover, investing in them can be highly profitable. However, only invest an amount you are willing to lose since these tokens can plummet at any time.
