- November 6, 2024
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
The post Election Season Memecoins Skyrocket: DOGE, ELON, MAGA, and DJT Lead Trending Tokens appeared first on Coinpedia Fintech News
As the U.S. presidential election results just around the corner, the cryptocurrency market is experiencing significant activity—not just with Bitcoin and Ethereum prices, but also with a flood of new memecoins. In just 24 hours, a wave of politically-themed tokens flooded the scene, as memecoins like DOGE, ELON, MAGA, and DJT have surged to the top of trending charts this week.
DOGE, ELON, MAGA, and DJT Lead the Pack
According to Santiment, a leading on-chain analytics platform, several memecoin mainly politically-themed tokens are trending across social media. Among the most discussed are Dogecoin (DOGE), Dogelon Mars (ELON), and politically-linked tokens like MAGA and DJT.
With election poll results coming in, memes are continuing to receive high amounts of discussion across social media. Keep an eye on DOGE, ELON, MAGA, and DJT as top trending cryptocurrencies this week. pic.twitter.com/Y8utpxYYhV
— Santiment (@santimentfeed) November 6, 2024
This surge in interest aligns with the latest U.S. election updates, where Donald Trump is currently leading with 51.7% of the vote, followed closely by Kamala Harris with 47.5%.
Now, with Trump’s lead capturing public attention, there’s a growing interest in tokens linked to him. Meanwhile, the combination of election news and social media buzz is helping to boost their popularity.
Election Tokens Flood the Crypto Market
According to Dextools, Election-themed tokens have flooded the cryptocurrency market. Over 40 Trump-related tokens were launched on Ethereum, and more than 100 appeared on Solana within just hours.
More established tokens, like MAGA and KAMA, have seen significant trading. With MAGA token alone pushing its market cap over $150 million. Meanwhile, the Kamala Harris-themed KAMA token rose 150% on November 1 before falling by 50%.
PolitiFi Coin MarketCap Touch $600 Mln
The trend of election-related tokens isn’t new, but it’s gaining ground as the election approaches. Data from CoinMarketCap reveals that “PolitiFi” tokens, such as the PEOPLE token from ConstitutionDAO, now hold a collective market cap exceeding $600 million.
ConstitutionDAO (PEOPLE) leads with $347 million, while MAGA-themed coins maintain steady interest as political discussions intensify.
Political tokens have been trending since September, reflecting the connection between major real-world events and the crypto market.
