Creating a successful cryptocurrency is not easy, but making a cryptocurrency is very easy. No other type of coin has proven this more than memecoins. There are currently 2,742 memecoins listed on CoinMarketCap, and more are being made daily. But despite their large number, memecoins have become high performers, and one group of memecoins has performed especially well.

Political Finance tokens, or “PolitiFi” as they are more popularly known, have become 2024’s biggest gainers in the memecoin society. PolitiFi tokens make up a tiny fraction of the entire memecoin sector, yet political coins have earned a market cap surge of 667% in 2024, and it’s still just August.

More: #PolitiFi Memecoins: The Impact of Political Events on Cryptocurrency Market

Data from CoinGecko shows that coins such as MAGA (TRUMP), ConstitutionDAO (PEOPLE), and others in the Politifi space had a market cap of $592.4 million as of August 27. This is a tremendous seven-fold increase from the start of 2024. 

This impressive growth from the PolitiFi sector completely outclasses the growth of the broader memecoin category, which contains some of the top memecoins — including Dogecoin (DOGE) and Shiba Inu (SHIB). According to data from CoinGecko, this class of memecoins has only managed a 73% growth within the same time frame.

A further breakdown of the PolitiFi coin surge showed that most of the largest political memecoins are currently related to US presidential candidate Donald Trump. The top five PolitiFi tokens by market cap include MAGA (TRUMP), MAGA HAT (MAGA), Super Trump (STRUMP), and Doland Tremp (TREMP). 

However, while Donald Trump-related coins may have the numbers, the PolitiFi coin with the most important number is ConstitutionDAO. The “single purpose” decentralized autonomous organization (DAO) has an individual market cap of $334.6 million. 

ConstitutionDAO, unlike other PolitiFi coins, is not tied to any particular political figure. It was formed in November 2021 to purchase a first-edition copy of the US Constitution. The project would later fail as it lost the auction to billionaire Kenneth Griffith, who bid $43.2 million for the constitution. Despite the failure of the initial project, the token ConstitutionDAO (PEOPLE) continued to trade.

MAGA (TRUMP) also takes some of the spotlight as the second largest PolitiFi coin by market cap. The Trump-related token currently has a market cap of $149.7 million. It is essential to know that the token has no actual affiliation with the former President of the United States; however, some of Trump’s actions certainly influence the coin.

MAGA rose almost 80% in a day when Trump won a landslide victory at the 2024 Iowa Republican presidential caucuses in January. It also rose 22% when Trump was found guilty of 34 counts of hush money payments and once more by 41% after Trump’s famous assassination attempt. 

Although they still have a relatively small space in the memecoin community, PolitiFi tokens have shown that they are some of the biggest players, and they don’t seem to be stopping anytime soon. 

TOP Political Coins of 2024: PolitiFi Tokens to Watch | HODL FM
Explore top political coins of 2024 in the booming PolitiFi trend.
hodl-post-imageHODL FM: The Wildest Ride in the Crypto MarketAbimbola Adu
hodl-post-image

Disclaimer: All materials on this site are for informational purposes only. None of the material should be interpreted as investment advice. Please note that despite the nature of much of the material created and hosted on this website, HODL FM is not a financial reference resource and the opinions of authors and other contributors are their own and should not be taken as financial advice. If you require advice of this sort, HODL FM strongly recommends contacting a qualified industry professional.