Political memes circulating, Biden and Trump in a showdown?

As the U.S. presidential election heats up, the cryptocurrency market has also seen a surge in political meme tokens. According to CoinGecko's PolitiFi token section, PolitiFi currently has a total market capitalization of 1.5 billion USD, with the top three tokens being MAGA with code TRUMP, ConstitutionDAO with code PEOPLE, and Jeo Boden with code BODEN.

PolitiFi Meme Coins Stir Up

CoinGecko added a new token category in March called PolitiFi tokens, which is a meme coin category related to political figures. PolitiFi currently has a total market capitalization of 1.5 billion USD, with the top three tokens being MAGA with code TRUMP, ConstitutionDAO with code PEOPLE, and Jeo Boden with code BODEN.

According to CoinGecko, PolitiFi is a meme coin category consisting of tokens named after political figures, but these tokens have no official affiliation.

MAGA with code TRUMP

The largest market cap among them, the Trump meme coin MAGA with code TRUMP, surged from 4 USD in May to the current price of 13.99 USD, driven by Trump's supportive comments on cryptocurrency. It saw a 55% increase in the past 7 days, causing Trump's crypto assets to skyrocket to tens of millions of USD.

Trump's crypto assets soar to tens of millions of USD as MAGA meme coin surges

ConstitutionDAO with code PEOPLE

On the other hand, ConstitutionDAO with code PEOPLE rose by 27% in the past 7 days. ConstitutionDAO is a decentralized autonomous organization (DAO) established in 2021, aiming to purchase a copy of the U.S. Constitution at a Sotheby's auction. However, as reported by The Block, it was eventually outbid by Citadel's founder and CEO Kenneth Griffin, who won the auction with a bid of 43.2 million USD.

Jeo Boden with code BODEN

The token named after President Biden, Jeo Boden with code BODEN, rose by 6% within 24 hours. Major cryptocurrencies experienced slight declines in the past day, with Bitcoin dropping by 1.12% and Ethereum falling by 1.78% in the last 24 hours.