Top 5 Political Finance (PolitiFi) Tokens: U.S. Election Crypto Special

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With the U.S. Presidential elections on the horizon, political memecoins have emerged as the latest fascination of the crypto world in 2024.

Cryptocurrencies named after presidential candidates Joe Biden and Donald Trump have returned significant gains since the start of the year and have outperformed large caps such as Bitcoin (BTC) and Ethereum (ETH).

What are the top five political finance (PolitiFi) tokens and memecoins in the market? Let’s find out.

Key Takeaways

  • MAGA ($TRUMP) was the top political finance token, having gained over 5,800% so far in 2024.
  • There are numerous memecoins named MAGA and TRUMP.
  • Solana-based parody tokens that misspell names of presidential candidates Joe Biden and Donald Trump also make the list.
  • Andrew Kang of Mechanism Capital said Trump will continue to make headlines in 2024.
  • Donald Trump is believed to hold ETH, USDC, MATIC, $TRUMP and several other political meme tokens worth over $12 million.

Top 5 Political Memecoins

The following political memecoins are ranked based on their market cap, as of May 30, 2024, according to data compiled by CoinGecko.

1. MAGA ($TRUMP)

The MAGA memecoin is one of the oldest political memecoins in the market. The token is inspired by former U.S. President Donald Trump’s campaign slogan: “Make America Great Again.”

Trump’s endorsement of the crypto industry has made him a popular figure within the crypto community. His growing popularity has seen numerous Trump-inspired memecoins emerge. However, MAGA remains the most popular Trump-inspired memecoin with the biggest valuation.

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Launched in August 2023, the MAGA memecoin currently holds a market cap of over $582 million making it the largest political memecoin in the world, as of May 30, 2024.

The token memecoin has gained over 5,800% year-to-date in 2024, making it one of the top-performing tokens of the year. Crypto traders are using memecoins like MAGA to place bets on the U.S. presidential race.

On May 27, 2024, crypto research firm Arkham Intelligence reported that Trump held over 579,000 MAGA tokens worth over $7.7 million.

Readers should be aware that there are numerous memecoins named MAGA and TRUMP. The one mentioned above is currently available on Ethereum, Solana (SOL), BNB Chain (BNB) and Base. Always verify memecoins using market data and contract address before investing.

2. ConstitutionDAO ($PEOPLE)

ConstitutionDAO is a decentralized autonomous organization (DAO) established in 2021 with the objective of purchasing one of the original copies of the U.S. Constitution that was on auction at Sotheby’s.

The DAO fell short of its goal despite raising over $40 million after hedge fund billionaire Kenneth Griffin outbid competition and won the first-edition U.S. Constitution copy for $43.2 million.

The ConstitutionDAO was dissolved thereafter. The raised funds were refunded to all 17,437 contributors.

ConstitutionDAO contributors had the choice to avail their refunds in ETH and in a token called $PEOPLE.

ConstitutionDAO clarified that the organization “cannot and will not endorse any future plans for the token” and added users can “do with them as you please.”

As of May 29, 2024, PEOPLE held a market cap of $389.8 million. The token has surged over 500% year-to-date.

3. MAGA Hat ($MAGA)

The MAGA Hat memecoin is yet another Trump-themed cryptocurrency that has produced outsized gains for investors in 2024. The token’s name and logo is inspired from Trump’s iconic and controversial red MAGA hat.

As of May 30, 2024, the MAGA Hat token is barely one month old. Etherscan data showed that the token first traded in the decentralized crypto market on May 16, 2024.

The token gained over 5,000% within the first two weeks of its launch. At the time of writing, MAGA Hat token’s market cap stood at $216.2 million making it the third largest political memecoin in the world.

4. Jeo Boden ($BODEN)

BODEN is a parody crypto token that deliberately misspells U.S. President Joe Biden’s name as “Jeo Boden”. The token launched on the Solana (SOL) blockchain in early March 2024.

The memecoin has surged over 750% since its inception. The gains have come despite President Biden’s reluctance to embrace the crypto industry in the same manner as his rival Trump.

However, The Block reported that the Biden camp is beginning to recognize the influence that the crypto community could have on the presidential race.

According to the media firm, the Biden camp has reach out to crypto industry experts to seek guidance on “crypto community and crypto policy moving forward.”

As of May 30, 2024, BODEN’s market cap stood at $204.8 million.

5. Doland Tremp ($TREMP)

Capping the list of the top five PolitiFi cryptocurrencies is another Solana-based misspelled memecoin Doland Tremp. Like BODEN, TREMP is a parody token that misspells Donald Trump’s name.

Since its early-March 2024 launch, TREMP has returned over 788%, as of May 30, 2024, outperforming its counterpart BODEN’s 750% increase in the same period.

At the time of writing, TREMP’s market cap stood at $204.8 million.

Analyst View on Political Finance Tokens

Andrew Kang of crypto investment firm Mechanism Capital said that his firm has accumulated positions centered around Trump and Trump-related meme coins and NFTs ahead of the November 2024 U.S. Presidential elections.

According to Kang, the thesis behind this investment was that Trump is “going to be in headlines everywhere all the time, and people are constantly going to be talking about Trump” as the presidential race heats up.

“Meme coins are all about the attention economy and Trump is probably one of the best attention monopolizers in the world,” said Kang.

Kang added that not only will Trump be regularly making headlines due to state and territory elections occurring almost every week but Trump’s ongoing court cases are also expected to draw media attention to the former U.S. president.

Kang closed his investment thesis post by saying that $TRUMP was the “first memecoin I’ve seen that I believe can rival Doge/Shib.”

What Cryptocurrencies Does Donald Trump Hold?

Donald Trump held ETH, USDC, MATIC, $TRUMP and several other political meme tokens worth over $12 million, as of May 30, 2024, data compiled by Arkham Intelligence showed.

Readers should note that anyone can send tokens to an address. Therefore, if a token is held in Trump’s crypto wallet that does not mean he endorses it. It could be a donation from another crypto user.

Nevertheless, here is a list of Donald Trump’s crypto holdings, as of May 30, 2024:

Key Takeaways

Crypto Holdings Value, as of May 30, 2024
$TRUMP 579,290 tokens $7.7 million
ETH 464 tokens $1.75 million
WETH 374 tokens $1.41 million
MVP 1 million tokens $572,000
CONAN 20 billion tokens $266,210
BABYTRUMP 950,000 tokens $167,550
USDC 15,594 tokens $15,590
STRUMP 474 tokens $5,520
MATIC 5240 tokens $3,710
PEPECOIN 420 tokens $2,390

The Bottom Line

The grand crypto casino has presented investors with yet another interesting theme to speculate on. The market cap of PolitiFi tokens and memecoins has been on a consistent uptrend for most of the year as trading volumes continue to increase. We can expect this trend to continue as the U.S. presidential elections reach their climax at the end of the year.

If you are interested in investing in PolitiFi tokens and memecoins, we would like to remind readers that cryptocurrencies are highly volatile and risky. Always do your own research before investing and note that past performance is no guarantee of future returns.

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Mensholong Lepcha
Crypto & Blockchain Writer
Mensholong Lepcha
Crypto & Blockchain Writer

Mensholong is an experienced crypto and blockchain journalist, now a full-time writer at Techopedia. He has previously contributed news coverage and in-depth market analysis to Capital.com, StockTwits, XBO, and other publications. He started his writing career at Reuters in 2017, covering global equity markets. In his free time, Mensholong loves watching football, finding new music, and buying BTC and ETH for his crypto portfolio.