This Year's Hot Trend: Political Meme Coins
The US presidential election will be held at the end of this year, and the crypto market has spawned many political meme coins. Many people either don't understand these meme coins, don't bother to participate, or don't know how to participate, but these meme coins respond to market topics and heat, and the returns are quite considerable. With the effect of interest rate cuts, the meme coin market will only get crazier in the future. So what are the political meme coins, and how should we participate? Let's take a look.
The Soaring History of $TRUMP Coin
The most famous political meme coin, $Trump (MAGA), was created on Ethereum by anonymous Trump supporters in August 2023. Although it didn't perform much in 2023, it has had multiple surges this year. Between February and March, it skyrocketed from less than $1 to over $11, a monthly increase of over 1000%. In May, it surged again, with a gain of over 400%. From the lowest point to the highest point, it even achieved an increase of over 400 times, which is very impressive. Although the hype has since subsided, it seems to be brewing another wave of growth.
What Other Political Meme Coins Are Worth Watching?
This round of political meme coins is inseparable from the two presidential candidates and the US political circle. Here is a summary:
$TRUMP (ETH)
The Trump meme coin, with Trump himself holding 560,000 tokens, has a current market value of $210 million.
$TREMP (Solana)
$TREMP is also a Trump meme coin, but it is deployed on the Solana chain, with a current market value of $36 million.
$FIGHT (ETH, Solana)
$FIGHT token is a meme of the spiritual call after Trump's assassination, available on both Ethereum and Solana, but mainly traded on Ethereum, with a current market value of $12 million.
$KAMA (Solana)
$KAMA is the meme coin of Kamala Harris (the current US Vice President and Democratic presidential candidate), which is also quite popular as Trump's opponent, with a current market value of $9 million.
$BODEN (Solana)
$BODEN was once a popular Biden meme coin, intentionally misspelled to hype it up, but the current heat has dissipated, with a market value of $6.5 million.
$PEOPLE (ETH)
$PEOPLE is the US Constitution meme coin, launched by ConstitutionDAO in 2021 as a crowdfunding platform to purchase a copy of the Constitution, although they ultimately failed to do so, the community consensus has been established, and it has become a unique meme coin with a current market value of $390 million.
For more information on political meme coins, we recommend reading: The Sector that Even Trump is Playing! What is PolitiFi and the Related Tokens? - Daily Coin Research
How to Understand Political Meme Coins and Discover Early Opportunities
In the above, we quickly understood the emergence and types of political meme coins, knowing that these meme coins are mainly driven by the US presidential election. With the election still a month away on November 5th, and the presidential inauguration period until January 20, 2025, these meme coins are likely to become a focus of community speculation.
Keeping a close eye on issues related to the US presidential election is also crucial. For example, in July, when Trump was assassinated, the rallying cry "Fight!" directly gave birth to the $FIGHT token, and the price quickly soared, achieving over 1000% growth in less than a week. However, the highest price was not reached until the 4th day after the assassination incident, so there was an entry opportunity.
The reason meme coins are so attractive is that each time the market sentiment comes, the upward momentum is quite considerable, and political meme coins are no exception. However, it is not easy to capture the market trends in a timely manner. But there are some good methods and tools worth trying.
Useful Meme Coin Tool: gmgn.ai
The first-hand token generation happens on-chain, so only centralized exchanges like Binance and OKX cannot capture these opportunities. The gmgn we previously compiled is a very useful tool. In addition to being able to track smart money, it can also reflect the current hot spots in real-time, and find all political meme coins, and directly connect wallets for trading, making it an indispensable tool for meme coin hunters.
Recommended reading: Meme Coin Hunter, How to Use the On-Chain Super Tool GMGN.AI to Seize Earning Opportunities in the Crypto Circle? | Tool Introduction - Daily Coin Research
Quickly Grasp the Direction of the Community from X
In the crypto market, Twitter is the most lively news dissemination station, and meme coins require rapid dissemination. The two are a perfect match. In political meme coins, the first thing to focus on is likely Trump's Twitter, as multiple political meme coins are related to Trump, and he has also changed his attitude towards cryptocurrencies this year, fully supporting the development of the crypto industry, in contrast to the suppression by the Democratic Party.
Twitter: https://x.com/realDonaldTrump
Another meme god, Tesla CEO Musk, supports Trump's return to the presidency in politics, and also has a pivotal position in the meme coin market, as the primary source of meme coins. Musk's Twitter bio also frequently becomes a meme coin frenzy.
Twitter: https://x.com/elonmusk
Political Meme Coins / Meme Coin Operation Guide
Meme coins require quick in and out, and timing is crucial. In addition to tokens like $Trump that have existed for some time, new tokens may appear due to new issues, and new assets are also the most speculative hotspots.
Buying Timing
From the political meme perspective, the buying timing is certainly before the event ferments or during the fermentation process. Taking $FIGHT as an example, the token really started to rise on the 4th day after the assassination incident. If you keep an eye on community news and event developments, you have a good chance of catching this opportunity.
Quick Profit-Taking Suggestions
In the meme market, it is common practice to sell the principal after the token has risen 100% and keep the profit, also known as "doubling out the principal". Although this may forgo greater profits, in the market, the greatest taboo is being greedy and confused, and doubling out the principal is one of the best strategies to protect the principal.
Selling Timing
Everyone knows the logic of selling when the crowd is in a frenzy, and meme coins are no exception. When the community is discussing it crazily, it may be the exit point. However, trading has no guaranteed profits, so you need to set stop-loss and take-profit. This part varies from person to person but is very important. The commonly seen 30% stop-loss and doubling out the principal are the best choices for many people.
However, the operation of political meme coins is more difficult than general meme coins. In addition to being easily affected by news and information, due to the small on-chain pool, the price fluctuations are also more violent. Please evaluate your own risk tolerance before investing.
Coin Research Reminder: Meme coins are high-risk assets, the content is for reference only and not investment advice.
Recent News: Performance of Meme Coins Related to the Pennsylvania Rally
On the 5th of this month, Trump returned to the original shooting and assassination site in Pennsylvania to hold an election rally. He once again stood on the shooting podium and attributed everything to the grace of God. Musk also personally appeared and highly praised Trump for being able to raise his arms high after the shooting, sarcastically saying that Biden even has trouble climbing stairs. Musk also emphasized that freedom of speech is the foundation of democratic politics, and the Democratic Party is depriving the people of their rights, calling on everyone to support Trump's return to the White House. The atmosphere on site was quite lively.
After the rally, the Trump meme coin representative $TRUMP also continued to rise, with a peak increase of 70%. It has slowed down somewhat at the current stage.
However, another highly related meme coin $FIGHT did not rise but fell. On October 6th, the single-day drop exceeded 30%, so the news may not be the biggest factor affecting the rise and fall of the tokens!
The Binding Relationship Between US Politics and Cryptocurrencies
Perhaps everyone is curious why Trump, who opposed the crypto industry during his tenure, has now become the spokesperson for the crypto political circle, and even Kamala Harris's advisory team is actively communicating with the top crypto industry, what's going on? 4 years have passed, the relationship between the crypto industry and politics has changed dramatically.
At the Bitcoin conference in June this year, Trump publicly stated that if elected the next President of the United States, he will treat Bitcoin as a strategic reserve asset of the United States, will not sell the Bitcoin currently held by the United States and the Bitcoin to be obtained in the future, and will promise to protect miners and strongly support the development of the crypto industry. Trump's move is not only to rally an industry that has been marginalized by the mainstream system, but also because the crypto industry has become closely related to US politics.
According to a report by the consumer advocacy organization Public Citizen, the amount of donations from crypto companies to the US election this year reached $119 million, with 48% of the campaign funds coming from crypto companies. In this way, the crypto industry and US politics have formed an inseparable network, and this situation will only become more widespread in the future.
Summary: Will Political Meme Coins Have a Chance to Break Out?
The meme coins that have broken out, such as $Doge and $SHIB, can exist for a long time because there are enough people who recognize and are willing to buy and hold them. Now it is the eve of the election, the political issue is still burning, and the US election that the whole world is paying attention to must have speculative value. So in the short term, the author believes that political meme coins have a good chance of reflecting market sentiment this year. Of course, the outcome of the election may lead to different trends. In the long run, political alternation is inevitable, but if they can arouse the widespread resonance of the community during their tenure, recognize their ideas or actions, and add a touch of "meme" characteristics, perhaps they can become one of the meme coin overlords!
