- Memes centered around prominent politicians have surfaced as an additional avenue for degens to wager on developing stories.
The world of cryptocurrency is vast and includes anything from serious projects with grand objectives like banking the unbanked to humorous and occasionally satirical meme coins.
Although meme currencies have existed since the days of Dogecoin, they are becoming more and more well-known as the market develops. PolitiFi meme coins are one of the most recent innovations in the market; they provide a distinctive fusion of financial nihilism and political humor.
To put it in poetic terms, PolitiFi might be described as a sociological experiment that illustrates the state of current politics and the public’s perception of it. Alternatively, other individuals simply enjoy gambling, and PolitiFi coins provide an additional means of placing bets on how current events pan out.
How do PolitiFi coins work?
A subset of meme coins known as PolitiFi coins are inspired by political personalities, occasions, and viewpoints.
They are frequently humorous; two well-known PolitiFi meme coins are Kamala Horris (KAMA) and Doland Tremp (TREMP). Both are misspelled versions of the politicians running in the 2024 US election, which were made popular by the Spoderman meme, a Microsoft Paint figure that showed up in a number of web comics.
Politics caricatures and political slogan parodies are among the features that can be found on PolitiFi coins. The main concept is to combine political commentary with a speculative asset, allowing users to speculate on tokens depending on current political events.
PolitiFi coins, which are frequently associated with a certain political figure, also appear in reaction to news stories. For instance, within minutes of Donald Trump’s assassination attempt in 2024 during a rally, hundreds of meme coins describing the incident appeared.
PolitiFi currencies are frequently generated on Ethereum or Solana, where the bulk of meme currency volume typically resides, much like other meme tokens. Their worth is entirely hypothetical and is influenced by social media trends, current affairs, meme culture, and community interest.
For instance, the value of meme coins with Trump themes, like MAGA, fell after he was found guilty on 34 counts of felonies, but it increased after he spoke in favor of cryptocurrency at the LNC.
Despite their lighthearted beginnings, these coins occasionally achieve substantial market capitalizations thanks to the popularity of the memes that are connected to them.
Coin examples from PolitiFi
The cryptocurrency world is paying attention to a number of PolitiFi currencies. PolitiFi coins typically concentrate on American politicians since the country usually receives the most attention during election seasons. Here are a few of the more noteworthy instances:
MAGA (TRUMP): As the name implies, former US President Donald Trump served as an inspiration for TRUMP. This coin takes advantage of the divisive character of Trump’s political career, with news and events surrounding him frequently affecting its value.
MAGA Hat (MAGA): Compared to other politicians, Trump has the most PolitiFi currencies based on him. This is probably because he is a vocal user of social media and television, which encourages traders to bet that he will continuously attract attention and raise the price of related meme coins.
Doland Tremp (TREMP): Doland Tremp (TREMP) is one of the PolitiFi meme currencies that converge with the Spoderman comics meme coin trend. Spoderman PoltiFi coins combine the comic book style of Spoderman with well-known politicians. Spoderman is a classic MS Paint meme featuring an odd-looking Spiderman.
Jeo Boden (BODEN): A Spoderman humorous representation of Joe Biden, BODEN makes lighthearted political and meme-related jokes about the current American president.
Kamala Horris (KAMA): As Democrats gathered support for Biden’s withdrawal from the presidential contest, the Kamala Harris-themed KAMA token gained notoriety.
ConstitutionDAO (PEOPLE): Interestingly, ConstitutionDAO began as the governance token for a decentralized autonomous organization (DAO) that wanted to purchase a copy of the US Constitution at auction rather than as a meme coin. The project was abandoned when that attempt failed, but its decentralized token is still in existence and is seen by some as a PolitiFi currency due to its political branding.
What lies ahead for PolitiFi coins
Within the meme currency arena, PolitiFi has established itself as a developing story; some of its biggest coins have market capitalizations in the tens of millions, if not hundreds of millions of dollars.
For some degens, they function as little more than a prediction market-style alternative means of wagering on the course of political narratives. For instance, the Kamala Harris-themed KAMA meme coin increased by more than 120% after Joe Biden decided to withdraw from the US presidential contest, even before Biden endorsed her campaign.
Nevertheless, as they say, in politics, a week is a long time. Think about this if you’re considering experimenting with PolitiFi coins: meme coins in particular are quite volatile and have a tendency to burn out rapidly once the story goes on. Politics is full of uncertainty and surprising reversals, just like cryptocurrency itself.
The first significant event around which PolitiFi coins have been created is the 2024 U.S. presidential election; it remains to be seen if interest in them outlives the election itself.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
