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Exploring the Rise of PolitiFi Memecoins in the Market

May 31, 2024

PolitiFi meme coins have garnered significant attention in the market, delivering substantial profits to their investors. The current market cap of PolitiFi memecoins has reached $1.78 billion, marking a notable increase of 15.5% within the past 24 hours, based on data from CoinGecko.

Belonging to the memecoin category, PolitiFi coins are tokens named after political figures. It's crucial to understand that despite their namesakes, these tokens hold no official connections to the political personalities they are inspired by.

Leading the pack in the PolitiFi market is MAGA (TRUMP), launched on August 11th, 2023, with a remarkable market cap of $737,716,521. The price of MAGA crypto (TRUMP) currently sits at $15.45, exhibiting a substantial daily gain of 19.6% and impressive monthly and weekly returns of 269.4% and 91%, respectively.

Another notable player is ConstitutionDao (PEOPLE), originally a web3 project that has since disbanded. This initiative aimed to procure a copy of the U.S. Constitution through a decentralized autonomous organization formed by web3 enthusiasts. Despite raising over $40 million in ETH, the project was outbid by billionaire hedge fund manager Ken Griffin. ConstitutionDao (PEOPLE) now trades at $0.08291, boasting gains of 280% in the last month and 74% in the past 14 days, securing the second spot in market capitalization.

Following closely is Jeo Boden (BODEN), a meme coin inspired by President Joe Biden. Currently valued at $0.2827, Jeo Boden (BODEN) experienced a slight intraday decline of 6.6%. Its all-time high price of $1.04 was recorded on Apr 08, 2024, while the present price marks a 72.33% decrease from that peak. In contrast, the lowest price recorded for Jeo Boden (BODEN) was $0.02497 on Mar 09, 2024, indicating a substantial increase of 1,052.50% from that low point.

Lastly, the MAGA Hat (MAGA) coin, symbolizing “Make America Great Again,” exemplifies the fervor akin to contentious discussions between liberals and conservatives. Managed by the Chief Technology Officer of MAGA and its supporters, MAGA Hat (MAGA) is a key member of the PolitiFi Meta. Trading at $0.0003836 with a market cap of $156,730,396, MAGA Hat (MAGA) has witnessed notable growth of nearly 316.1% in the last 7 days, as per Coingecko data.

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