Political memecoins expected to see volatility as Trump-Biden debate nears, analysts say
Quick Take
- Political meme tokens could make volatile moves amid next week’s Trump vs Biden presidential debate, analysts say.
- The televised U.S. presidential debate between Joe Biden and Donald Trump will take place on 27 June .
The televised U.S. presidential debate between incumbent Joe Biden and Donald Trump will air live on June 27.
The face-off will compare both candidates’ proposed policies. Amid this scenario, analysts at crypto exchange Bitfinex predict that political memecoins or “Politifi” tokens inspired by Trump and Biden—such as the Ethereum-based Super Trump and Maga, and the Solana-based, misspelled, Jeo Boden 
BODEN
-23.52%
and Doland Tremp 
TREMP
-16.22%
—could experience volatile price movements during and after the debate.
"There could be significant movement for 'Politifi' tokens during and after the debate depending on their performance as these tokens have turned into speculative assets themselves in terms of the election results," Bitfinex analysts told The Block. The analysts added that it is important to note that Trump has positioned himself as the "Crypto President".
While the Trump vs. Biden debate may briefly discuss regulatory frameworks affecting cryptocurrencies, the analysts added that detailed policy announcements and legislative processes typically provide more substantial clarity than debate soundbites.
The analysts emphasized that market interest and potential impacts could arise from discussions concerning general capital gains taxes and specific crypto taxation policies.
"What could be interesting and have market impact is discussion around capital gains taxes in general and crypto taxation policies in particular," they added.
RELATED INDICES
PolitiFi tokens market cap
The market cap of political-themed tokens stands at $998 million currently, reflecting a -10.6% change over the last 24 hours, according to Coingecko's PolitiFi token category.
Several prominent memecoins inspired by the presidential candidates have experienced significant declines in value in the past 24 hours.
The Ethereum-based ConstitutionDAO (ticker: 
PEOPLE
-2.51%
) has dropped by 11.6% today. Similarly, the Ethereum-based 
MAGA
+4.57%
(ticker: Trump) has seen a decline of 7.6%, while the Ethereum-based MAGA Hat (ticker: MAGA) slid by 18.5% over the past day.
On the Solana blockchain, Jeo Boden (ticker: BODEN) has recorded a substantial decline of 26.7%, and Doland Tremp (ticker: TREMP) has fallen by 16.8%. Meanwhile, the Ethereum-based Super Trump (ticker: STRUMP) has experienced a more modest decrease of 3.7%. These price movements highlight the volatility within the cryptocurrency market as of the latest trading session.
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