The secret to the success of PolitiFi tokens: 667% growth in 2024

The secret to the success of PolitiFi tokens: 667% growth in 2024

This year, the politically-themed tokens known as "PolitiFi" have seen tremendous success, with a 667% increase in market capitalization. These memecoins, which include MAGA (TRUMP) and ConstitutionDAO (PEOPLE), have outperformed other categories of memecoins.

According to CoinGecko, the market capitalization of the PolitiFi sector reached $592.4 million as of August 27, a sevenfold increase since the beginning of the year. The most successful tokens such as MAGA (TRUMP), MAGA HAT (MAGA) and Super Trump (STRUMP) have a direct link to Donald Trump. The most valuable, however, is ConstitutionDAO (PEOPLE) with a market capitalization of $334.6 million.

ConstitutionDAO was founded in November 2021 to buy the first edition of the U.S. Constitution, but after losing an auction it disbanded, leaving the token on the market. In contrast, MAGA (TRUMP), which draws inspiration from Trump's "Make America Great Again" slogan, became the second largest with a market capitalization of $149.7 million, though it has no official connection to Trump.

CoinGecko analyst, Shaun Paul Lee, states that the prices of these tokens change significantly according to political events. For example, the value of MAGA rose by nearly 80% after Trump's victory in the Iowa Republican primary and in response to other key moments in his political career.

Thus, 2024 is proving to be a watershed year for politically-themed memecoins, which continue to attract investor attention.