PolitiFi Tokens Surpass Meme Coins with 782% Growth This Year

In 2024, the “political coins” category, known as PolitiFi, has significantly outpaced the growth of the entire meme coin segment, achieving a 782.4% increase in market capitalization compared to 90.2% for meme coins. This was highlighted by CoinGecko.

How did PolitiFi coins perform against meme coins? ?

Our study shows that the PolitiFI coins category rose by 782.4% from January 1 to August 25, 2024, outperforming the broader meme coins category, which rose by 90.2% in the same period.

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— CoinGecko (@coingecko) August 27, 2024

Despite this, the market share of PolitiFi tokens within the meme token segment was 1.5% of the total $45.6 billion as of August 25. At its peak on July 16, the figure reached 3.3%.

Of the total market supply of “political meme coins” amounting to $680.8 million, ConstitutionDAO (PEOPLE) accounts for $385.6 million. Since the beginning of the year, this value has increased by 494.3%, from $64.9 million.

The asset was initially launched in November 2021 to raise funds for purchasing an original copy of the U.S. Constitution through a DAO. The organization lost the auction and returned the invested funds to participants.

“Despite its dissolution, it managed to maintain leadership in the PolitiFi scene,” noted CoinGecko experts.

The second-largest coin in the category is MAGA (TRUMP) with a capitalization of $178.9 million, marking a 1350.9% increase since the beginning of the year.

In third place is another PolitiFi token also referencing former U.S. President Donald Trump. The total market value of MAGA Hat (MAGA) stands at $35.5 million. Since its launch in May, the figure has risen by 1292.1%.

“PolitiFi coins are a subset of the broader meme coin category, drawing inspiration from political figures and events. Most of these assets are satirical and are not officially affiliated with any politician,” emphasized CoinGecko analysts.

They noted that the price movements of leading PolitiFi tokens are closely linked to news from the U.S. electoral cycle. For instance, the price of MAGA surged by 79.1% in a day following Trump’s nomination as the Republican candidate at the party convention in January.

On May 30, the coin’s quotes jumped by 22.3% after the politician was found guilty on 34 counts related to a hush-money payment to porn star Stormy Daniels.

In June, the Jeo Boden (BODEN) token plummeted by 42.8% after current President Joe Biden stumbled at a press conference, heightening concerns about his health and age.

Back in July, the meme coin Kamala Horris (KAMA), dedicated to Vice President Kamala Harris, reached a new ATH following Biden’s announcement of his withdrawal from the presidential race and endorsement of his running mate.