Trump Tokens Dump Ahead of US Election In Sell The News Event for PolitiFi
PolitiFi meme coins have been one of the largest breakout narratives of 2024, with popular Trump tokens like MAGA hat, MAGA, and TREMP exploding to multi-million dollar market caps over the past 6-months.
However, as is ever the case with fleeting crypto narratives, it seems the rollercoaster could be over. Trump tokens appear to be leading a sell-off in the PolitiFi meme coin sector ahead of the US Election result.
This is a classic sell-the-news event, and many retail traders anticipate a drop-off in interest levels for political content as the election cycle draws to a close.
PolitiFi tokens will soon go to zero once the election is over
Liquidity will cycle into animals
Don’t be the last one to sell…leave now before it’s too late
— Dr. Patrick Anghel 🦷 (@pat_the_dentist) November 4, 2024
Indeed, most if not all of these PolitiFi meme coins are essentially empty offerings with no real utility or use case, and are unlikely to sustain their values in the long-term.
Below are the R minus D early vote deltas in swing states before tomorrow.
Republican turnout on election day is usually much higher than Democrat, so any state currently leaning R in early voting is very likely to side with Trump.
Pennsylvania, while still leaning D, has a… pic.twitter.com/1RziVhte02
— Elon Musk (@elonmusk) November 5, 2024
However, some also question whether the dip in Trump token values could be linked to increasingly close polling projections, with Trump’s massive lead on Polymarket slimming versus mainstream polling.
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How Are The Top Trump Tokens Looking Ahead of US Election Results?
Overall, looking at the total PolitiFi meme coin sector, the overall market cap is currently standing at $676,432,293 with a growth of +2.7% over the past 24-hour period.
(Source)
Yet, a look at the top PolitiFi meme coins reveals a clear drop in value for most major Trump tokens, with MAGA falling -37.3% in the past 7-days, TRUMP declining -22% in the same period, and TREMP also bleeding out -25.7%.
However, Democrat-themed tokens remain more resilient, with Kamala Horris token trading at a +44% gain in the past week.
A closer look at the MAGA chart reveals despite a local drop to a current price at $0.000182, which has seen MAGA price bleed-out -7.62% over the past 24-hours, price action remains in a bullish trading channel.
In a huge silver lining, price action has pushed back above 20DMA support this morning, teasing the idea of a bounce if Trump wins the US election.
With the RSI standing at 52, there is plenty of upside capacity for a push to the upside in the chart, especially as the Bollinger bands begin to tighten.
However, while this could offer a late-stage buying opportunity, it remains advisable to trade with caution into the volatility of the US election.
One safer bet play going viral with smart money investors this week offers long-term staying power stemming from an on-trend utility that few PolitiFi meme coins can boast.
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Vote-2-Earn Presale Goes Viral as PolitiFi Narrative In Spotlight From US Election
Not sure what to do on election day?
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— FreeDum Fighters (@Freedum_Fighter) November 5, 2024
A new PolitiFi meme coin is making headlines alongside the hype of the US election, as investors race to join what many in the space are labeling the ‘hottest prediction market project of 2024’.
Aiming for Polymarket’s frenzied growth, which has exploded to become a massive platform for crypto betting in recent months, Freedum Fighters is taking things political, with a massive earning opportunity via the $DUM presale.
Built around a custom vote-2-earn staking game, which currently sees early-stage presale investors staking for their preferred candidate – Kamacop or Magatron – for a chance to win big in an extremely high APY airdrop.
This sets the stage for post-election growth via future predictions market staking games aimed at maintaining relevance in a fleeting PolitiFi sector.
After all, the drive to bet on upcoming elections isn’t going anywhere anytime soon, which suggests Freedum Fighters could become a big player in the PolitiFi narrative.
So don’t miss out; join the project’s community on X or Telegram.
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