The two political parties in the United States are furious. CoinGecko adds PolitiFi token section

Author: DeMan

2024 is an election year in the United States. Different from previous presidential elections, this year’s election is full of a strong smell of gunpowder. , I live" posture, this incompatible state also makes melon-eating people in the United States and around the world feel interesting. In the crypto asset circle, which is good at exploring humorous themes, the theme of the US election and Meme culture are cleverly integrated.

On March 5, CoinGecko added the PolitiFi token section, which is a new Meme coin category related to politicians. This phenomenon is briefly introduced below.

The PolitiFi token in Web3 has the deepest connection with Trump

The website page data shows that the current total market value of the PolitiFi token sector is about 438 million U.S. dollars, 24 The hourly trading volume is US$19.81 million, which is a drop in the bucket in the entire market, but in the context of the 2024 election, it becomes particularly special. Although the number of assets included in this section is very small, similar imitation disks are released almost every day in the market, so the content of this section will be richer in the future.

So why did PolitiFi tokens unknowingly become a major asset class in the Web3 world? Credit goes to a former US president — Trump. In 2023, a Meme token called TRUMP increased more than a thousand times, shocking the majority of users. There is no scene, no technology, and no application. Behind TRUMP is only the emotion of the American people, full of Meme style. Since TRUMP, a series of imitation disks with similar slogans and names have been launched, such as MAGA, TRUMP2024, MAGA2025 and so on.

It is worth noting that as the president with the most Internet celebrity temperament and traffic effect in history, Trump has some subtle connections with Crypto after leaving office, including issuing NFT, launching online fundraising, and super Strong binding (X has been acquired by Musk who ordered MEME coins). It is foreseeable that if Trump is finally elected as the President of the United States this year, the performance of the corresponding Meme currency will also be worth looking forward to.

In this round of rising prices, the outstanding performance of Meme coins has triggered stronger FOMO sentiment

Since October last year, the encryption circle has begun to sweep away the downturn of the past two years and opened up An uptrend. Market data shows that the price of Bitcoin has risen from US$27,000 on October 15 to over US$68,000 on March 5. If priced in RMB, the price of Bitcoin has exceeded the all-time high on February 29. To put it simply, the passage of the Bitcoin spot ETF, the start of Bitcoin halving mode, and the end of the U.S. interest rate hike cycle are the biggest drivers of this round of rising prices. However, during this process, the increase in Meme currency still led the majority of mainstream assets.

Market data shows that Bonk, the number one Meme asset on the Solana chain, has risen from around US$0.0000001900 in October last year to around US$0.0000473253 recently, an increase of nearly 250 times in half a year, demonstrating a breathtaking wealth effect. Just in the past few days, DOGE and SHIB, which gained thousands of times in the last bull market and have now become mainstream assets, have also achieved gains that exceed the industry average. Market data shows that DOGE has increased by more than 2.2 times in two weeks, and SHIB has even increased by more than 4 times in two weeks. With low cost and high growth rate, Meme coins can trigger public FOMO emotions in every rising market, and this market is no exception.

So it is not difficult for us to understand why the leading market data website CoinGecko lists PolitiFi as a separate section for display: Meme currency has extended from the earliest animal concept to the hottest political field nowadays. More attentive users can also find that Meme is now even deeply integrated with the concept of AI + DePIN. At present, AINN and other assets with the gimmick of "distributed AI application + MEME community governance" have become a spectacle. Although the market outlook is difficult to predict, after all, it has already There are project developers who have opened up this new narrative.

This market has broken the conventional narrative, and we look forward to PolitiFi bringing more joy to users

“This year’s market is very strange, it started much earlier than in previous years.” This may be the resonance of many skywalkers. Yes, compared with previous bull market start-up cycles, this round of surge is really incomprehensible. The only trace is that after the adoption of the Bitcoin spot ETF, a massive influx of traditional funds drove the market into madness. Pantera Capital, a leading industry research institution, even bluntly stated in the report: The biggest black swan in this round of market is that there are no black swans.

Under this situation, we have no intention of predicting the market, but the new narrative derived from the sharp rise deserves our attention, and PolitiFi is the best example. As the final battle of the U.S. election approaches, U.S. users’ enthusiasm for Crypto continues to increase. We expect that Meme coins related to the election can bring more surprises and joy in the future.