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Political-themed memes coins, or “PolitiFi” tokens, have significantly outperformed other namecoin categories in 2024, with a notable 667% increase in market capitalization. As of August 27, the PolitiFi sector, which includes tokens such as MAGA (TRUMP) and ConstitutionDAO (PEOPLE), has reached a market cap of $592.4 million. This represents a seven-fold rise from the beginning of the year.
In contrast, the broader namecoin sector, which features well-known tokens like Dogecoin and Shiba Inu, has seen a much smaller growth rate of approximately 73% during the same period. The substantial growth in PolitiFi tokens is primarily driven by those associated with Donald Trump.
Tokens such as MAGA (TRUMP), MAGA HAT (MAGA), Super Trump (STRUMP), and Doland Trump (TREMP) rank among the top five in this category. Notably, CoinstitutionDAO (PEOPLE) stands out with a market cap of $334.6 million.This surge is significant when compared to the broader namecoin category, which features tokens such as {Dogecoin} (DOGE) and Shiba Inu (SHIB). During the same period, these well-known memecoins saw a more modest increase of approximately 73%.
ConstitutionAL was initially established in November 2021 with the goal of purchasing a first-edition copy of the United States Constitution. Although it ultimately lost the auction to a private bidder and disbanded, the token has remained active in trading. MAGA (TRUMP), which is named after Trump’s “Make America Great Again” slogan but has no official ties to him, is the second-largest PolitiFi token, holding a market cap of $149.7 million.
CoinGecko Research Shaun Paul Lee notes that the value of PolitiFi tokens is closely linked to significant political events. For example, MAGA (TRUMP) experienced substantial price movements in response to major political developments, such as Trump’s victories in the Iowa Republican presidential caucuses and various legal challenges.
In addition to the success of PolitiFi tokens, Donald Trump has recently launched a new non-fungible token (NFT) collection titled the “America First Collection.” This collection includes 360,000 NFTs, the largest set to date. The NFTs, minted on the Polygon blockchain, feature various depictions of Trump and offer perks such as dinners and memorabilia. The collection is managed by NFT INL LLC, which uses Trump’s likeness under a paid license, with proceeds not contributing to Trump’s presidential campaign.
