30s Summary

Politically-themed meme coins, or PolitFi tokens, are becoming popular as the US Presidential election nears, with coins like Jeo Boden and Maga making significant strides. Crypto Rand warns the popularity of such coins may decrease post-election; however, if these tokens are built correctly, they may survive the slump. Experts like Kyle Kemper believe these tokens could be used for fundraising, political movements, and have a significant role in the future of politics and finance. However, Crypto Rand warns many such tokens will fail, and differentiation between tokens with potential and ones created for profit is critical.

Full Article

Hey, have you guys noticed those election-themed meme coins popping up all over the place? As we get closer to the big US Presidential election in November, these politically-oriented meme coins — called PolitFi tokens — have become super popular. Top players in the field are coins named after political figures, like Jeo Boden (BODEN) and Maga (TRUMP), are outdoing the rest.

A lot of folks reckon these coins will peak in popularity in the coming months and then disappear after the election. Crypto Rand, a well-known crypto analyst, even warned us about how quick these things can vanish after they lose their hype.

But some argue that correctly built tokens could ride out the drop in interest that’s expected after the election and keep thriving. Kyle Kemper, who worked on a campaign for RFK Jr and created Make America Health Again (MAHA), thinks PolitFi meme coins could stick around if they find new ways to be useful and add more value.

However, the cold hard truth is that most meme coins burn out before they get the chance to evolve. Crypto Rand tells us meme coins are built on social media hype and numb feelings, and not much else. The rapid growth usually gives way to a just as rapid decline. They usually only stick around for three months.

Our man Kemper thinks PolitFi meme coins are “just getting started”, suggesting they could be used for fundraising or fostering political movements, giving them a powerful role in the future of politics and finance. This view is backed up by Weiss Ratings research editor Jurica Dujmović, who believes some PolitFi meme coins could outlast the US elections if they offer clear utility.

Nicholas Passino, co-founder of the MAGA MEME PAC, who helped create the Trump-themed MAGA coin, argued PolitFi tokens represent a much broader movement than just one single election.

As a word of caution, Crypto Rand warned that the vast majority of PolitFi meme coins will tank. It’s a case of distinguishing the real ones from “cabal coins” — projects created just to make a quick buck.

Still, one constant in all of this is former US President Donald Trump. His ability to grab media attention and the strong meme-loving community that backs him up makes Trump-based meme coins a dominant player in the market, according to Kemper.

Source: Cointelegraph