Original title: “The U.S. presidential election is approaching, what are the targets of the hype?” 》
Original source: Woo
Background: The U.S. presidential election is about to take place on November 5
With less than a week left until the U.S. presidential election on November 5, the crypto user community has a strong stake in this election. According to Triple A data: the proportion of people holding cryptocurrency in the United States in 2024 will be 15.5%, representing approximately 51 million Americans. This number represents more than the total population of African Americans (41.1 million). Lost only to Latino Americans (approximately 57 million)
This is why cryptocurrency has become the focus of this U.S. presidential election, with Trump constantly introducing crypto-friendly policies.
Meme coins are a manifestation of the attention economy, so they have always been closely tied to popular events. The US presidential election is an excellent topic for speculation. So which coins have speculation opportunities and are worthy of attention?
Let WOO X Research show you!
High market capitalization currencies: DOGE, People
$DOGE
The reason why DOGE, the first meme currency in history, has a political color is inseparable from Musk’s support for Trump.
Musk tweeted on August 20 that he wanted to create a “Department of Government Efficiency,” referred to as DOGE. The naming concept was suggested to Musk by the DOGE community. Trump also responded that if elected, he would establish this department to conduct a comprehensive financial audit of the government and propose reducing waste. Therefore, the currency price performance of DOGE has also begun to be linked to the presidential election.
https://x.com/elonmusk/status/1825723913051000851
· Current market value: 25.5B
· Increase or decrease in the past 14 days: +48%
· Rising momentum: Musk’s posts and Trump’s mentions during his campaign
$People
People is not a presidential candidate-focused token, but a token issued by ConstitutionDAO.
ConstitutionDAO is a decentralized organization founded in 2021 to raise money and bid for a rare copy of the U.S. Constitution at Sotheby’s auction. At that time, the amount raised was as high as 6,000 ETH, equivalent to approximately $40 million.
At the same time, PEOPLE governance tokens are issued through the blockchain platform Juicebox, and investors can exchange 1 ETH for 1 million $PEOPLE. Token holders will not directly own the constitution, but have the power to govern the community. After a successful bid for the constitution, the DAO community will vote on what to do with the copy.
However, the bidding was not successful in the end. Therefore, ConstitutionDAO announced the end of the project. After handling the refund process, community members also decided to dissolve the community. However, there are still community members who choose to retain the PEOPLE tokens exchanged for Ethereum and use DAO Carrying out other projects in the form of $People also makes $People a meme coin.
Memes, full circulation, low market capitalization, and the natural political attributes of the Constitution have become the driving forces behind the rise of People.
· Current market value: 386M
· Increase or decrease in the past 14 days: -7.6%
· Upward momentum: Highly correlated with the timing of the presidential election
Small market capitalization currencies: MAGA, KAMA
$MAGA
The concept is the abbreviation of Trump’s slogan Make America Great Again, and the currency price trend is closely related to Trump’s polls. There are quite a few Trump-concept coins on the market, including Trump, Tremp, Fight, babytrump, etc. The currency with better currency price trends in the past two weeks is MAGA. As Trump’s victory rate increases, the prices of other currencies have increased. Not as good as expected. If you think Trump has a high chance of being elected, MAGA is a more stable choice.
· Current market value: 101M
· Increase or decrease in the past 14 days: +83%
· Upward Momentum: Rising as Trump’s chances of winning the election improve.
$ LIKE
The full name of the token is Kamala Horris (change a to o), which is conceptually a parody of the cartoon image of Democratic candidate Kamala Harris. It is worth mentioning that among political meme coins, there are a large number of Trump concept coins, while there are very few He Jinli concept coins, which also reflects the political preferences of crypto users.
· Current market value: 7M
· Increase or decrease in the past 14 days: +13%
· Upward Momentum: Rising as Harris’ chances of winning the election increase.
Political Meme Coin Hype Important Events & Times
Electoral election and voting (11/5 & 12/16)
After the electors are selected by referendum on November 5, the electors in each state will gather on “the first Monday after the second Wednesday” in December (December 16 in 2024) to vote for the electors based on the results of the popular vote in each state. A certain group of presidential and vice presidential candidates. Therefore, some people say that this day is the real “US Presidential Election Day”
The results of the US presidential election are released (2025/1/6)
The joint session of the U.S. Congress will formally announce the elected candidate in early January of the following year. At that time, members of the House and Senate will meet together to verify and calculate the results of the Electoral College vote and officially announce the candidates for the new president and vice president. This process symbolizes the final confirmation of the electoral process and is also the final step for the new government to take office.
The President is sworn in (2025/1/20)
The new president will be sworn in on January 20, 2025, officially beginning his term.
Conclusion: The end of the election is the beginning of a new round in the crypto market?
It is foreseeable that with the end of the presidential election, the above-mentioned meme coins will not have much momentum for speculation, and the market sentiment will return to the new president’s attitude towards cryptocurrency. Trump is obviously more courteous to crypto voters than He Jinli, and recently announced that he will issue his own stable currency. This is one of the reasons why the two sides are close in traditional polls, but Trump’s victory rate is one-sided in Polymarket.
The current trend of Bitcoin is strong. If Trump is finally elected, it can be seen as a positive result. In the short term, it may face the pressure of currency price correction. However, if crypto-friendly policies are implemented over time, it will bring more stable investment to the overall market. Environmental and long-term benefits.
This article is from a submission and does not represent the views of BlockBeats.
