Political Meme Coins Market Cap Nosedives 90% Since Early June
CryptoNewsTerminal Staff13 Sep, 2024
Political Meme Coins Market Cap Nosedives 90% Since Early June
Political meme coins have been experiencing a sharp decline in the lead-up to the upcoming November U.S. presidential election, according to a report by Blockworks. The combined market capitalization of leading political meme tokens such as TRUMP, MAGA, TREMP, BODEN, and KAMA has dropped by about 90% since early June, when they had a combined market cap of $1.25 billion, to their current $170 million valuation. "Political meme tokens didn't exist last year, and it turns out this election season was about the peak of their powers," the outlet explained.
