Before the elections, some of the biggest PolitiFi tokens based on U.S. President-elect Donald Trump, such as MAGA, STRUMP and TRUMP, defied the broader crypto slump and surged amid interest in the business mogul's campaign.
After the U.S. presidential elections, several Trump-themed memecoins, such as MAGA, STRUMP, and TRUMP, gained popularity and surged in value. However, as the elections concluded, these coins experienced a decline.
CoinGecko's data for the PolitiFi memecoin pool shows that most Top 10 coins faced losses, except for a few that survived the decline. Among them, BABYTRUMP stood out, rising by 16.4% in the last seven days.
The downturn in politics-based memecoins highlights the risks of combining politics and cryptocurrencies, especially given the pending cabinet picks and their potential impact on various industries.
Despite the setback, the tokens may still recover before Inauguration Day, especially with the anticipation of the incoming altcoin season, which could bring renewed interest in alternative crypto assets.
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