High volatility in some meme tokens amid the US election

Crypto analysts are warning of continued volatility in political-themed coins (PolitiFi), especially with the upcoming US presidential debate on June 27.

According to the analysts on Bitfinex, PolitiFi tokens are now viewed as speculative assets tied to election results, leading to potentially significant fluctuations in value.

The debate will feature policy proposals from Biden and Trump, including a discussion of the legislative processes affecting cryptocurrencies. Key topics such as capital gains taxes and digital asset taxation policies could have an impact on the market, potentially leading to significant movement in PolitiFi tokens depending on the outcome of the debate.

Recently launched tokens such as Super Trump (STRUMP), MAGA (TRUMP), Doland Tremp (TREMP) and Jeo Boden (BODEN) have attracted attention with their combined market cap exceeding $1 billion. Over the past week, however, these tokens have seen double-digit losses, fueled by the rumours for an official DJT token on the network of Solana .

TREMP, for example, shows a 48% loss on weekly charts, while BODEN's losses over the same time period are only 28%. Other Trump-themed meme coins are also in the red with STRUMP and MAGA down 25% and 31% respectively over the past 7 days.