Cryptocurrency analysts are warning of continued volatility in the political-themed token PolitiFi, especially as the upcoming US presidential debate on the 27th approaches.
According to analysts at Bitfinex, PolitiFi tokens are now considered speculative assets tied to election outcomes, leading to potential significant fluctuations in value.
The debate will include political proposals from Biden and Trump, including discussions on legislative processes affecting cryptocurrencies. Key topics such as capital gains taxes and tax policies on digital assets could influence the market, potentially resulting in significant movements in PolitiFi tokens depending on the debate’s outcomes.
Recently launched tokens such as Super Trump (STRUMP), MAGA (TRUMP), Doland Tremp (TREMP), and Jeo Boden (BODEN) have attracted attention, with their combined market capitalization exceeding $1 billion. However, these tokens have experienced double-digit losses over the past week, fueled by rumors of an official DJT token on the Solana network.
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For example, TREMP has shown a 48% loss on weekly charts, while BODEN has only suffered a 28% loss for the same period. Other Trump-themed meme coins are also in the red, with STRUMP and MAGA experiencing drops of 25% and 31% respectively in the last 7 days.
