Meme Coin Update: PolitFi Meme Coins Gain Popularity, While MAGA Values Decline

Receive your weekly, concise summary of meme coin updates.

This week, explore:

• Meme Coin Updates: Market Overview
• PolitFi Meme Cryptocurrencies Are Gaining Attention But Show Varied Results
• KAMA Coin Surges 61% in One Day Following Joe Biden’s Withdrawal from the US Presidential Race
• MAGA Coins Decline Over the Past Day and Week

__________

Meme Coin Updates: Market Overview

Meme coins appear to be performing well today, especially those associated with cats and dogs.

The market capitalization for meme coins has experienced a slight increase in the last 24 hours, rising by 0.4% to reach $56.5 billion.

The top performers today include HEHE, which has risen by 60% to $0.02383, followed closely by Catcoin (CAT) with a 57% increase.

Catwifhat (CWIF) saw a 41% rise, while the remaining coins in the green category are up 33% or less per coin.

Conversely, ChompCoin (CHOMP) experienced the largest decline today, dropping 21% to $0.2132.

MONGY follows with an 18% decrease, now priced at $0.02151.

SAD HAMSTER (HAMMY) fell by 15.4%, while the rest of the list is down 12% or less.

Focusing on the top 10 meme coins, we observe that five have increased in value, while the other five have decreased.

Source: cryptonews.com/coins/meme-coins/

Interestingly, Memecoin (MEME) recorded the most significant drop over the past day, declining by 2% to $0.01643.

Floki Inu (FLOKI) follows with a decrease of 1.7%, now trading at $0.0002.

The coins that have increased in value have shown considerably higher percentages.

Coq Inu (COQ) is the top performer of the day, rising by 13.7% to $0.000002385.

Dogwifhat (WIF) is next, with an 8.2% increase, trading at $2.75.

Other coins have also shown positive performance over the past day. More details are provided below.

PolitFi Meme Cryptocurrencies Are Gaining Attention But Show Varied Results

Political Finance (PolitiFi) refers to meme coins inspired by political figures, although they have no official ties to any of them.

In the last 24 hours, the market capitalization for this category has decreased by 2% to $972 million.

ConstitutionDAO (PEOPLE) holds the highest market cap at nearly $420 million.

Following this is MAGA (TRUMP) with $310.8 million, and MAGA Hat (MAGA) at $70.1 million, indicating a notable disparity among the top three positions.

Five additional coins in the top 10 list are associated with former US President Donald Trump.

Source: coingecko.com

In the past 24 hours, most of these coins have experienced price declines, led by Joe Boden (BODEN), which saw a 60.5% drop.

Conversely, Super Trump (STRUMP) had the highest increase among the three coins in the green, rising by 18.3%.

Over the past week, five coins have recorded price increases, with Tooker kurison (TOOKER) showing the most significant appreciation at 105%. This coin is linked to Tucker Carlson, a conservative political commentator in the US.

The largest decline is again attributed to BODEN, which will be discussed further below.

The popularity of these specific coins is not unexpected, given that the US is currently in the midst of presidential election campaigning.

KAMA Coin Surges 61% in One Day Following Joe Biden’s Withdrawal from the US Presidential Race

In today’s meme coin news, a significant shift in the US political landscape over the past 24 hours has also influenced the crypto market. As a result, one coin experienced a substantial rise in a single day.

President Joe Biden has withdrawn from the 2024 presidential race after facing mounting pressure to step down.

On July 21, he endorsed Vice President Kamala Harris to take his place as the Democratic nominee.

My fellow Democrats, I have decided not to accept the nomination and to focus all my energies on my duties as President for the remainder of my term. My very first decision as the party nominee in 2020 was to pick Kamala Harris as my Vice President. And it’s been the best… pic.twitter.com/x8DnvuImJV

— Joe Biden (@JoeBiden) July 21, 2024

A growing number of Democrats have also chosen to support Harris as the party’s presidential nominee.

These developments have influenced the performance of related meme coins.

As previously mentioned, the BODEN coin – one of the top 10 PolitiFi tokens – has seen the largest drop over the past day (60.5%) and the last week (74%), currently trading at $0.008901.

In contrast, Kamala Horris (KAMA) surged by 65.4% in the last 24 hours, now trading at $0.01742.

Source: coingecko.com

Additionally, it has increased by 329% over the past week and an impressive 1,582% over the past month.

The current price is 31.3% lower than its all-time high and 2,765% higher than its all-time low.

Notably, the coin is outperforming similar meme cryptocurrencies over the past week, which have risen by 20.8%, according to CoinGecko.

Furthermore, Polymarket currently places Harris as the leading candidate for the new Democratic presidential nominee with an 82% probability.

MAGA Coins Decline Over the Past Day, Week

Donald Trump is actively campaigning for a second term in the White House.

He has consistently been in the news for several years. Among the latest developments, he became the first former US president to be convicted of a felony, found guilty of 34 counts in a Manhattan court on May 30.

Additionally, there was an assassination attempt on his life on July 13 during a rally, from which he emerged with only a minor injury.

In the past day, among the top 10 PolitiFi coins by market cap, three Trump-related coins have increased: MAGA Hat (MAGA), Super Trump (STRUMP), and Doland Tremp (TREMP), with increases of 18%, 7.6%, and 5%, respectively.

MAGA (TRUMP) is one of the four Trump-related coins on this list that has experienced a price decline.

It fell by 4.3% over the past 24 hours to a price of $6.75. It is also down 18.4% over the week and 15% over the month.

Source: coingecko.com

The current price is 61% lower than its all-time high and 60,126% higher than its all-time low.

Meanwhile, MAGA Again (MAGAA) recorded the largest decline among the Trump-related coins in the top 10 category, dropping 38.3% to a price of $0.01483 over the past day.

The other two coins in the red are MAGA VP (MVP) and Fight to MAGA (FIGHT), which have decreased by 5.3% and 14.5%, respectively.

The post Meme Coin News: PolitFi Meme Coins Are Trending, But MAGA Price Drops appeared first on Cryptonews.