Meme coins associated with Trump have plummeted following his victory. Here’s a list

Joke cryptocurrencies tied to American politics have plummeted in value by tens of percent.

Memecoins associated with the theme of U.S. politics (in the PolitiFi, Policy+Finance category) experienced significant declines following the U.S. elections. Both tokens related to Kamala Harris and those created in honor of Donald Trump saw their prices drop considerably.

In the presidential elections held on November 5, the pro-cryptocurrency Republican candidate Trump emerged victorious. Following the news of his election win, Bitcoin hit a new all-time high, soaring past $75,000.

Other leading altcoins also saw an overall increase in price. In contrast, many PolitiFi tokens that had been launched in anticipation of the elections saw their values decrease.

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According to CoinGecko's market cap ranking of the top 10 "political" cryptocurrencies, ConstitutionDAO (PEOPLE) is in first place with a market value of $327 million. This token experienced a minor decline of just 0.1% in the past 24 hours, whereas others saw much larger drops.



Top 5 PolitiFi tokens. Source: CoinGecko

The MAGA cryptocurrency (TRUMP) fell by 22% in a day, while Maga Hat (MAGA) saw a steeper decline of 34%. The Super Trump (STRUMP) token dropped by 44.6%, and TRUMP 47 (47) crashed by 67.5%. The Kamala Horris (KAMA) coin experienced a staggering 92% drop.

The fact that such tokens are not traded on major traditional exchanges and are mainly accessible on decentralized trading blockchain platforms or secondary tier sites did not prevent their trading volumes from spiking into the millions of dollars, often in response to political statements or significant events like Trump’s victory.

In the past 24 hours, trading volume for these cryptocurrencies hit $914 million. The overall capitalization of PolitiFi tokens was about $700 million at the beginning of November, but by November 6, it had fallen by 19% to $567 million.

Meanwhile, Dogecoin (DOGE), the world's first memecoin, showed the most substantial growth among the top 100 cryptocurrencies by market cap the day before the U.S. elections. On November 5, it saw a daily increase of 11%. After the elections, the token continued to climb, gaining an additional 6% by 6 PM on November 6.

Though it has no direct political affiliation, Dogecoin enjoys popularity due to Elon Musk, the head of SpaceX and Tesla, who is a known supporter of Donald Trump. Trump's election win is viewed by Dogecoin users as a positive sign for the token.

In August, when Trump announced his intention to appoint Musk as an advisor in his administration if he won, Musk humorously posted on X that he was ready to serve in the "Department of Government Efficiency" (D.O.G.E.).

According to recent research by Binance Research, new meme cryptocurrencies are cropping up faster than ever. Analysts estimate that over 75% of memecoins were created in the last year. However, the "death rate" for these tokens is also quite high—trading volumes for 97% of memecoins have nearly approached zero, rendering these cryptocurrencies effectively inactive.