Amid the news of Donald Trump’s victory in the US presidential election, the cryptocurrency market has experienced a rapid rise: the price of bitcoin (BTC) reached a new historical high of $76 thousand. At the same time, political memecoins (the so-called PolitiFi) also jumped significantly in price. Within 24 hours, the trading volume increased significantly and reached $919 million. At the same time, the market capitalization fell by 16.2% and now stands at $541 million.
Trump-related tokens showed the largest growth, while coins associated with Kamala Harris saw a significant price drop.
The MAGA (TRUMP) token stood out, with a trading volume of more than $61 million (+426.02%) and a price increase of 55% before dropping to $1.85.
At the same time, Kamala Harris’s token Kamala Horris (KAMA) lost 92% of its value, dropping to $0.0008207.
On election day in the United States, there were 26,835 new tokens created many of which have political themes. Despite the volatility, representatives of the crypto industry predict that memecoins will remain the main force in the crypto market even in 2025.