Mocking American Politics, Spreading MEME Culture: A New Crypto Trend Gets Listed on Mainstream Websites
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Mocking American Politics, Spreading MEME Culture: A New Crypto Trend Gets Listed on Mainstream Websites
In this rally, meme coins have performed exceptionally well, triggering stronger FOMO sentiment.
Navigating Web3 tides with focused insightsAuthor: DeMan
2024 is a U.S. election year. Unlike previous presidential elections, this year’s race is filled with intense hostility, as both sides adopt a “do-or-die” stance. This irreconcilable atmosphere has captivated onlookers across America and around the world. Within the crypto community—known for embracing satire and humor—the U.S. election theme has seamlessly merged with meme culture.
On March 5, CoinGecko launched a new category called PolitiFi tokens—a meme coin segment tied to political figures. Below is a brief introduction to this phenomenon.
PolitiFi Tokens in Web3 Have the Deepest Ties with Trump
Data from the website shows that the total market cap of the PolitiFi token category is currently around $438 million, with a 24-hour trading volume of $19.81 million. While this is negligible compared to the overall crypto market, it stands out significantly within the context of the 2024 U.S. election. Although the number of listed assets in this category remains small, similar spin-off projects are emerging almost daily, suggesting that this sector will grow richer over time.
Why have PolitiFi tokens quietly evolved into a major asset class within the Web3 ecosystem? Much of the credit goes to one former U.S. president—Donald Trump. In 2023, a meme token named TRUMP surged over 1,000x, shocking the crypto community. With no use case, technology, or application, TRUMP was driven purely by public sentiment—an epitome of meme culture. Following TRUMP's success, a wave of similar tokens emerged, including MAGA, TRUMP2024, and MAGA2025.
Notably, Trump—historically the most internet-savvy and media-driven president—has developed a subtle but growing connection with the crypto world since leaving office. This includes launching NFTs, fundraising online, and his strong association with X (formerly Twitter), now owned by Elon Musk, who actively promotes meme coins. It’s foreseeable that if Trump wins the presidency again in 2024, related meme coins could see even more dramatic performances.
Meme Coins Shine in This Rally, Fueling Stronger FOMO Sentiment
Since October last year, the crypto market has shaken off nearly two years of stagnation and entered a bull run. Market data shows Bitcoin rose from $27,000 on October 15 to over $68,000 by March 5. In RMB terms, Bitcoin surpassed its previous all-time high on February 29. The main drivers behind this rally include the approval of Bitcoin spot ETFs, the upcoming Bitcoin halving, and the end of the U.S. interest rate hike cycle. Yet amid this broader upswing, meme coins have outperformed most mainstream assets.
According to market data, Bonk—the leading meme asset on Solana—rose from around $0.0000001900 in October last year to approximately $0.0000473253 recently, achieving nearly a 250x gain in just six months, showcasing astonishing wealth effects. In recent days, DOGE and SHIB—both of which gained thousandfold returns in the last bull market and are now considered mainstream assets—have also posted gains far exceeding industry averages. Data shows DOGE rose over 2.2x in two weeks, while SHIB surged more than 4x during the same period. Low entry cost and high returns mean meme coins consistently trigger mass FOMO during every rally—and this cycle is no exception.
Therefore, it’s easy to understand why leading market data platform CoinGecko decided to create a dedicated PolitiFi section: meme coins have evolved from early animal-themed concepts to tap into today’s hottest political narratives. More observant users may also notice that memes are now deeply integrating with AI and DePIN trends. Projects like AINN—promoting themselves as “decentralized AI applications with meme-based community governance”—have become curiosities in the space. While their long-term viability remains uncertain, developers have already pioneered this novel narrative.
This Market Cycle Defies Traditional Narratives—May PolitiFi Bring More Fun to Users
“This year’s market is strange—it started much earlier than usual.” That’s likely a shared sentiment among those who missed the rally. Indeed, compared to past bull cycles, this surge has been particularly puzzling. The only clear catalyst was the approval of Bitcoin spot ETFs, which unleashed a flood of traditional capital and sent markets into a frenzy. Top-tier research firm Pantera Capital even stated in a report: “The biggest black swan of this cycle is that there is no black swan.”
Under these circumstances, we do not aim to predict market movements. However, the emergence of new narratives driven by this bull run deserves attention—and PolitiFi is a prime example. As the final stage of the U.S. election draws closer and American enthusiasm for crypto continues to rise, we look forward to election-related meme coins bringing more surprises and joy in the future.
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