The U.S. presidential election is approaching—what are the potential炒作 (hype) targets?
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The U.S. presidential election is approaching—what are the potential炒作 (hype) targets?
The U.S. presidential election is set for November 5.
Navigating Web3 tides with focused insightsWith less than a week remaining until the U.S. presidential election on November 5, the crypto user community has emerged as a significant demographic in this election. According to Triple A data, 15.5% of Americans—approximately 51 million people—held cryptocurrency in 2024, surpassing the total African American population (41.1 million) and trailing only the Latino population (around 57 million).
This is why cryptocurrency has become a focal point in the current U.S. presidential race, with Donald Trump actively promoting crypto-friendly policies.
Meme coins thrive on attention economics and are inherently tied to trending events. The U.S. presidential election provides an ideal backdrop for speculation—so which tokens present potential opportunities?
Let WOO X Research break it down for you!
High-Market-Cap Coins: DOGE, PEOPLE
$DOGE
The first-ever meme coin, DOGE, gained political significance largely due to Elon Musk’s support for Trump.
On August 20, Musk tweeted about creating a "Department of Government Efficiency," abbreviated as D.O.G.E—a name suggested by the DOGE community. Trump responded positively, stating that if elected, he would establish this department to conduct comprehensive financial audits of the federal government and eliminate waste. Since then, DOGE's price performance has become increasingly linked to the presidential election.
https://x.com/elonmusk/status/1825723913051000851
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Current Market Cap: $25.5B
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14-Day Price Change: +48%
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Price Catalyst: Musk’s tweets, mentions during Trump campaign rallies
$PEOPLE
PEOPLE is not centered around any presidential candidate but is the token issued by ConstitutionDAO.
ConstitutionDAO was a decentralized autonomous organization formed in 2021 with the goal of raising funds to bid on a rare copy of the U.S. Constitution at a Sotheby’s auction. The initiative raised as much as 6,000 ETH—worth approximately $40 million at the time.
Through the blockchain platform Juicebox, the project issued PEOPLE governance tokens, allowing investors to exchange 1 ETH for one million $PEOPLE. Token holders did not directly own the Constitution but held voting rights over community decisions. After winning the bid, the DAO community would vote on how to manage the document.
Ultimately, the bid failed, leading ConstitutionDAO to announce the end of the project. Members processed refunds and disbanded the group. However, some participants retained their PEOPLE tokens obtained via ETH swaps and continued using the DAO structure for other initiatives, turning $PEOPLE into a meme coin.
The combination of meme appeal, fully diluted supply, low market cap, and inherent political symbolism tied to the U.S. Constitution has driven PEOPLE’s price momentum.
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Current Market Cap: $386M
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14-Day Price Change: -7.6%
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Price Catalyst: High correlation with key dates in the presidential election cycle
Low-Market-Cap Coins: MAGA, KAMA
$MAGA
The name references Trump’s slogan “Make America Great Again.” Its price movements closely follow Trump’s polling numbers. While there are numerous Trump-themed tokens in the market—including TRUMP, TREMP, FIGHT, BABYTRUMP—the best-performing over the past two weeks has been MAGA. Other tokens have underperformed despite rising odds of a Trump victory. For those betting on a Trump win, MAGA appears to be a more stable choice.
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Current Market Cap: $101M
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14-Day Price Change: +83%
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Price Catalyst: Increases as Trump’s likelihood of winning rises
$KAMA
The full name of the token is Kamala Horris (replacing 'a' with 'o'), a satirical take on Democratic candidate Kamala Harris. Notably, while there are many meme coins based on Trump, very few exist for Harris—highlighting the apparent political leanings within the crypto community.
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Current Market Cap: $7M
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14-Day Price Change: +13%
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Price Catalyst: Rises as Harris’s chances of winning increase
Key Events & Timelines for Political Meme Coin Speculation
Election Day & Electors Voting (11/5 & 12/16)
On November 5, citizens vote to select electors. Then, on the first Monday after the second Wednesday of December (December 16 in 2024), these electors meet in their respective states to cast official votes for president and vice president based on the popular vote results. Some argue that this date—rather than Election Day—is the true “U.S. Presidential Election Day.”
Official Certification of Results (2025/1/6)
In early January 2025, a joint session of Congress will formally convene to certify the electoral votes. Members of both the House and Senate will gather to count the Electoral College ballots and officially declare the winners of the presidency and vice presidency. This marks the final procedural step in confirming the election outcome and paves the way for the incoming administration.
Presidential Inauguration (2025/1/20)
The newly elected president will be sworn into office on January 20, 2025, officially beginning their term.
Conclusion: Will the End of the Election Mark a New Beginning for Crypto Markets?
As the election concludes, the speculative momentum behind these meme coins is likely to fade. Market sentiment will shift toward assessing the new president’s stance on cryptocurrency. Trump has clearly positioned himself as more favorable to crypto users compared to Harris, recently even announcing plans to launch his own stablecoin. This pro-crypto posture helps explain why, despite close traditional polls, prediction markets like Polymarket show Trump with significantly higher odds of winning.
Currently, Bitcoin is showing strong momentum. If Trump wins, the long-anticipated positive news may lead to short-term profit-taking and price corrections. However, over the longer term, the implementation of crypto-friendly policies could foster a more stable investment environment and drive sustained bullish momentum across the entire market.
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