Crypto currency analysts warn of continued volatility in the political-themed token, PolitiFi, especially ahead of the upcoming US presidential debate on September 27th.
According to analysts at Bitfinex, PolitiFi tokens are now considered speculative assets linked to election outcomes, which could lead to significant fluctuations in value.
The debate will include political proposals from Biden and Trump, including discussions on legislative processes affecting cryptocurrencies. Key topics such as capital gains taxes and tax policies on digital assets could impact the market, potentially resulting in significant movements in PolitiFi tokens depending on the debate’s outcomes.
Recently launched tokens like Super Trump (STRUMP), MAGA (TRUMP), Doland Tremp (TREMP), and Jeo Boden (BODEN) have attracted attention, with their combined market capitalization exceeding $1 billion. However, these tokens have experienced double-digit losses in the past week, fueled by rumors of an official DJT token on the Solana network.
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For example, TREMP shows a 48% loss on weekly charts, while BODEN has only suffered a 28% loss for the same period. Other Trump-themed meme coins are also in the red, with STRUMP and MAGA experiencing respective declines of 25% and 31% in the past 7 days.
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