Cryptocurrency analysts warn of continued volatility in political-themed tokens (PolitiFi), especially in the lead-up to the U.S. presidential debate on October 27th.
Analysts at Bitfinex now view PolitiFi tokens as speculative assets related to the election outcome, potentially leading to significant fluctuations in value.
The debate will feature policy proposals from Biden and Trump, including discussions on legislative processes that could impact cryptocurrencies. Key issues such as capital gains tax and digital asset tax policies may affect the market, and the debate results could result in major changes for PolitiFi tokens.
Recently launched tokens like Super Trump (STRUMP), MAGA (TRUMP), Doland Tremp (TREMP), and Jeo Boden (BODEN) have attracted attention, with a total market value exceeding 100 million US dollars. However, these tokens have seen double-digit losses in the past week due to rumors circulating online about the official DJT token from Solana.
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For example, TREMP showed a 48% decline on the weekly chart, while BODEN only dropped by 28% during the same period. Other Trump-themed meme tokens also experienced losses, with STRUMP and MAGA falling by 31% and 7% respectively in the past 25 days.
