This week in meme coin news, the market highlights show a slight increase in meme market capitalization, with cat- and dog-related meme coins performing well. HEHE and Catcoin experienced the highest percentage increases, while ChompCoin and MONGY saw the biggest declines. Five out of the top 10 meme coins are up, with Memecoin and Floki Inu dropping the most. PolitFi meme cryptos, inspired by political figures, saw a mixed performance, with some Trump-related coins experiencing price drops over the past 24 hours and week.
Political Finance (PolitiFi) meme coins, not officially affiliated with any political figures, saw a 2% decrease in market capitalization over the past 24 hours. Coins like ConstitutionDAO and MAGA have the highest market caps, with significant differences between them. Former President Trump-related coins dominate the top 10 list, with most seeing their prices drop over the past day. Joe Boden saw the biggest decrease, while Super Trump had the highest increase among the green coins. Five coins recorded price increases over the past week.
A major shift in the US political arena impacted meme coin performance, as sitting President Joe Biden dropped out of the 2024 presidential race, endorsing Vice President Kamala Harris as the Democratic nominee. This led to a significant rise in KAMA Coin, which jumped 61% in one day. Despite Boden coin dropping the most, Kamala Horris saw a substantial increase over the past 24 hours, week, and month. Polymarket now predicts an 82% chance of Harris becoming the Democratic presidential nominee.
While Donald Trump campaigns for a second term, his involvement in various controversies has affected meme coin performance. Trump-related coins like MAGA Hat, Super Trump, and Doland Tremp saw price increases over the past day, with MAGA falling 4.3%. MAGA Again experienced the biggest decline among the Trump-related coins in the top 10 category. Despite fluctuations, meme coins continue to be influenced by political events and figures, creating opportunities for investors to capitalize on these trends.
