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Unhappy with the candidates in this election? Check out the latest Meme coin revolution, mixing politics with crypto profits and some laughs
May 16, 2024 9:47 am | 3 minutes reading
As the 2024 US presidential election approaches, an unprecedented level of dissatisfaction appears evident among voters toward the two leading candidates. Current search data of 538 reveals that both former President Donald Trump and current President Joe Biden are struggling with unfavorable ratings – 53% for Trump and 55% for Biden. This general discontent reflects a unique scenario in American politics, where both major party candidates are simultaneously unpopular – which is a historically rare occurrence. The dynamics of this election therefore seem less about choosing the most popular candidate and more about dealing with the deep disapproval that each candidate accrues. But voters who are also crypto enthusiasts can now find solace in a new guilty pleasure: political meme coins.
The rise of political meme coins
In this atmosphere of widespread voter dissatisfaction, political meme coins emerged as a new form of relief, adding a touch of humor and levity to the electoral process. There are already meme coins about Tucker Carlson ($TOOKER) and Alex Jones ($JOWNES), among others. The $TREMP coin inspired by former president Donald Trump stands out among them. These digital tokens, although initially created for fun, have started to carve out a niche in the crypto community. The introduction of meme coins like $TREMP into political discourse is providing a light-hearted alternative to the normally serious discussions surrounding presidential campaigns and giving voters a unique opportunity to speculate on politics or at least laugh at their growing popularity and humorous commentary on current events. Many of these coins, like $TREMP, emulate real-world events and involve other politically inspired meme coins in the community. However, unlike real-world election conversations, the back-and-forth between crypto candidates and Polifi tokens is light-hearted and also meant to entertain.
Highlight for the $TREMP coin
The $TREMP coin was released on February 28 and saw a rapid increase in interest and market value, reaching $100 million in the first month. To put this into perspective, CoinGecko Data puts the total market value for “PolitiFi” coins – as these new coins are called – at around $690 million as of May 13 and growing, an increase of more than 20% in the previous 24 hours.
After the original creator of the $TREMP coin stepped back, the community took over, propelling $TREMP to a prominent position among political meme coins. The involvement of figures like Anatoly Yakovenko of Solana Labs has further legitimized its presence in the crypto world. Recently, the $TREMP team announced the recruitment of Dustin Stockton, a well-known conservative strategist who previously worked for Newt Gingrich’s presidential campaign in 2012 and under Steve Bannon at Breitbart before 2016, emphasizing his commitment to emulating the real world. political campaigns in a satirical but engaging manner. This not only increased their visibility, but also highlighted the potential of meme coins to influence political narratives in real time. It could also be a catalyst for broader policy and regulatory discussions about the crypto industry and its future role in finance.
Trump and $TREMP Crypto Endorsements
The recent case of Donald Trump pro-crypto comments at a meeting at Mar-a-Lago marks a significant pivot in its stance toward the cryptocurrency industry, which contrasts with the Biden administration’s stricter regulatory approach. Trump’s endorsement has also sparked considerable interest in political meme coins, particularly $TREMP, reflecting the irony of how these “joke” tokens are increasingly becoming a topic of legitimate discussion in political campaigns.
As these tokens gain traction, they offer a unique and humorous lens through which the public can interact with the often polarizing figures of real-world politics. This is the first election where such a thing is possible, blurring the lines between satire and serious political commentary. Political meme coins like $TREMP demonstrate the changing landscape of voter engagement and discourse, providing a unique, yet unconventional, way to engage with and speculate on the electoral process.
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