As Bitcoin holds steady around $68,000, a new crypto trend is emerging: political meme coins, or “PolitFi” tokens.
These satirical tokens are stealing the spotlight and producing market-beating gains.
But can they continue outperforming Bitcoin in November?
Bitcoin’s Path Remains Uncertain as Presidential Election Approaches
Bitcoin’s latest move has kept traders on their toes.
The world’s biggest crypto is up 4% from Wednesday’s dip, but is still below Monday’s local high.
Trading volumes have hit $30.4 billion in the past 24 hours, and open interest has climbed to $21.4 billion.
All this has helped push Bitcoin’s market cap back to $1.35 trillion.
But with the upcoming presidential election, Bitcoin’s path isn’t set in stone.
Investors are watching closely: a Trump win could spark a crypto rally, while a Harris win might unsettle markets given her tough stance on digital assets.
This uncertainty has some eyeing gains elsewhere.
For example, crypto expert @crypto_caesar1 said, “altcoin season is loading.”
He believes that Bitcoin is “topping out” and that smaller-cap coins might lead the way in the next two quarters.
Political Meme Coins Could Outshine Bitcoin This November
Bitcoin’s track record for November is mixed.
It gained 8.8% last year, but drops of 16% and 7% in 2022 and 2021 show that the coin doesn’t always deliver the year-end rally that bulls hope for.
Meanwhile, PolitFi tokens have a history of spiking with campaign news, especially when it benefits their namesake candidates.
With Polymarket giving Trump a 64% chance of winning, the stage could be set for even bigger moves for these tokens, given that most are Trump-themed.
Bitcoin, in contrast, has been ranging since March.
That’s left traders questioning whether it can actually rally in November.
For those seeking higher returns, PolitFi tokens may offer better opportunities, especially given the election is less than two weeks away.
Analyst @EL_MAG0 on Twitter certainly thinks so.
He points out that the PolitFi sector’s market cap was previously as high as $1.1 billion – and believes we’ll see that number again before the election.
If that prediction proves accurate, there’s every chance that political-themed meme coins could outperform Bitcoin’s returns in the coming weeks.
Top PolitFi Tokens to Watch as Election Day Nears
A few PolitFi tokens are emerging as standout plays ahead of election day.
Leading the market is MAGA (TRUMP), the biggest coin in this space, with a $165 million market cap and a reputation for intense swings.
TRUMP often moves double-digits in either direction within hours.
Doland Tremp (TREMP) is another PolitFi coin to watch for traders with a high risk tolerance level.
Inspired by the popular Spoderman meme, TREMP boasts over $8 million in daily spot volume – and shows strong demand from retail investors.
New to the scene, FreeDum Fighters (DUM) offers a unique angle.
Still in presale, it’s one of the few PolitFi tokens with utility features, and its early viral growth suggests traders are buzzed about it.
FreeDum Fighters’ presale has raised over $270,000 in just one week.
And with enormous staking APYs, holders have two potential ways to earn: price appreciation and passive rewards.
Lastly, there’s Kamala Horris (KAMA), which provides exposure to a potential Harris election win.
However, this coin’s trading activity has been more modest than the rest.
While any of these tokens could outperform Bitcoin in the short term, they are still far more volatile than the OG crypto.
Their values depend mostly on speculation, which makes them better suited for risk-seeking traders who can handle wild price swings.
Regardless, the potential payoff could be huge for those willing to take a risk.
