Analysts Say Political Meme Coins to Remain Volatile as US Presidential Debate Looms

On-chain experts have warned that political-themed meme coins will remain volatile for the next seven days or more as the United States presidential debate approaches.PolitiFi tokens have become speculative assets for the outcome of the upcoming elections; hence, they could witness dramatic rises and falls before, during, and after the debate between the leading candidates, incumbent President Joe Biden and former President Donald Trump.

These meme coins have garnered market caps and volumes running into millions of dollars as crypto community members continue to trade them. Data from Coingecko’s PolitiFi token categorythe meme coins have a collective market cap of more than $1 billion and a 24-hour trading volume of over $256 million.

The U.S. presidential debate between Biden and Trump, scheduled to air live on June 27, will see both candidates reveal their proposed policies. The duo would discuss legislative processes, likely touching on frameworks affecting cryptocurrencies. Bitfinex analysts believe discussions concerning general capital gains taxes and crypto taxation policies would interest the community and potentially

“There could be significant movement for ‘Politifi’ tokens during and after the debate depending on their performance as these tokens have turned into speculative assets themselves in terms of the election results. What could be interesting and have market impact is discussion around capital gains taxes in general and crypto taxation policies in particular,” the analysts stated.losses of 10% and 8% in the past month, respectively.

Meanwhile, top crypto community members have announced their support for Trump due to his pro-crypto stance. Yesterday, crypto exchange Gemini co-founders, the Winklevoss twins,Best AI Crypto Coins in 2024: Top 9 Projects to WatchOne Weekly Email Can Change Your Crypto Life.Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments.

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