Political memecoins — PolitiFi — had a real moment during the first half of the year. That’s since been put on hold.

The five most prominent tokens, MAGA (TRUMP), MAGA Hat (MAGA), Doland Tremp (TREMP), Jeo Boden (BODEN) and Kamala Horris (KAMA), altogether peaked at over $1.25 billion market cap at the start of June.

Now they’re worth under $170 million, a near-90% collapse. 

The remnants of ConstitutionDAO, which lost an auction of a rare first-print of the US constitution to Citadel CEO Ken Griffin in late 2021, now make up almost two-thirds of the entire PolitiFi market, per CoinGecko. Although, it’s arguable whether it should be really ranked alongside political parody…

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