- As the U.S. elections approach, memecoins BODEN and TRUMP see significant price pumps.
- Meanwhile, social volume for other tokens such as WIF, PEPE, and SHIB has declined.
- Post-election, these tokens could experience a significant price crash, potentially leading to substantial losses for holders.
With the U.S. elections looming, memecoins BODEN and TRUMP are experiencing price surges, while other tokens like WIF, PEPE, and SHIB see a dip in social volume. What does this mean for the future of these tokens?
Memecoins BODEN and TRUMP Surge
In the last 24 hours, the memecoin sector has seen a significant shift. While most coins in the sector experienced a downturn, Solana [SOL] memecoin Jeo Boden [BODEN] and TRUMP memecoin bucked the trend. BODEN was trading at $0.3479, with its price growing by 18%, while TRUMP was trading at $6.23, with a price surge of 43.07% in the last 24 hours.
Impact of U.S. Elections on Memecoins
As the U.S. presidential elections draw closer, tokens like TRUMP and BODEN may see a rise in popularity, potentially negatively impacting other memecoins. However, once the elections are over, these tokens could experience a significant price crash, leading to substantial losses for holders. This shift could also affect the market share of popular memecoins like SHIB, PEPE, and WIF, whose social volume has declined significantly over the past three months.
Declining Social Volume for SHIB, PEPE, and WIF
An analysis of Santiment’s data reveals that the social volume for SHIB, PEPE, and WIF has significantly declined. WIF and PEPE had the lowest social volume at the time of writing, while SHIB performed marginally better. The sentiment around these tokens can also impact their performance. The Weighted Sentiment for SHIB and PEPE was extremely high, indicating a surge in positive comments. However, WIF’s Weighted Sentiment had fallen significantly, implying a rise in criticisms.
Conclusion
The future of these tokens heavily relies on their popularity and sentiment. With the U.S. elections approaching, tokens like BODEN and TRUMP may see a surge in popularity, while others like SHIB, PEPE, and WIF may continue to experience a decline. However, the post-election period could lead to a significant price crash for BODEN and TRUMP, potentially leading to substantial losses for holders. Therefore, investors should tread carefully and keep a close eye on market trends.
