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Following weeks of anticipation leading up to the US Presidential Elections, PolitiFi tokens surged as investors speculated on the results.Ā
However, after Republican candidate Donald Trumpās victory on November 6, the PolitiFi token market experienced a dramatic crash. These tokens, initially driven by election speculation, are now in steep decline.
The entire PolitiFi token market has suffered a significant blow, with the total capitalization of all such coins plummeting by 21.5% to $532.5 million at the time of writing. This downturn contrasts sharply with the broader crypto market, which saw a 10% rise in total market cap over the last 24 hours. For investors who bet on PolitiFi tokens as election-linked assets, this outcome is especially disappointing.
Notably, the decline of PolitiFi tokens reveals a waning interest in election-focused coins. Many investors anticipated substantial gains if their candidate won, but with Trumpās victory, even Trump-themed tokens have depreciated in value. The drop signals diminished confidence in PolitiFi coinās future, raising questions about the longevity of election-tied cryptocurrencies.
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PolitiFi Tokensā Market Cap. Source: CoinGecko
Among top PolitiFi tokens, those tied to Democratic candidate Kamala Harris have faced the steepest losses. These tokens, once popular bets, plummeted after her loss by a wide margin. This sharp decline reflects the disillusionment of investors who saw these tokens as politically speculative assets.
Interestingly, Trump-themed tokens also tumbled post-election. TRUMP, MAGA, and TREMP coins dropped by 48.9%, 50.6%, and 59.8%, respectively, showing that even winning candidatesā tokens are struggling. This market response indicates a waning appetite for PolitiFi coins as traders quickly pivot away from election-driven assets.
Top PolitiFi Tokens. Source: CoinGecko
Amid the PolitiFi marketās collapse, ConstitutionDAO (PEOPLE) has been the lone survivor. Unlike other tokens, PEOPLE isnāt directly tied to Trump or Harris, which may explain its resilience. Following a brief decline of only 5.3% after three days of gains, PEOPLE currently trades at $0.0666, edging close to $0.0669.
PEOPLEās comparatively stable performance hints at the tokenās potential to withstand the marketās volatility. As of now, it is attempting to stay above $0.0669, signaling cautious optimism. Owing to limited association with electoral candidates, PEOPLE may appeal to traders seeking refuge from more volatile PolitiFi tokens.
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PEOPLE Price Analysis. Source:Ā TradingView
Based on current trends, PEOPLE is likely to retain its support at $0.0579, offering a more stable alternative in the tumultuous political market. This support level could attract cautious investors interested in a less politically reactive token, making PEOPLE a unique asset within the PolitiFi sector.
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