PolitiFi tokens saw a big jump in value right before the US Presidential Elections. Investors were buzzing with excitement about the results. But after Republican candidate Donald Trump won on November 6, the market for these tokens took a nosedive. What started as a thrilling ride quickly turned into a steep decline.
The total market value of PolitiFi tokens dropped by 21.5%, now sitting at $532.5 million. This fall stands out against the broader cryptocurrency market, which actually rose by 10% in the last 24 hours. For those who bet on PolitiFi tokens as election-related investments, this outcome is quite disappointing.
This decline shows that interest in election-themed cryptocurrencies is fading. Many investors had high hopes for significant gains if their candidate succeeded. However, with Trump’s win, even tokens associated with him are losing value. This raises concerns about the future of PolitiFi coins.
Among the various PolitiFi tokens, those linked to Democratic candidate Kamala Harris took the hardest hits. These tokens were once favorites but have plummeted after her significant loss. This sharp drop reflects how investors feel about these politically speculative assets.
Interestingly, Trump-themed tokens also fell after the election. TRUMP, MAGA, and TREMP coins dropped by 48.9%, 50.6%, and 59.8%, respectively. Even tokens tied to winning candidates are struggling. This market reaction shows that traders are quickly moving away from election-driven assets.
In contrast to the overall decline, ConstitutionDAO (PEOPLE) has stood out as a survivor. PEOPLE isn’t directly tied to Trump or Harris, which likely helps its stability. After a small dip of just 5.3% following three days of gains, PEOPLE is currently trading at $0.0666, nearing $0.0669.
PEOPLE’s steadiness suggests it might handle the market’s ups and downs better. Right now, it’s trying to stay above $0.0669, which indicates a bit of cautious optimism. Because it’s less connected to electoral candidates, PEOPLE might attract traders looking for a safer option amid the more volatile PolitiFi tokens.
Current trends suggest that PEOPLE is likely to maintain support at $0.0579. This could offer a more stable choice in a turbulent political market. This support level might draw in cautious investors looking for a token that reacts less to political events, making PEOPLE a unique asset in the PolitiFi sector.