If elections were settled with memecoins, Biden would win by a landslide

PolitiFi is a super serious digital asset class

article-image

Philip Yabut/Shutterstock modified by Blockworks

share

They say art reflects culture. If that’s true, then memecoins reflect the baser instincts: greed, hunger, self-preservation and the human urge to buy the bottom to sell the top.

So too, then, must memecoins invoking political figures gauge sentiment for their avatars ahead of the US presidential election later this year.

There’s only four tokens in the “PolitiFi” category with measurable market caps, according to CoinGecko. 

Memecoins joe boden (BODEN) and MAGA (TRUMP) make up 99.7% of that value, while others include a ragtag bunch of spinoff Trump tokens and one for Argentina’s fiery new president, Javier Milei.

Neither Republican or Democrats have confirmed nominees but incumbent Joe Biden and former US president Donald Trump are widely presumed to be running against each other again in November.

Read more: In latest cash grab, Trump mixes NFTs and political cultism

BODEN launched on Solana less than one month ago and is already valued at twice TRUMP’s cap — $487 million to TRUMP’s $222 million. TRUMP was first issued on Ethereum in late August last year.

TRUMP sent to an Ethereum address tied to Trump NFT drops are now worth $2.66 million

The big two PolitiFi tokens have multiplied in price 10 and 20 times over this year, and all things considered, are some of the best performing on the market — albeit one clearly preoccupied with memecoins

Realistically, the success of BODEN probably has little to do with widespread positive sentiment about the actual guy. 

BODEN memes make Joe look feeble, old and silly. Perhaps BODEN going up makes those attributes official in the minds of crypto, in which case positive price action isn’t exactly a positive. It’s also likely a product of the Solana memecoin bonanza which has provided BONK and WIF.

Own onli Boden nd be happy (Source)

Polymarket currently has Trump beating Biden by 47% to 44% in November, if they’re both to run. 

Interestingly, betters say Biden will win the popular vote in a landslide: 63% to 28%, which would more reflect what the memecoins are saying. 

Both hold similar approval ratings in the real world, according to FiveThirtyEight, with Trump having the edge.


Get the news in your inbox. Explore Blockworks newsletters:

  • Blockworks Daily: The newsletter that helps thousands of investors understand crypto and the markets, by Byron Gilliam.
  • Empire: Start your day with top crypto insights from David Canellis and Katherine Ross.
  • Forward Guidance: Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin.
  • 0xResearch: Get alpha directly in your inbox — market highlights, charts, degen trade ideas, governance updates, and more.
  • Lightspeed: All things Solana, in your inbox, every day from Jack Kubinec and Jeff Albus.
  • The Drop: The newsletter for crypto collectors and traders, covering games, tokens, apps, memes and more.
Tags

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 18 - 20, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

monad ecosystem report graphic.png

Research

Monad's testnet launch has shown promise with 57 geographically distributed validators and over 20 live applications on day one. However, the ecosystem's true test will come with mainnet as it transitions from testing to real economic activity alongside the launch of the native gas token.

article-image

USDN lets apps and rollups distribute the underlying T-bill yield to users

article-image

In an X Spaces debate, Lily Liu urged Solana to take a more holistic approach to inflation

article-image

The Drop’s Kate Irwin explains why the Web3 gaming industry isn’t as focused on delivering games catered to traditional gamers

article-image

It paid to be a vibes trader in the past, but now it’s time to focus on fundamentals, Blockworks Research’s Ryan Connor said

article-image

What to watch out for in Trump’s first joint Congressional address this evening

article-image

The VIX spiked after the open this morning, marking the highest level of volatility we’ve seen so far this year