With the U.S. presidential election approaching, what are the potential topics for speculation?

Original Title: "The U.S. Presidential Election is Approaching, What Are the Speculative Targets?"

Original Source: Woo

Background: The U.S. Presidential Election on November 5 is Approaching

With less than a week until the U.S. presidential election on November 5, the crypto user community has a seat at the table in this election. According to Triple A data, the proportion of Americans holding cryptocurrency in 2024 is 15.5%, representing about 51 million Americans, which is more than the total population of African Americans (41.1 million), only trailing behind Hispanic Americans (approximately 57 million).

This is also why cryptocurrency has become a focal point in this U.S. presidential election, with Trump continuously introducing crypto-friendly policies.

Meme coins are a manifestation of the attention economy, and they are always closely tied to hot events. The U.S. presidential election is an excellent topic for speculation, so which coins have speculative opportunities worth paying attention to?

Let WOO X Research show you!

High Market Cap Coins: DOGE, People

$DOGE

The reason why the first-ever meme coin DOGE has entered the political arena is closely related to Musk's support for Trump.

On August 20, Musk tweeted that he wanted to create a "Department of Government Efficiency," abbreviated as D.O.G.E, a concept suggested by the DOGE community. Trump also responded that if elected, he would establish this department, conduct a comprehensive financial audit of the government, and propose ways to reduce waste. Therefore, DOGE's price performance has begun to correlate with the presidential election.

https://x.com/elonmusk/status/1825723913051000851

· Current Market Cap: 25.5B

· 14-Day Price Change: +48%

· Upward Momentum: Musk's posts and mentions during Trump's rallies

$People

People is not centered around a presidential candidate but is a token issued by ConstitutionDAO.

ConstitutionDAO is a decentralized organization established in 2021, aimed at raising funds to bid for a rare copy of the U.S. Constitution at a Sotheby’s auction, raising as much as 6,000 ETH, approximately 40 million dollars.

At the same time, the PEOPLE governance token was issued through the blockchain platform Juicebox, allowing investors to exchange 1 ETH for 1 million $PEOPLE. Token holders do not directly own the Constitution but have the power of community governance. After successfully bidding for the Constitution, the DAO community would vote on how to handle the copy.

However, they ultimately did not win the bid, so ConstitutionDAO announced the project's end. After processing refunds, community members decided to dissolve the community, but some chose to retain the PEOPLE tokens exchanged for Ethereum and continue other projects in the form of a DAO, making $People a meme coin.

Meme, full circulation, low market cap, combined with the natural political attributes associated with the Constitution, have become the driving forces behind People’s price increase.

· Current Market Cap: 386M

· 14-Day Price Change: -7.6%

· Upward Momentum: High correlation with the timing of the presidential election

Low Market Cap Coins: MAGA, KAMA

$MAGA

The concept is an abbreviation of Trump's slogan "Make America Great Again," and its price trend is closely related to Trump's polling. There are quite a few Trump-themed coins in the market, including Trump, Tremp, Fight, babytrump, etc. Among them, MAGA has performed well in the past two weeks, while other coins have not seen price increases as expected despite Trump's rising election chances. If one believes Trump has a high chance of winning, MAGA is a more stable choice.

· Current Market Cap: 101M

· 14-Day Price Change: +83%

· Upward Momentum: Increases with the rising probability of Trump's victory.

$KAMA

The full name of the token is Kamala Horris (changing the 'a' to 'o'), conceptually a parody of the Democratic candidate Kamala Harris. It is worth mentioning that there are many Trump-themed meme coins, while there are very few Harris-themed coins, reflecting the political preferences of crypto users.

· Current Market Cap: 7M

· 14-Day Price Change: +13%

· Upward Momentum: Increases with the rising probability of Harris's victory.

Important Events & Timeline for Political Meme Coin Speculation

Electors Selected, Voting (11/5 & 12/16)

After the nationwide voting on November 5 to select electors, the electors from each state will meet on "the first Monday after the second Wednesday in December" (which is December 16, 2024) to vote for a slate of presidential and vice-presidential candidates based on the popular vote results in their states. Therefore, some say that this day is the true "U.S. Presidential Election Day."

U.S. Presidential Election Results Announced (2025/1/6)

The U.S. Congress will officially announce the elected candidates in early January of the following year. At that time, members of both the House and Senate will convene to certify and count the electoral votes, officially announcing the elected president and vice president. This process symbolizes the final confirmation of the election procedure and is the last step before the new government takes office.

Presidential Inauguration (2025/1/20)

The new president will be sworn in on January 20, 2025, officially starting their term.

Conclusion: Is the End of the Election a New Beginning for the Crypto Market?

It is foreseeable that as the presidential election concludes, the aforementioned meme coins will have little speculative momentum, and market sentiment will return to the new president's attitude towards cryptocurrency. Trump is clearly more appealing to crypto voters compared to Harris, and he has recently announced plans to issue his own stablecoin. This is also one of the reasons why both candidates are close in traditional polls, while Trump has a one-sided advantage in Polymarket.

Currently, Bitcoin is performing strongly. If Trump is ultimately elected, it can be seen as a positive outcome. In the short term, there may be price correction pressure, but if crypto-friendly policies are implemented over time, it will bring a more stable investment environment and long-term benefits to the overall market.