U.S. election-themed meme tokens are taking a hit, with several down nearly 95% from peak prices. Solana-based Jeo Boden (BODEN), a play on Joe Biden, has dropped 70% in the past week, CoinGecko data shows. BODEN is now down 80% in the last 30 days, and back to levels last seen in early March, when it was just issued. Even Donald Trump-themed tokens have dropped, despite Trump’s electoral chances surging post-debate. The political finance (PoliFi) sector has contracted by 11% in the last 24 hours, contrary to expectations of a rally following the June 27 debate. Austin Freimuth, a research analyst at Messari, has said that the significant event could be Trump’s selection of his running mate, should it trigger the creation of new meme coins.
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