Political-theme memecoins have gained attention as new entrants in the memecoin market this year. Tokens like BODEN and TRUMP have depicted well-known figures in Washington, attracting significant liquidity and market valuation based on memetic hype and speculation.
Make America Great Again, Again! (MAGAA) seeks to pioneer a “politifi” paradigm within the memecoin craze in the crypto market.
A project spokesperson disclosed that Ethereum, with its extensive on-ramps and support, is considered the best fit, although the possibility of launching on Solana is not ruled out. Shortly after its launch, the token surpassed a $4 million market cap, but experienced a surge in momentum on June 8, following a MAGAA event featuring former President Donald Trump.
The event drew over 275,000 viewers and included appearances by prominent personalities such as Andrew Tate, Dan Bilzerian, Mario Nawfal, and WallStreetBets. The media attention boosted MAGAA’s valuation to over $80 million, but it has since experienced a sell-off, according to DEX Screener data.
The project team hinted at potential support for pro-crypto super PACS like FairShakes, while emphasizing that MAGAA does not position itself as a regulatory lobbying force. A project representative clarified that $MAGAA has no direct utility and is solely intended to create a community of like-minded individuals.
Despite its lack of direct utility, the Trump-inspired project envisions promising prospects post-elections, anticipating that memecoins and politifi tokens will have more significant societal impacts than commonly expected. The MAGAA spokesperson emphasized a growing distinction between “memecoins” and “politifi” tokens, noting that politically themed memecoins are increasing in number and popularizing the term “politifi.”
The spokesperson also suggested that serious politically driven tokens embody specific beliefs and ideals, attracting investors who share those same beliefs and ideals, while memecoins are perceived as standing for nothing.