PANews reported on November 6 that according to CoinDesk, with the arrival of the US election day, election-themed memecoins have surged, with more than 1,000 new tokens released on the Solana chain in the past 24 hours alone. Dextools data shows that from 6:00 to 14:30 UTC time, more than 40 Trump-themed memecoins were released on Ethereum, and more than 100 related tokens on the Solana chain were added in a short period of time.
Trump-themed MAGA tokens have seen a surge in trading volume, with a market value of over $150 million; Harris-themed KAMA tokens rose 150% on November 1, but then fell 50%, with a current market value of about $11 million. However, most election-themed memecoins are volatile and prone to "carpet pull" scams. The heat of the memecoin market this year is similar to last year's Bitcoin Pizza Day, with many projects taking advantage of the event to profit, but ultimately harming investors.
