The Political Finance memecoin market cap has increased by over 14% in the past 24 hours — outperforming the rest of the cryptocurrency market.
The top three memecoins by market capitalization in CoinGecko's PolitiFi category account for approximately 82% of the category's total market capitalization of $1.58 billion. Of the top three PolitiFi memecoins, Jeo Boden has posted the most gains in the past 24 hours. The token is trading up over 18% during that time frame.
In comparison to the PolitiFi rally, the entire cryptocurrency market cap decreased by 0.4% in the past 24 hours to $2.68 trillion, and the price of leading cryptocurrencies bitcoin and ether decreased by around 0.2% and 1.6%, respectively, according to The Block's Prices Page.According to this week's Bitfinex Alpha report, although major cryptocurrencies have seen modest declines in the past day, sell-side pressure from long-term bitcoin holders has decreased.