Memecoin Creators Exploit U.S. Election Mania, Create Thousands of New Tokens on Solana, Ethereum

There are, however, more established election-related memecoins including MAGA and the Kamala Harris-themed KAMA. Trading volume for MAGA, which launched in August 2023, has surged by 27% in 24 hours, taking its market cap above $150 million. KAMA rose by 150% on Nov. 1. It has since tumbled by 50% to an $11 million market cap.