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US Presidential Race Sees a Number of Shitcoins Pumping on Uniswap

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The cryptocurrency industry has had a long history with betting and gambling, with some chains, like Tron, being the major gambling hubs.

Betting on political events using digital assets has been particularly popular as of late, especially now that the new US presidential race has kicked off.

The United States will elect a new president in 2024, and the crypto industry is investing in cryptocurrencies that emerged recently, named after the new candidates.

These so-called shitcoins have attracted a lot of traffic on DEXes, where listing them is a shorter and less complex process.

Uniswap, for example, recently saw several new cryptos tied to the candidates, including the DONALD (TRUMP) token and President Ron DeSantis (RON) token.

Both new cryptocurrencies are based on Ethereum, launched as ERC-20 tokens.

DEXTools, a decentralized exchange data and analysis tools platform for traders, has revealed several interesting pieces of information about both cryptos.

According to DEXTools, the TRUMP, and RON tokens are paired against WETH.

Which token is more popular?

TRUMP is based on Donald Trump, the former US president who will now be running again as a Republican. As for RON, this cryptocurrency is based on Ron DeSantis, another Republican, and the newest presidential candidate.

TRUMP and RON are currently the two most popular coins since both gathered quite a bit of support among Republicans.

In fact, Florida Gov. Ron DeSantis is widely considered Trump’s most serious challenger.

While the Republicans have as many as 7 confirmed candidates at this point (and three more potential ones), Trump and DeSantis are the top candidates in the eyes of the crypto industry.

According to DEXTools, the TRUMP token has seen $82.8k in terms of volume in the last 24 hours, with a total market cap of $271.4k, 77 different holders, and 159 total transactions at the time of writing.

RON, on the other hand, has seen $1.2 million in 24h volume, with a $1.59m total market cap, but also 69 holders who made 381 transactions since the token’s launch.

TRUMP token’s project reliability score (DEXTscore) is only 19/99, while RON’s DEXTscore is 54/99.

The problem with these cryptos is that they are most likely troublesome, fraudulent projects.

TRUMP, for example, has a 98% sale tax, and there are several red flags tied to RON, as well. Investors are recommended to stay away from cryptos like this, especially when there are plenty of legitimate opportunities out there right now.

One example is AiDoge (AI) — a new cryptocurrency that is in the middle of its presale right now.

AiDoge is storming the meme coin sector, and it will launch with some important utilities. The project intends to launch the most advanced, AI-based meme generation platform, with the AI token at the heart of it.

The token is available for the price of $0.0000332 at the time of writing, and in about four days, its price will go up to $0.0000336, starting the last phase of its presale before the listing.

AiDoge has already raised over $13.7 million, and the available supply is dropping with every new day.

Those who decide to buy it can do so with ETH, BNB, USDT (ERC-20 and BEP-20 versions) or with their credit or debit card.


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