In the wake of the U.S. presidential elections, the memecoin market has surged, with over 1,000 new tokens launched in just 24 hours on the Solana blockchain. This wave of election-themed memecoins has also seen substantial activity on Ethereum. Historically, such tokens often fall prey to scams and rug pulls, raising concerns among investors. Among these tokens, the MAGA token, themed after Donald Trump, has notably surpassed a $150 million market cap, highlighting the allure of politically themed cryptocurrency amidst the election frenzy.
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