As the United States Presidential elections debate approaches on June 27, political memecoins are taking center stage. These assets, tied to the personalities of either President Joe Biden or Donald Trump, are experiencing intense volatility in the market.

Volatility Engulfs Political Memecoins

Over the past week, political memecoins have been recording significant price fluctuations. While Jeo Boden (BODEN) and Doland Tremp (TREMP) have seen declines of 6.32% and 11.39%, respectively, MAGA has surged by 6% to $7.47 in the past 24 hours.

The performance of these memecoins is closely linked to the activities of the candidates they represent. As the potential outcome of the upcoming debate remains uncertain, the entire political memecoin ecosystem is facing a period of uncertainty.

The broad negative drawdown in this asset class is noteworthy. While the two major tokens, BODEN and TREMP, have slumped over the past month, BODEN has suffered more due to the growing acceptance of former President Donald Trump, who is now embracing the crypto industry.

Analysts tracking the trend believe that the upcoming debate might hold sway for these tokens. Investors in political memecoins might closely monitor the respective crypto policies discussed by both candidates to determine their investment strategies.

Potential for Upside Gains

Although memecoins are primarily established for entertainment purposes, many are transitioning to hold sway in crucial social discourse. Ahead of the debate, more drawdowns might be recorded, but the upside potential is significant.

After a substantial discount, investors are likely to increase their exposure, which might fuel a rerun to all-time highs for these tokens.

The Broader Industry Influence

While most investors will track the performance of political memecoins this week, attention will also be focused on Bitcoin (BTC). The expectation is that former President Donald Trump might mention his position on Bitcoin mining in the U.S. Earlier, he revealed plans to retain the remaining hash power to make America the biggest Bitcoin miner. Trump has also labeled himself the "Crypto President" and has accepted Bitcoin as campaign donations.

President Joe Biden's campaign team is also exploring different avenues to capitalize on the crypto trend. Experts have labeled this upcoming election the first crypto election in the U.S., as both candidates aim to appeal to the crypto-savvy electorate.

In conclusion, the Trump vs. Biden debate is set to have a significant impact on the political memecoin market, with investors closely watching for any crypto-related policies or endorsements from the candidates. The outcome of this debate could shape the future of crypto adoption in the U.S. and influence the broader cryptocurrency market.