Written by: BitpushNews

The market effect of Trump’s "turning stone into gold" is being emulated by Vice President JD Vance.

On September 24, local time, U.S. Vice President JD Vance posted a meme based on himself titled "Pwease" on social media platform X, which unexpectedly caused the Solana meme coin PWEASE to surge by 65% in a short time. Although it later fell nearly 30%, its current market capitalization still stands at approximately $4.02 million.

This "promotional spectacle" featuring political figures has once again demonstrated the power of political influence in the crypto market.

A Traffic Surge Triggered by the Word "Please"

The story begins in February of this year. At that time, Vance, while speaking with Ukrainian President Zelensky, insisted that the latter must say "please" and "thank you" to the United States. This conversation was turned into a meme by foreign netizens, leading to the creation of the PWEASE token on the Solana blockchain.

In March of this year, the token's market capitalization once soared to $54 million, but as the hype faded, its market cap recently dropped to just $4 million.

Vance's release of the meme was aimed at attacking American political commentator Joy Reid. Reid criticized Vance in a video for entering Yale University through "diversity policies" (DEI), and Vance used this meme as a response, which was interpreted by the public as a jab at Reid's appearance.

The tweet garnered 5.7 million views within three hours, directly driving a 235% surge in PWEASE trading volume, with its market cap briefly surpassing $6 million.

In stark contrast to the short-term popularity of PWEASE, the official Trump meme coin TRUMP has continued to perform poorly. Despite Trump recently delivering an important speech at the United Nations General Assembly, the token's price has fallen by about 90% from its January peak. This contrast highlights the high event-driven dependency of political meme coins, with their price fluctuations exhibiting strong uncertainty and speculative characteristics.

In fact, political risk has become a new variable that cannot be ignored in the crypto market. From Trump to Vance, the model of political figures influencing crypto assets through social media is gradually solidifying: statements generate community attention, which in turn triggers significant price volatility.

Data shows that political meme coins have developed into a unique sector within the crypto market. As of September 25, the total market capitalization of the top ten politically related tokens has surpassed $500 million, but their 30-day average volatility exceeds 200%, far higher than mainstream cryptocurrencies.

Although PWEASE has seen significant short-term gains, its fundamentals are extremely weak. The token reached a market cap high of $54 million in March, then plummeted over 90%. Whether the price increase brought about by Vance's remarks can form sustained support remains a significant question.

For ordinary investors, political meme coins pose three main risks:

• Prices are highly tied to the actions and words of political figures, leading to extreme volatility;
• Lack of practical applications and value support makes it difficult to establish a valuation system;
• Vulnerable to impacts from changes in policy regulation, highlighting uncertainty.

As of the time of writing, PWEASE's market cap has fallen 24% from its peak, to around $4 million; the TRUMP token continues its downward trend, down nearly 90% from its January peak. The rollercoaster market of political cryptocurrencies once again validates the meme principle of coexisting high volatility and high risk.

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