{"id":15398,"date":"2024-07-22T11:43:03","date_gmt":"2024-07-22T08:43:03","guid":{"rendered":"https:\/\/forklog.com\/en\/meme-coins-react-to-shifts-in-us-presidential-race\/"},"modified":"2024-07-22T11:43:03","modified_gmt":"2024-07-22T08:43:03","slug":"meme-coins-react-to-shifts-in-us-presidential-race","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/meme-coins-react-to-shifts-in-us-presidential-race\/","title":{"rendered":"Meme Coins React to Shifts in US Presidential Race"},"content":{"rendered":"

The meme token Kamala Horris (KAMA) surged to an all-time high following US President Joe Biden’s announcement to end his re-election campaign.<\/p>\n

Vice President Kamala Harris emerged as the main candidate for the Democratic Party. Coins dedicated to her saw a sharp increase in value: KAMA’s price tripled to approximately $0.03. At the time of writing, the rate corrected to $0.02, with the coin’s market capitalization at $19 million.<\/p>\n

\"dexscreener.com_KAMA_SOL_2024-07-22_09-17-10\"
15-minute KAMA\/SOL chart on the decentralized exchange Raydium. Data: DEX Screener<\/a>.<\/figcaption><\/figure>\n

The cumulative value of the Cumala Whoris (CUMALA) coin, launched on July 21, reached<\/a> $455,000 with a trading volume of $3.5 million. Dark Harris (HARRIS) figures were more modest \u2014 $59,000 and $617,000 respectively.<\/p>\n

Formally, the Democratic Party’s presidential candidate will be confirmed at the convention in August. Biden has endorsed Harris’s campaign. Former President Bill Clinton, former Secretary of State Hillary Clinton, and Senator Elizabeth Warren have also expressed their support, reports CoinDesk<\/a>.<\/p>\n

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“I am honoured to have the President’s support, and I intend to earn and win this nomination. I will do everything in my power to unite the Democratic Party \u2014 and unite our nation \u2014 to defeat Donald Trump and his extreme agenda,” stated the Vice President. <\/p>\n<\/blockquote>\n

The price of the jeo boden (boden) token plummeted by 57% to around $0.01 following the current head of state’s announcement. The asset’s market capitalization shrank to $6.6 million.<\/p>\n

\"dexscreener.com_boden_SOL_2024-07-22_09-52-50\"
15-minute boden\/SOL chart on the decentralized exchange Raydium. Data: DEX Screener<\/a>.<\/figcaption><\/figure>\n

Meme tokens dedicated to Biden family members showed a deep decline. The Jill Boden<\/a> coin lost over 82%, and the Hunter Biden\u2019s Laptop<\/a> (LAPTOP) token fell by more than 45%. The market capitalization of both coins dropped below $100,000.<\/p>\n

Meanwhile, the price of the No More Boden (NOBODEN) token, released amid these events, rose<\/a> by 145% within a few hours, with trading volume reaching $2.5 million.<\/p>\n

MAGA (TRUMP) quotes spiked<\/a> to $8 at one point, but the coin lost 5% over the past day during a correction. The leading meme coin themed around Donald Trump is trading at $6.7 \u2014 below the levels preceding Biden’s announcement. <\/p>\n

Biden’s Move Shakes Polymarket<\/h2>\n

The largest online prediction market, Polymarket, assesses<\/a> Harris’s chances of replacing Biden in the presidential race at 85%. She leads significantly over former First Lady Michelle Obama (5%).<\/p>\n

Meanwhile, a trader who bet approximately $12,490 on Harris’s nomination saw their position grow to ~$768,923, marking a gain of over 6000%. <\/p>\n

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This trade is going in the hall of fame. pic.twitter.com\/bvxraUqMwC<\/a><\/p>\n

\u2014 Polymarket (@Polymarket) July 21, 2024<\/a><\/p><\/blockquote>\n