- With extremely stupid meme coins, cryptocurrency speculators are once again placing bets on the extremely important topic of presidential politics.
With the help of ridiculous meme coins, such as one honoring Vice President Kamala Harris that more than doubled in value on Sunday, cryptocurrency speculators are once again placing bets on the very serious business of presidential politics.
Minutes after President Joe Biden announced he was abandoning his reelection campaign, KAMA reached an all-time high of 2.4 cents. KAMA has roughly four times the market capitalization of BODEN, the Biden-inspired coin that was once the kingmaker cryptocurrency of so-called PolitiFi, with a market value of $24 million. BODEN saw a nearly 50% decrease following Biden’s announcement..
A flood of new tokens ridiculing Harris and Biden were created by traders on the meme coin launchpad Pump.fun in response to the political upheaval. If past performance is any indication, the majority of those tokens will probably lose value as buyers and sellers compete to trade the majority of meme coins on the Solana (SOL) blockchain.
Biden supported Harris’s presidential candidacy. Sen. Elizabeth Warren, a crypto-critic, and former president Bill and Hillary Clinton also did so.
Harris stated in a statement, “I am honored to have the President’s endorsement and my intention is to earn and win this nomination.” I’ll exert every effort to bring the Democratic Party and the country together in opposition to Donald Trump and his divisive Project 2025 program.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
