The Buzz Around Kamala Harris Memecoin
Thursday saw an almost 250% increase in the value of a memecoin with a Kamala Harris theme as pressure mounted on US President Joe Biden to withdraw from the presidential contest following a dismal debate with Donald Trump. According to Dex Screener, Kamala Horris (KAMA), a purposefully misspelled Solana token that was promoted with a crudely drawn cartoon of the vice president of the United States, has had its market cap increase from $3.5 million to around $11.9 million at the time of the June 27 debate.
KAMALA Rally, BODEN Fall: Kamala Harris Will Be the Prominent Name in the Possibility of Biden Withdrawing from the Race
Reuters reported on July 3 that Harris is the front-runner to succeed Biden in the event that he withdraws his reelection effort. The article cited seven senior officials who were aware of ongoing negotiations at the Biden campaign, the White House, and the Democratic National Committee.
As for President Biden’s misspelled memecoin, Jeo Boden (BODEN), according to CoinGecko, it has dropped more than 22% in the last day and 73.4% in the last week. Following the June 27 Biden-Trump debate, which saw Biden sounding raspy and occasionally appearing to lose his train of thought, political pundits have pointed to Biden’s dismal performance as the reason for KAMA’s rally and BODEN’s retreat.
FAQ
What is the Kamala Harris Memecoin?
The Kamala Harris memecoin is a cryptocurrency themed around U.S. Vice President Kamala Harris. It has become a meme-based digital asset among crypto enthusiasts and political followers.
What Factors Influence the Price of the Kamala Harris Memecoin?
The price of the Kamala Harris-themed memecoin is influenced by social media trends, political developments, market speculation, and overall sentiment in the cryptocurrency market.
Who is Behind Kamala Harris Memecoin?
The team of developers behind Kamala Harris’s memecoin is anonymous, which is a common situation for memecoins.
Why the Pressure on Biden to Drop Out?
FiveThirtyEight surveys show Trump leading by 2.3 percentage points, and voters, media, and Democratic politicians are putting pressure on Biden to withdraw as worries mount that he won’t be able to defeat Trump on November 5. A July 3 New York Times and Siena College survey similarly finds Trump in the lead and reveals that 75% of respondents—a five percentage point increase since the debate—believe Biden is too elderly to be president.
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