As I see it, it is a meme coin destined for zero. This, assuming Kamala Harris’ political future have any influence in the coin.
Crypto traders have dived headfirst into the fray of presidential politics with their favorite weapon of chaos: meme coins. The latest star? Vice President Kamala Harris. Her meme coin, KAMA, skyrocketed, more than doubling in price to an all-time high of 2.4 cents on Sunday. This surge followed President Joe Biden’s bombshell announcement that he was dropping his bid for reelection. With a market cap now hitting $24 million, KAMA dwarfs the Biden-inspired BODEN, which has tumbled nearly 50% since Biden’s news broke.
🚨JUST IN: Solana meme coin $KAMA is up more than 100% in the last 1 hour after @JoeBiden dropped out of the presidential race and nominated Kamala Harris @VP as the candidate. pic.twitter.com/q4OzTp8Sqz
— SolanaFloor (@SolanaFloor) July 21, 2024
The political earthquake spurred a flurry of new meme coins on Pump.fun, targeting Harris and Biden. History shows that these tokens often crash and burn as traders play a frantic game of buy-and-dump on the Solana (SOL) blockchain, where meme coins live and die in the blink of an eye.
Biden’s shock exit has turned the crypto meme market on its head, and KAMA is riding the wave. Former President Bill Clinton, former Secretary of State Hillary Clinton, and crypto skeptic Senator Elizabeth Warren have thrown their weight behind Harris, following Biden’s endorsement. The political endorsements added more fuel to the meme coin mania.
CRYPTO TRADERS BET ON KAMALA HARRIS MEME COIN AFTER BIDEN DROPS RE-ELECTION BID
Crypto traders are betting on meme coins linked to presidential politics.
VP Kamala Harris’ coin, KAMA, doubled in price after Biden announced he wouldn’t seek re-election.
KAMA hit an all-time… pic.twitter.com/Xmcfsydjdp
— Crypto Town Hall (@Crypto_TownHall) July 21, 2024
Harris, in a fiery statement, declared, “I am honored to have the President’s endorsement and my intention is to earn and win this nomination. I will do everything in my power to unite the Democratic Party – and unite our nation – to defeat Donald Trump and his extreme Project 2025 agenda.”
The endorsement frenzy has not only electrified the political landscape but also set the crypto world ablaze. Traders are now speculating wildly, launching new tokens that rise and fall with dizzying speed. Amid the chaos, KAMA stands out as a symbol of this volatile fusion of politics and cryptocurrency.
Kamala Harris Meme Coin $KAMA Skyrockets Over 100% After Biden Withdraws, Endorses VP Harris$MAGA $BODEN $TREMP #USPresidentialElection2024 pic.twitter.com/mwUnvXJ7S7
— 3.0 TV (@reallive3tv) July 22, 2024
In the midst of all this, the crypto-critics remain vocal, yet the meme coin market thrives on unpredictability. Harris’s campaign, buoyed by high-profile endorsements, seems poised to ride this unconventional wave, as the lines between politics and digital currency blur further.
Major Points:
- Crypto traders are betting big on meme coins tied to presidential politics, with Kamala Harris’s KAMA coin surging over 100% after Biden’s reelection withdrawal.
- KAMA hit a record high of 2.4 cents and a $24 million market cap, vastly outperforming the Biden-themed BODEN coin, which dropped 50%.
- Biden’s announcement triggered a flood of new Harris and Biden-themed tokens on Pump.fun, many expected to quickly lose value.
- High-profile endorsements from Bill and Hillary Clinton and Senator Elizabeth Warren followed Biden’s support for Harris.
- Harris vowed to unite the Democratic Party and defeat Trump’s Project 2025, fueling further excitement in the meme coin market.
Lap Fu Ip – Reprinted with permission of Whatfinger News
