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Kamala Harris Memecoin Skyrockets 250% as Pressure Mounts on Biden to Step Down

A Joe Biden-themed memecoin tanked nearly 75% since his debate against Donald Trump last week, while his possible replacement’s memecoin has surged.
kamala harris memecoin surges biden debate

A cryptocurrency inspired by Kamala Harris, Kamala Horris (KAMA), has surged by almost 250% since last Thursday amid increasing calls for Joe Biden to withdraw from the presidential race following a lackluster debate performance against Donald Trump.

According to Dex Screener, KAMA, a Solana-based token featuring a whimsical caricature of the Vice President, saw its market cap rise to nearly $11.9 million from $3.5 million just after the June 27 debate. However, it dropped from its peak of $22.2 million on July 3.

KAMA reached a peak price of over 2 cents on July 3, it’s now trading just above 1 cent Source: DEX Screener

Reports from Reuters on July 3 indicate that Harris is the leading candidate to replace Biden should he decide not to seek reelection, based on discussions among senior sources in the Biden campaign, White House, and Democratic National Committee.

In contrast, another meme coin named Jeo Boden (BODEN), misspelling Joe Biden’s name, has plummeted by over 22% in the past day and 73.4% over the week, as per CoinGecko.

These movements follow Biden’s widely criticized debate performance, where analysts noted his raspy voice and occasional loss of focus. At 81, Biden, the oldest presidential candidate ever, attributed his performance to a cold and jet lag despite being in the same time zone leading up to the Atlanta debate.

As pressure mounts with declining poll numbers, media scrutiny, and calls from Democratic figures for him to step aside, Biden insists he stays in the race, emphasizing his determination during a recent Zoom call with campaign staff.

This revision aims to convey clearly and concisely the main developments in the cryptocurrency market related to political events.

Related news: Polymarket Reaches $100M Monthly Volume Amid Heated Presidential Race

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