PolitiFi Meme Coins For Joe Biden Replacements Surge After Poor Debate Performance
A slew of new PolitiFi meme coins are seeing major volatility on Wednesday around speculation that President Joe Biden might not secure the Democratic Party nomination for the 2024 Presidential election.
Data from CoinGecko shows that the Solana-based Gabin Noosum (NOOSUM) token – a misspelling of California Governor Gavin Newsom’s name – climbed from $0.003 to $0.0051 early on Tuesday before retracting almost all of its gains by Wednesday morning.
Even more dramatically, the Kamala Harris (KAMA) token has experienced a 344% surge in the past 24 hours to $0.015 apiece, fueled by speculation that Vice President Kamala Harris could become the Democratic front runner in Biden’s place.
Conversely, the Jeo Boden (BODEN) meme coin plummeted 73% over the past seven days.
Kamala Harris has officially overtaken Biden in prediction markets for Democratic nominee.
But her memecoin $KAMA still needs another 100% gain to flip $BODEN market cap.
This is either the dumbest trade or the easiest 2x in crypto.
Or both. pic.twitter.com/Eu6bjhJ0YK
— Luke Martin (@VentureCoinist) July 3, 2024
The conversation surrounding a potential replacement for President Biden as the nominee gained momentum last Thursday.
This followed what many political commentators considered a lackluster Presidential debate performance from Biden against former President Donald Trump.
In the aftermath, some Democratic party members have urged Biden to step down from the race, citing concerns about his mental acuity and ability to effectively serve another presidential term.
Reflecting this shift in sentiment, crypto bettors on Polymarket are increasingly predicting that a Democrat other than Biden is more likely to win the election than Trump.
Kamala Harris is now the favorite
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