Trader Turns $960 into $78,789 on New Kamala Harris Meme Coin
Fortune has favored one lucky trader today, who in the early hours finished a series of transactions that got them 8200% returns on a $960 purchase of the new Kamala Harris meme coin parody Kamala Horris ($KAMA).
According to data on DEXScreener, the trader purchased 628,200 $KAMA tokens on June 26 and then flipped them over the course of three weeks and 266 transactions for a profit of $77,829, an increase of a fraction over 8107%.
In the run-up to the 2024 US Presidential eledtions, there has been a craze for meme coins parodying US politicians. Last week, Jeo Boden ($BODEN), a spin on incumbent President Joe Biden, rallied 20% overnight.
After a foiled assassination attempt on his number one challenger last Saturday, Republican nominee and crypto-friendly candidate Donald Trump, crypto parodies related to the latter surged sharply.
Crypto parody coins of the two main candidates are now in decline. MAGA ($TRUMP) and Pepe Trump ($PTRUMP) both fell 9% overnight, while MAGA Hat ($MAGA) is down 5%. Jeo Boden has lost a whopping 30% for its holders over the last 24 hours.
Still, Kamala Harris is not in the election race, a fact which fans of $KAMA will be leaning on to anticipate further price rises. Indications suggest the token could hold the fort at its current price of a cent, having risen 118% overnight.
That momentum appears to be sustained, with an 8% rise in the last hour. However, it’s $2.9 million 24-hour trading volume is split equally between buying and selling, indicating some current profit-taking could stabilize the price in the short term.
Source: DEXScreener
Kamala Horris’s future in the mid-to-long term is far from certain. Recent events have put Trump and the Republicans as the firm favorites to win the election
