Jeo Boden (BODEN) token saw a 62% drop in value within two hours of Biden’s exit from the 2024 race, reflecting market instability.
Kamala Horris (KAMA) token surged by 133% to an all time high as speculation grows that Kamala Harris might replace Biden as the Democratic nominee.
Since Biden’s withdrawal, MAGA memecoin linked to Donald Trump has increased by 7%, highlighting shifting investor sentiment in the crypto market.
President Joe Biden’s departure from the 2024 presidential candidacy has resulted in a significant drop in memecoins tied to him and his family. Notably, the Jeo Boden (BODEN) token, which had a market capitalization of $16.2 billion before the news, fell by 62% in only two hours, indicating considerable market volatility.
Along with BODEN, the Jill Boden (JILLBODEN) token dropped 68.5%, and Hunter Biden’s Laptop (LAPTOP) fell 62%. These significant losses indicate the broader impact of Biden’s political departure on related cryptocurrencies.
Kamala Horris Token Hits All Time High
The Kamala Horris (KAMA) token surged by 133% reaching its all time high of $0.02571 amid speculation that Vice President Kamala Harris might replace Biden as the Democratic nominee. This rise reflects growing investor optimism about Harris’s potential candidacy.
KAMA 24-Hr Price (Source: coingecko)
Although KAMA has since retraced 35% from its peak, it continues to attract attention. According to Polymarket, current market predictions give Harris an 80% chance of being the Democratic candidate. The shift in market sentiment towards KAMA highlights the evolving political dynamics.
Market Impact and Future Predictions
The drop in BODEN’s market cap has led to a notable reduction in its overall value, with nearly $10 billion erased from its market cap following Biden’s announcement. The decline of other Biden-linked tokens further emphasizes the impact of this political shift.
Meanwhile, the MAGA memecoin, tied to Republican candidate Donald Trump, has risen by 7% since Biden’s exit. This increase reflects a broader shift in the cryptocurrency market in response to the changing political landscape. With Biden completing his current term, the future of cryptocurrencies associated with him remains uncertain, while the rise of KAMA suggests a potential new focus in the market.
The cryptocurrency market is responding sharply to the political changes surrounding Joe Biden. As the political landscape continues to evolve, the future of these cryptocurrencies will likely remain volatile.
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