US President Joe Biden announced that he would not run for a second term, causing the price of memecoins associated with him to plummet. Biden supported Vice President Kamala Harris as the 2024 Democratic presidential candidate, and the price of Harriscoin doubled. The price of tokens associated with former President Donald Trump rose. Biden called on the Democratic Party to unite against Trump, and Harris said she would do her best to fight for the nomination and defeat Trump. The 2024 presidential election will be held in November.

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