Meme coins themed around Harris, who is seen as the preferred candidate to succeed Biden, have experienced a surge

PANews reported on July 4 that according to Cointelegraph, as Joe Biden performed poorly in the debate with Donald Trump and faced increasing pressure to withdraw from the presidential race, the Kamala Harris-themed Meme coin has risen by nearly 250% since last Thursday.

Kamala Horris (KAMA) has grown from $3.5 million at the time of the June 27 debate to nearly $11.9 million, according to Dex Screener, though its market cap has fallen from its peak of $22.2 million on July 3. KAMA’s price peaked at over 2 cents on July 3 and is currently trading at just over 1 cent. The token is a deliberately misspelled Solana token that is marketed with a poorly drawn caricature of the U.S. vice president.

Reuters reported on July 3, citing seven senior sources from the Biden campaign, the White House and the Democratic National Committee, that Harris is the top choice to succeed Biden if he abandons his re-election bid. Meanwhile, Jeo Boden (BODEN), a meme coin with a similar misspelling of President Biden, has fallen more than 22% in the past day and 73.4% this week, according to CoinGecko data.