Shortly after the debate against Donald Trump, many pointed out that President Joe Biden should give up his re-election. Data from Polymarket, a prediction market, indicated that the chance of this happening was just 20% last week, but today the probability reaches 60%
Biden
The Jeo Boden (BODEN), a memecoin that alludes to the American president Joe Biden, collapsed this Wednesday (3). At the time of writing, the cryptocurrency is down by 31.7% in the last 24 hours.
In relation to the last 7 days, the drop reaches 76.8%, reflecting the president's fiasco in last Thursday's debate (27) against his rival Donald Trump.
Memecoin Jeo Boden (BODEN) plummets after Joe Biden's debate against Donald Trump. Source: CoinMarketCap.
Commenting on his poor performance in the debate, Biden took the blame this Wednesday (3).
“I didn’t listen to my team… and I almost fell asleep on stage,” Biden said, adding that “this is not an excuse, but an explanation.” According to the president, he traveled to several countries before the event, which left him tired.
Joe Biden could be replaced and the president's memecoin collapses
Shortly after the debate against Donald Trump, many pointed out that President Joe Biden should give up his re-election. Data from Polymarket, a prediction market, indicated that the chance of this happening was just 20% last week, but today the probability reaches 60%.
One of the biggest names would be Michelle Obama, wife of former President Barack Obama. However, Kamala Harris, the current US vice president, is emerging as the top choice.
At Polymarket, the politician already appears to have more chances of victory than Joe Biden himself. Donald Trump appears in the lead with 61%, according to bets that have already accumulated a volume of R$ 1.2 billion (US$ 216 million).
The market is betting that Kamala Harris has a better chance than Biden in the US presidential elections, being the main name of the Democratic Party. Source: Polymarket.
As a result, the memecoin Jeo Boden (BODEN) operates with a daily drop of 31.7%, as if Biden was ready to be forgotten by this degenerate market.
Kamala Harris memecoins appear on the market
As the memecoin market does not stop, several cryptocurrencies linked to Kamala Harris are operating at a sharp increase this Wednesday (3). Earnings for the majors range from 193% to 536%.
Memecoins linked to Kamala Harris, who could replace Joe Biden in the American presidential race, are operating at a high. Source: Dextools.
Despite the jokes, cryptocurrencies are playing a fundamental role in the American elections. This is because Donald Trump has shown himself to be a defender of the sector, contrary to what the current Biden government has done.
Speculators try to profit from all this movement, whether in the prediction market, memecoins or in a more conservative way. As an example, Standard Chartered bank believes that Bitcoin could reach $150,000 with a Trump victory.
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