Kamala Horris (KAMA) Surges 1600% Amid Speculation Of Biden Exiting Presidential Race

In a recent report by Reuters, speculation has emerged regarding the potential for President Joe Biden withdrawing from the race for the White House, resulting in a surge in interest across the newly created Kamala Horris (KAMA) meme coin. 

These developments have sparked intrigue in political circles and garnered attention throughout the cryptocurrency industry.

Biden’s Successor? 

According to seven senior sources from the Biden campaign, the White House, and the Democratic National Committee, discussions are underway about Vice President Kamala Harris potentially replacing President Biden because the Democratic nominee if he chooses to not pursue reelection. 

This scenario would involve Harris inheriting the funds and campaign infrastructure established by the Biden campaign. Along with her high name recognition and favorable polling amongst Democrats, Harris is taken into account a powerful alternative candidate.

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The cryptocurrency market has also reacted to those speculations, with traders on the crypto-based prediction platform Polymarket witnessing a big increase within the odds of VP Harris becoming the Democratic nominee. 

VP Harris’ possibilities, in keeping with crypto investors. Source: Polymarket

The trading of stocks indicating a “yes” answer to Harris receiving the nomination jumped from as high as 43%, approaching Biden’s numbers, which amount to a forty five% probability, in keeping with voters, of completing the race to the White House.

Kamala Horris Skyrockets Amidst Political Buzz

CoinGecko data further reveals the impact of those developments on the meme coin market. The Kamala Horris meme coin experienced an astronomical surge, soaring over 174% up to now 24 hours and an astonishing 1659% over the past two weeks. 

Its trading price peaked at $0.01561, reflecting the growing interest and uncertainty surrounding the potential shift within the upcoming presidential election.

Kamala HorrisKAMA price performance over the past month. Source: CoinGecko

In contrast, CoinGecko shows that Donald Trump’s parody meme coin, Doland Tremp (TREMP), faced a decline of over 43% up to now seven days, currently trading at $0.4868. Nevertheless, TREMP still boasts a considerable market cap of $48 million, surpassing other political meme coins within the crypto space. 

Conversely, President Biden’s parody meme coin, Jeo Boden (BODEN), witnessed a surge of over 22% up to now hour alone, demonstrating the frenzy amongst crypto investors in response to the evolving political landscape. 

Nevertheless, BODEN experienced a 71% price drop up to now week, with its current trading price at $0.04533.

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Ultimately, these developments hold implications for the political arena and the broader crypto industry. Former President Trump’s pro-crypto stance and emphasis on innovation have been juxtaposed with the regulatory challenges faced through the Biden administration. 

The dearth of a transparent regulatory framework and enforcement actions brought by the US Securities and Exchange Commission (SEC) over the past years has raised concerns amongst industry participants, who argue that such actions may hinder growth and innovation within the nascent crypto space.

Kamala Horris The every day chart shows that BTC’s price is trending downward. Source: BTCUSD on TradingView.com

Meanwhile, Bitcoin (BTC), the leading cryptocurrency available in the market, continues to exert its influence on the sentiment of top cryptocurrencies. Over the past 24 hours, BTC has experienced a modest decline of three.4%, bringing its current value to $60,220.

Featured image from DALL-E, chart from TradingView.com 

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