Kamala Harris’ ($KAMA) memecoin rises by over 250% as pressure for Biden’s retirement increase
Data retrieved from Coingecko confirmed the rise in $KAMA’s demand and price amid a push by some Democrats for President Joe Biden’s resignation. Independent blockchain researcher, Luke Martin, posted on X declaring Kamala Harris as the more likely replacement. Coingecko’s data suggested that $KAMA’s ‘all-time’ price had increased by 2,039%.
Also read: Polymarket bets surge on Biden dropping out of the race
The data on Coingecko’s ‘analytic platform’ showed that while the current $KAMA price was 20.31% lower than the all-time high, the memecoin’s price had soared by 709.5% over the past week. The data also revealed that $KAMA’s fully diluted volume (FVD) stood at $13.1 million.
$KAMA is leaving other PolitiFi memecoins in the dust
📈Kamala Horris $KAMA memecoin gained nearly 250% on Thursday as #JoeBiden faced mounting pressure to drop out of the presidential race after a poor debate against #DonaldTrump.
ℹ️ $KAMA has seen its market cap grow to nearly $11.9 million from $3.5 million at the time of the… pic.twitter.com/Ksie11TjTf
— Sad Creator (@SadCreatorTalks) July 4, 2024
Coingecko’s data indicated that KAMA’s real-time price had increased by 26.9%, while BODEN’s and TREMP’s prices had decreased by 24.9% and 20.2%, respectively. The ‘politiFi memecoin market’ had also experienced an overall drop of nearly 10%, despite KAMA’s excellent performance.
While $KAMA’s total market supply stands at 995,559,218, the data also revealed that BODEN’s total supply was 690,325,163, and the best-performing Trump-related memecoin (TREMP) had a total supply of 99,980,852.
The Wall Street Journal reported that Kamala Harris had gained popularity when some Democrats endorsed her after the Trump-Biden debate.
“After deep reflection over these past few days, I strongly believe that our best path forward is Kamala Harris…The Vice President would be able to make the case better and more clearly than President Biden ever could.”
Tim Ryan and Rep. James Clyburn’s endorsements of Kamala are among the reasons KAMA has outshone other political memecoins.
Polls support speculation behind Kamala Harris’ KAMA sudden gain
According to data from Polymarket, a crypto prediction platform, Biden’s ‘dropping out’ odds had risen by 45% since the debate. Polls by CNN on July 2 and CBS News on July 1 revealed more than 75% of U.S. voters and 50% of Democrat voters were against Biden’s re-election.
Also read: CryptoQuant: Optimism may prevail as holders hope for longer bull market
Another July 3 poll by Siena College and the New York Times confirmed that Trump’s support had increased by 5%, with 75% of the respondents stating that Biden was ‘too old for the top job.’
“It is completely legitimate to question if Biden’s debate performance is a ‘condition’ or just ‘an episode’.”
–Nancy Pelosi (Former House Speaker)
Kamala’s growing popularity was also proven in a poll by FiveThirtyEight. The poll gave Trump a 2.3% point lead as Democratic lawmakers, media outlets, and voters pressured Biden (81 years old) to drop out of the November elections
Four Democrats in the House of Representatives pointed out Biden’s poor polling results as the reason why a majority of the caucus called for Biden’s retirement from active politics.
Cryptopolitan reporting by Collins J. Okoth
