As the 2024 presidential election draws closer, the world of cryptocurrency is playing an increasingly significant role in the campaigns of potential candidates. Speculation surrounding Joe Biden’s future in the race has led to a surge in memecoins associated with his potential successors, such as Kamala Harris.
While memecoins like Joe Boden and MAGA, inspired by Biden and Donald Trump respectively, have experienced extreme volatility in recent months, the possibility of Biden dropping out has caused a shift in the market. Reports of Biden considering his future in the race have led traders on Polymarket to increase the odds of him dropping out to nearly 80%, up from 55% just a few days ago.
Despite the White House denying these reports, the uncertainty has led to a significant increase in the value of memecoins tied to potential replacement candidates. Memecoins like Kamala Coin and Buttigieg Bucks, inspired by Vice President Kamala Harris and Pete Buttigieg, have seen a surge in their market value in the past 24 hours.
Kamala Coin, in particular, has increased by over 110% in the last day, indicating a growing interest in the potential candidacy of Kamala Harris. Additionally, memecoins like Gabin Noosum and Ruburt F Kenidy Jr, inspired by other potential candidates like Robert F. Kennedy Jr., have also seen gains in their market value.
As the political landscape continues to evolve, it is clear that the world of cryptocurrency will play a crucial role in shaping the upcoming election. The surge in memecoins tied to potential successors to Joe Biden is just one example of how digital assets are influencing the political sphere. Investors and traders alike will be keeping a close eye on these developments as the race for the 2024 presidency heats up.