Kamala Harris Memecoin Soars 250%
04 Jul, 2024 ● Coin news
A Kamala Harris-themed memecoin surged nearly 250% on Thursday as U.S. President Joe Biden faced increasing calls to exit the presidential race following a poor debate against Donald Trump.
Kamala Horris (KAMA) — a deliberately misspelled Solana token featuring a poorly drawn cartoon of the U.S. vice president — saw its market cap grow from $3.5 million at the time of the June 27 debate to nearly $11.9 million, according to Dex Screener.
It has since dropped from a peak market cap of $22.2 million earlier on July 3.
Harris is the leading choice to replace Biden if he withdraws his reelection bid, Reuters reported on July 3, citing seven senior sources within the Biden campaign, the White House, and the Democratic National Committee familiar with current discussions.
Meanwhile, Jeo Boden (BODEN) — another deliberately misspelled memecoin for President Biden — has plummeted over 22% in the past 24 hours and 73.4% over the past week, according to CoinGecko.
KAMA’s surge and BODEN’s decline followed the June 27 Biden-Trump debate, where political analysts widely noted Biden's poor performance, describing him as sounding raspy and occasionally losing his train of thought.
At 81, Biden is the oldest person to ever run for president and attributed his performance to a cold, over-preparation, and jet lag, despite being in the same time zone during the week leading up to the Atlanta-hosted debate.
Voters, media outlets, and Democratic lawmakers are urging Biden to step down, with growing concerns about his ability to defeat Trump in the November 5 election.
FiveThirtyEight polls show Trump with a 2.3 percentage point lead.
A July 3 poll by The New York Times and Siena College also indicates Trump leading and reveals that three-quarters of voters believe Biden is too old for the presidency, a five percentage point increase since the debate.
This follows a July 2 CNN poll in which three-quarters of U.S. voters stated that Democrats would have a better chance of winning the election with a candidate other than Biden.
Additionally, nearly half of Democratic Party voters in a July 1 CBS News poll think he shouldn’t be the party’s nominee.
On the crypto prediction platform Polymarket, gamblers have increased Biden’s odds of dropping out of the race to 64%, up from 19% before the debate.
Biden’s poor polling results come as at least four House Democrats told Axios on July 3 that Biden should step down, with one asserting that a “very large majority of the caucus shares this sentiment.”
Former House Speaker Nancy Pelosi also told MSNBC that it is “completely legitimate” to question whether Biden’s debate performance is a “condition” or just “an episode.”
On Wednesday, July 3, the Boston Globe editorial board joined The New York Times, The New Yorker, and The Atlanta Journal-Constitution in calling for Biden to step down and allow another candidate to challenge Trump.
According to reports from The Washington Post and The New York Times, citing sources close to Biden, the president has acknowledged that he may not be able to salvage his candidacy if he fails to demonstrate his fitness for office.
Despite the pressure, Biden has stated he is still committed to the job.
“Let me say this as clearly as I possibly can — as simply and straightforward as I can: I am running,” Biden said on a July 3 Zoom call with campaign staff, according to Politico. “No one’s pushing me out. I’m not leaving. I’m in this race to the end.”
Sources:
https://cointelegraph.com/news/kamala-harris-memecoin-surges-after-biden-debate
https://dexscreener.com/solana/jc9hsjtyjltxqqryhzt642lbncfpbofzbabrhgwv4nr
https://www.coingecko.com/en/coins/jeo-boden
https://www.washingtonpost.com/politics/2024/07/03/biden-debate-step-down-polling/
https://projects.fivethirtyeight.com/polls/president-general/2024/national/
https://www.nytimes.com/2024/07/03/us/politics/poll-debate-biden-trump.html
https://edition.cnn.com/2024/07/02/politics/cnn-poll-post-debate/index.html
https://www.cbsnews.com/news/poll-debate-should-biden-be-running-mental-abilities/
https://polymarket.com/event/will-biden-drop-out-of-presidential-race?tid=1720057406005
https://www.axios.com/2024/07/03/house-democrats-biden-jeffries-withdraw
https://x.com/MSNBC/status/1808174321640100247
https://www.washingtonpost.com/politics/2024/07/03/biden-crisis-debate-democrats/
https://www.newyorker.com/news/daily-comment/the-reckoning-of-joe-biden
https://www.ajc.com/opinion/its-time-for-biden-to-pass-the-torch/6PO45RNWDFH4FAUYGR56TPRMHM/
https://www.washingtonpost.com/politics/2024/07/03/biden-crisis-debate-democrats/
https://www.nytimes.com/2024/07/03/us/politics/biden-withdraw-election-debate.html
https://www.politico.com/news/2024/07/03/biden-no-ones-pushing-me-out-00166497
