Kamala Harris’ ($KAMA) memecoin rises by over 250% as pressure for Biden’s retirement increase

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  • Kamala-themed memecoin,$KAMA, skyrocketed in the past 24 hours to reach a market cap of ~$12 million.
  • According to Coingecko, $KAMA’s price jumped 250% before settling at the current $0.01276.
  • Compared to Trump-related memecoins and Biden-themed BODEN, $KAMA has surged significantly in price over the last 7 days.

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

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 

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

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Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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