Due to speculation about Joe Biden’s future in the 2024 presidential race, meme coins linked to potential successors like Kamala Harris have surged in value, contrasting with the volatile trajectories of Biden-inspired “Joe Budden” and “MAGA” coins.
As the US enters the election season, it has become clear that both campaigns are using cryptocurrency and cryptocurrency transfers much more than in previous years.
According to the latest news ReportsThere is speculation that Biden is considering his future in the 2024 race, prompting traders at Polymarket to raise the odds of the Democrat dropping out to nearly 80% on Wednesday, up from 55% earlier.
This sudden rise comes after a week of volatility in Polymarket “Will Biden drop out of the presidential race?” is a market that has attracted nearly $10 million in bets. Before last week’s debate with Donald Trump, the odds on the same question were 20%.
The White House has denied all reports that Biden is considering withdrawing.
Memcoins
The memecoins associated with Joe Biden and Donald Trump have seen significant volatility in recent months. But these recent reports about Biden’s health have caused a huge surge in memecoins for his potential successors.
Joe Boden (BODEN) has had a rough six months. BODEN surged to a high of nearly $0.80 in April before falling to its current price of $0.035. That’s a drop of over 95% from its all-time high.
MAGA (TRUMP) has seen similar volatility. It hit an all-time high of $17.37 in June before falling to its current price of $5.35.
Memecoin Biden’s Alternative
Over the past 24 hours, the market cap of meme coins inspired by political figures who could replace Joe Biden, such as “Kamala Coin” (inspired by Vice President Kamala Harris) and “Buttigieg Bucks” (inspired by Pete Buttigieg), has surged.
Kamala coin (Likes) is up more than 110% in the last day.
According to CoinGecko data, another memecoin, Gabin Noosum (NOOSUM), has surged 15% in the past 24 hours, while a coin inspired by independent presidential candidate Robert F. Kennedy Jr., misspelled as “Robert F. Kennedy Jr.” (KENIDY), has gained 10% in the same period.
