In the wake of the assassination attempt on former President Donald Trump at a campaign rally in Pennsylvania, GeoBoden announced that itBoden)and Kamala Horace(Likes) Meme coins have seen a huge drop in price.
Tokens featuring the names of President Joe Biden and Vice President Kamala Harris have trended in the opposite direction in price compared to Trump meme coins.
Boden Bitcoin has fallen more than 18% from its all-time high following news of Trump’s shooting. According to CoinGecko data, the token’s price has dropped from around $0.12 to $0.03 as investors fled Biden-themed assets.
The political finance (PoliFi) sector has also seen significant growth. dropwith the CoinStats PoliFi Index down 11% in the last 24 hours. This decline is in line with the approaching elections in the United States.
PoliFi traders and investors have shifted their focus to platforms like Polymarket, where “yes” shares in the contract asking whether Biden will drop out of the race have exceeded 60%.
Over the past 14 days, BODEN has dropped by over 35%. This sharp drop in BODEN price reflects the growing uncertainty surrounding Biden’s future as the Democratic nominee for the 2024 presidential election.
Election Tension: Kamala Horris Coin (KAMA) Drops 27%
Kama Meme Coin surged in value after Biden’s lackluster debate performance. It has seen a 27% drop in the past 24 hours and a 36% drop over the past seven days.
Fundamental analysis shows that the price of KAMA has been affected by growing doubts about President Biden’s ability to be re-elected and the increasing chances of Vice President Kamala Harris becoming the Democratic Party’s nominee.
However, attention has now shifted to the TRUMP token, which has a larger market cap and higher trading volume than KAMA.
At the time of writing, Kamala Horris is trading at $0.0056, with a 24-hour trading volume of $1.4 million.
The fluctuations in BODEN and KAMA tokens highlight the close correlation between political events and the performance of meme coins associated with specific candidates or political figures.
As the election approaches, the price trajectory of these tokens is likely to continue to reflect the changing political landscape.