Cryptocurrency enthusiasts have reacted to the mounting speculations that U.S. President Joe Biden may withdraw from the presidential race by launching a token named KAMA, signifying that he might be succeeded by Democratic candidate and current Vice President Kamala Harris.
KAMA has shown strong volatility, surging by 125% today to $0.013, although it had surpassed $0.018 at its peak. The token has been soaring, mirroring the rumors that Kamala might have to step down following last week’s dismal debate between Biden and Donald Trump. Traders have pushed it up by 1000% over the past seven days.
KAMA Price – Coingecko
As the November 4th Election Day approaches, bettors on Polymarket also indicate Harris is quietly closing in on Biden.
With stakes exceeding $10.7 million, 68% of traders are betting on Biden’s withdrawal from the race. Meanwhile, gamblers are increasingly backing Harris to become the Democratic nominee, with her odds of winning the nomination at 39%, just behind Biden’s 41%.
Although Michelle Obama’s name has surfaced, only 6% of traders are placing their bets on the former First Lady.
However, in the broader presidential election, Harris’s chances are growing. Donald Trump leads with 61% of the $217 million wagered. According to Polymarket participants, Harris has only a 16% chance, while Biden trails at 13%.
Boden Pipeline
In the U.S. election year, politically themed meme coins are gaining popularity.
In recent weeks, the satirical image of Joe Biden, Jeo Boden, has plummeted in value. Today it fell by 25%, trading at $0.03. The token has dropped by 85% over the past month, almost surpassing $1.
Boden Website Screenshot
On the other side of the aisle, Donald Trump has also been swept up in the meme coin frenzy. His latest creation is the symbolic DJT, purportedly created by convicted felon Martin Shkreli and the former president’s son, Barron Trump.
A string of rumors ended when on-chain detective ZachXBT revealed Shkreli as the mastermind behind the token, earning a $150,000 bounty from the Arkham Intelligence Agency.
