Vice President Kamala Harris has secured the Democratic nomination for the Presidential election. This led to unprecedented growth for the Kamala Horris (KAMA) meme coin. Thus, with the change in the US political landscape, the degeners have found their new favorite meme coin.
Kamala Harris secures nomination, meme coin skyrockets!
As you have been following on Kriptokoin.com, US Vice President Kamala Harris announced early Tuesday that she has won the support she needs to become the Democratic Party’s nominee. “Over the next few months, I will be traveling across the country talking to Americans about everything on the agenda. I intend to unite our party and our nation and defeat Donald Trump,” Harris said.
Following this development, the KAMA meme coin surged more than 50% in one day. It is currently trading at $0.02572, close to its all-time high with a market capitalization of more than $20 million. According to the latest data, this marks a staggering 666% increase since the beginning of July, reflecting the surge in speculative interest.
The rise of Kamala Harris and the ignition of KAMA!
The timing of KAMA’s rise coincides with President Joe Biden‘s withdrawal from the 2024 election race. Following this announcement, rumors began to circulate about her health due to her absence from the public eye and her positive Covid-19 diagnosis. These developments led to widespread speculation on social media platforms, especially on X, where the hashtag “where is Joe” was trending globally.
Moreover, Harris’ rise as a Democratic candidate seems to have sparked interest from the crypto community. Crypto players quickly shifted their investments to KAMA. This shift is mostly a speculative bet on Harris’ political future. Furthermore, centralized exchanges like HTX and Poloniex announced the listing of KAMA. In addition, the recent Democratic fundraising success, which raised $81 million in just 24 hours, has significantly boosted trader sentiment.
Trump is the clear frontrunner in betting on the candidates!
Despite these developments, Harris has yet to comment on her approach to crypto. Meanwhile, her likely opponent, Republican Donald Trump, has publicly supported the crypto market. He will also take part in the upcoming Bitcoin 2024 conference. Currently, political betting markets give Harris a 32% chance of winning the US Presidential election. Many see this as a benchmark for betting on the KAMA meme coin.
However, investors should be careful. Because meme coins like KAMA are notoriously volatile and can be heavily influenced by political events.
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