Political Meme Coins React to Biden News
Following President Biden’s decision to withdraw from the 2024 U.S. presidential election and endorse Vice President Kamala Harris, political meme coins experienced significant fluctuations in the cryptocurrency market. The Kamala Horris meme coin saw a remarkable surge of 110.4%, reaching a trading price of $0.02403 with a market cap reflecting its fully diluted valuation of $23,921,482. This surge indicates a growing investor confidence in Harris’s political prospects.
Polymarket Data Insights
Polymarket data reveals a 79% chance of Kamala Harris securing the Democratic nomination, supported by a substantial $18,908,527 bet on her success. Other potential nominees like Michelle Obama, Gavin Newsom, and Hillary Clinton trail behind with lower betting percentages.
Election Outlook and Potential Winners
Despite Biden’s withdrawal, he still maintains a residual presence with less than a 1% chance of success, backed by $43,852,015 in bets. In contrast, Ex-President Donald Trump leads as the favored candidate to win the presidency, holding a 65% chance with a $38,199,991 bet in his favor. Kamala Harris follows closely with a 31% chance, indicated by $20,334,256 in bets. Other Democratic contenders have slim chances of victory.
