Impact of Kamala Harris’ VP Pick on Cryptocurrency Prices 📈🪙
As reports circulated early Tuesday that Minnesota Governor Tim Walz had been chosen as Kamala Harris’ running mate, meme coins related to Walz saw significant price fluctuations, experiencing dramatic gains that were short-lived.
Market Reaction to the VP Pick
- The “Tem Walz” (WALZ) meme coin on Solana surged, reaching a market cap of nearly $1 million, only to plummet to $254,000.
- Another Ethereum meme coin named “Tim Walz” (WALZ) also saw a spike, hitting a market cap of $707,000 before dropping to $303,000.
- Speculation surrounding Harris’ VP pick impacted meme coin prices and betting activity on crypto prediction platforms.
Volatility in Prices
- Suspicion arose when images of black SUVs leaving Walz’s residence circulated on Twitter, causing the Solana WALZ token to surge by 173% in just 18 minutes.
- Subsequently, confirmation of Walz as Harris’ running mate led to another 31% increase in the WALZ token’s market cap.
- Conversely, meme tokens linked to other potential VP picks, like “Josh Shapero” (SHAPERO), saw sharp declines, losing significant value in a short span of time.
Creator’s Response and Market Dynamics
- The creator of Tem Walz expressed approval of Harris’ pick and shared intent to vote accordingly, reflecting sentiment within the meme coin community.
- Amid the market frenzy, allegations of intentional fear-mongering to manipulate prices surfaced in the Telegram channel of the SHAPERO coin.
- News confirming Walz as the VP pick further influenced market behavior, leading to dynamic price movements and investor reactions.
Hot Take 🔥
In conclusion, the VP pick of Tim Walz by Kamala Harris elicited a rapid and volatile response in the cryptocurrency market, with meme coins fluctuating significantly in value. The influence of political events on digital asset prices remains a fascinating aspect of the crypto landscape, reflecting the interconnected nature of global developments and financial markets.
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