Crypto Market Reacts to Biden’s Debate Fallout
If you’re a crypto enthusiast keeping tabs on political developments, you would have noticed the recent stirrings in the market following Joe Biden’s debate performance and subsequent rumors of him considering dropping out of the 2024 race. Here’s a breakdown of what’s been happening:
The Biden Dilemma
- Biden’s potential withdrawal from the 2024 re-election race after a lackluster debate has caused quite a stir.
- Despite initial reports hinting at his departure, Biden has reassured his supporters that he’s in it till the end.
Volatile Meme Coin Activity
- The news of Biden’s dilemma sent meme tokens like Jeo Boden (BODEN) into a tailspin, dropping significantly before rebounding following Biden’s assurance of staying put.
- Conversely, his opponent’s meme coin, Dolend Tremp (TREMP), has experienced milder fluctuations in the market.
Market Trends
- The market cap for BODEN is now at $28 million, while TREMP holds steady at $48 million.
- Political uncertainties have also led to odds favoring Vice President Kamala Harris as a potential Democratic nominee.
Rise of Kamala Horris Token
- Speculation around Harris’s potential nomination has propelled the Solana-based meme token, KAMA, to extraordinary gains in the market.
- Interestingly, several crypto industry leaders are leaning towards Trump as the preferred presidential candidate, signaling shifting allegiances in the political landscape.
Hot Take: Navigating Political Waves in the Crypto Market
As the political landscape continues to evolve, keeping a close eye on market trends and how they intersect with political events could provide valuable insights for informed crypto investing decisions.
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