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Author: Brayden Lindrea, CoinTelegraph; Compiled by: Deng Tong, Bitchain Vision
Memecoin, linked to U.S. President Joe Biden, his wife Jill and son Hunter, has fallen by more than 60% since Biden officially withdraws from the 2024 presidential campaign.
The Jeo Boden (BODEN) token associated with Joe Biden plunged 62% in less than two hours, while Kamala Horiz (KAMA) token is speculating on U.S. Vice President Kamala HarrisIt will soar in the case of replacing Biden as a Democratic candidate.
CoinGecko data shows that BODEN’s market value has evaporated by nearly $10 billion, and before the news broke, it was worth $16.2 billion.
BODEN Price changes over the past 24 hours.Source: CoinGecko
Memecoin related to Joe Biden’s family has been hit harder, including JILLBODEN, which plunged 68.5% due to the news, Hunter Biden’s Laptop (LAPTOP) fell 62%, according to CoinMarketCap.
Both JILLBODEN and LAPTOP’s market caps fell below $100,000.
Memecoin related to Kamala Harris soars
Meanwhile, Kamala Harris-related Kamala Harris memecoin rose 133% as experts believe the U.S. vice president is likely to become Biden’s Democratic candidate.
Although KAMA has fallen 35% since its 24-hour high, Harris now has an 80% chance to replace Biden, according to decentralized forecast market Polymarket.
KAMA price changes over the past 24 hours.Source: CoinGecko
Former U.S. First Lady Michelle Obama and Michigan Governor Gretchen Whitmer have much lower approval ratings than 5% and 4% respectively.
It is unclear how much support Harris has for the cryptocurrency industry—he has never publicly expressed his support or objection.
Biden did not state the reason for the withdrawal—instead, he claimed it was in the “best interest” of his party and country.
However, the current U.S. president intends to complete his current term.
Since Biden announced his withdrawal, the meme coin MAGA, which is about “Make America Great Again” themed, has risen 7%.
