Memecoins
Biden-inspired BODEN coin continues to fall, but Harris and Newsom coins surge on candidate speculation
After President Joe Biden COVID-19 diagnosis and coins inspired by the president’s potential successors have surged, while Biden-themed coins Jeo Boden BODEN/USD is significantly down.
What happened: On July 17, President Biden, 81, tested positive He was diagnosed with COVID-19 and has only had mild symptoms. He announced that he will continue to fulfill his responsibilities while quarantining at his Delaware residence. It is worth noting that the news of his illness comes after he said he would withdraw from the 2024 race if he were to contract a serious illness.
Memecoins such as Gabin Noosum NOOSUM/USD and Kamala Horris KAMA/USD, inspired by potential Biden replacements, has increased by 586% and 241% respectively since July 17. However, meme currency BODEN has seen a 30% decline as President Biden’s chances of dropping out of the race are based on Polymarket data has climbed to 80%compared to 33% two days ago) as of Thursday.
Read also : Solana up 7%, could hit 50% of Ethereum’s valuation as ‘most liquid election proxy in crypto,’ trader says
Why is this important: The recent surge in meme coins inspired by Biden’s potential successors comes amid growing speculation about the Democratic candidate for the 2024 presidential election.
As political tensions rise ahead of the election, Polymarket has revealed changing odds regarding Biden’s potential withdrawal from the race. Mark Halperin It was also noted that Biden plans to announce his withdrawal from the nomination as early as Sunday.
These reports are based on observations from several prominent Democrats and close allies urging Biden to consider resigning.
And after: The influence of Bitcoin as an Institutional Asset Class should be explored in depth in Benzinga’s next project The Future of Digital Assets event on November 19.
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