Memecoins
Will Biden Step Down? These Biden Replacement Memecoins Are Booming
Amid speculation about Joe Biden’s future in the 2024 presidential race, memecoins tied to potential successors like Kamala Harris have surged, in contrast to the volatile trajectories of Biden-inspired “Joe Boden” and “MAGA” coins.
As the United States enters election season, it is becoming clear that both campaigns are using crypto funds and conversions much more than in previous years.
According to recent data reportsThere is speculation that Biden is considering his future in the 2024 race, leading traders at Polymarket to raise the odds of the Democrat pulling out to nearly 80% on Wednesday, up from 55% earlier.
The sudden increase follows a week of volatility Polymarket The “Is Biden dropping out of the presidential race?” market, which attracted nearly $10 million in bets. Before last week’s debate with Donald Trump, the odds of answering the same question were 20%.
The White House has denied reports that Biden is considering stepping down.
Memecoins
Memecoins associated with Joe Biden and Donald Trump have has experienced significant fluctuations in recent months. But these recent reports about Biden’s health have caused a surge in memecoins for his potential successors.
Joe Boden (BODEN) The piece has had a rather difficult six months. BODEN climbed to nearly $0.80 in April before dropping to a current price of $0.035. This represents a drop of over 95% in value from all-time highs.
The MAGA (ASSET) has seen similar volatility. It hit an all-time high of $17.37 in June before falling to a current price of $5.35.
Biden’s replacement memecoins
Over the past 24 hours, memecoins inspired by political figures who could replace Joe Biden, such as “Kamala Coin” (inspired by Vice President Kamala Harris) and “Buttigieg Bucks” (inspired by Pete Buttigieg), have seen their market value skyrocket.
Kamala coin (KAMA) has increased by more than 110% in the last day.
According to data from CoinGecko, another memecoin, “Gabin Noosum” (NOOSUM), is up 15% in the past 24 hours and a coin inspired by independent presidential candidate Robert F. Kennedy Jr., misspelled “Ruburt F Kenidy Jr” (KENIDY), is up 10% in the same period.