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Impact of Biden's Withdrawal on Meme Coin Market: Sharp Declines and Surges

Crypto PotatoJul 22, 2024
#DeFi
TRUMP-8.01%MAGA-3.13%BODEN-5.28%

Joe Biden's withdrawal from the 2024 US presidential race led to significant fluctuations in the cryptocurrency market, particularly affecting meme coins linked to political figures. The Biden-linked tokens, including Jeo $Boden ($BODEN), Jill $Boden (JILLBODEN), and Hunter $Boden (HUNTBODEN), experienced sharp declines, with $BODEN dropping by 60% and JILLBODEN by 82.5%. In contrast, the Kamala Harris-linked Kamala Horris ($KAMA) token surged by 135%, reaching an all-time high, amid speculation that Harris might replace Biden as the Democratic candidate. The market's reaction reflects the political uncertainty and the speculative nature of meme coins.

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