Blockchain
KAMA Meme Coin Hits All-Time High After Joe Biden Exit
Cryptocurrency traders are once again betting on the very serious issue of presidential politics with some very ridiculous meme coins, including one for Vice President Kamala Harris, which more than doubled in price on Sunday.
FUCK hit an all-time high of 2.4 cents in the minutes after President Joe Biden announced he was dropping out of the re-election campaign. With a market cap of $24 million, KAMA is now nearly four times larger than Biden-inspired coin BODEN, once the kingmaker cryptocurrency of the so-called PolitiFi. BODEN fell nearly 50% after Biden’s announcement.
The political shakeup has prompted traders to create a wave of new tokens mocking Harris and Biden on the meme coin launch platform Pump.funIf history is any guide, most of those tokens will likely collapse in value as buyers and sellers play a game of order book chicken atop the Solana (SOL) blockchain, where most meme coins are traded.