Crypto
traders
are
once
again
betting
on
the
very
serious
business
of
presidential
politics
via
very
silly
meme
coins,
including
one
for
Vice
President
Kamala
Harris
that
more
than
doubled
in
price
Sunday.
KAMA
hit
an
all-time
high
of
2.4
cents
in
the
minutes
following
President
Joe
Biden’s
announcement
that
he
was
dropping
his
re-election
campaign.
With
a
market
cap
of
$24
million,
KAMA
is
now
nearly
four
times
as
large
as
the
Biden-inspired
coin
BODEN,
once
the
kingmaker
crypto
of
so-called
PolitiFi.
BODEN
fell
by
nearly
50%
following
Biden’s
announcement.
The
political
shake-up
prompted
traders
to
create
a
wave
of
new
tokens
lampooning
Harris
and
Biden
on
the
meme
coin
launchpad
Pump.fun.
If
history
is
any
guide,
most
of
those
tokens
will
likely
crater
in
value
as
buyers
and
sellers
play
a
game
of
order
book
chicken
atop
the
Solana
(SOL)
blockchain,
where
most
meme
coins
trade.
Biden
endorsed
Harris’
campaign
for
president.
So
did
former
President
Bill
Clinton,
former
Secretary
of
State
Hillary
Clinton
and
crypto-critic
Sen.
Elizabeth
Warren.
“I
am
honored
to
have
the
President’s
endorsement
and
my
intention
is
to
earn
and
win
this
nomination,”
Harris
said
in
a
statement.
“I
will
do
everything
in
my
power
to
unite
the
Democratic
Party
–
and
unite
our
nation
–
to
defeat
Donald
Trump
and
his
extreme
Project
2025
agenda.”
UPDATE
(July
21,
2024,
20:33
UTC):
Adds
Kamala
Harris’
statement
and
endorsements.