{"id":630963,"date":"2024-07-23T03:30:09","date_gmt":"2024-07-23T03:30:09","guid":{"rendered":"https:\/\/ktsl888.com\/?p=630963"},"modified":"2024-07-22T15:20:52","modified_gmt":"2024-07-22T15:20:52","slug":"politifi-memecoin-shakeout-boden-plummets-55-while-kama-skyrockets-150-following-biden-dropout","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/politifi-memecoin-shakeout-boden-plummets-55-while-kama-skyrockets-150-following-biden-dropout\/","title":{"rendered":"PolitiFi Memecoin Shakeout: BODEN Plummets 55% While KAMA Skyrockets 150% Following Biden Dropout"},"content":{"rendered":"

The political landscape in the US has seen a significant development after President Joe Biden announced he was dropping out of the presidential rally. Following the news, the PolitiFi memecoin sector saw a major shift as Biden-themed tokens immediately plunged and Kamala Harris-inspired tokens soared.<\/p>\n

Related Reading: Bitcoin Price Retraces To $66,736: Can Bulls Stage A Recovery?<\/a><\/div>\n

Crypto Community Celebrates Biden\u2019s Candidature Withdrawal<\/h2>\n

The November elections have been a hot topic for the crypto industry. After years of a hostile and \u201coverreaching\u201d regulatory approach from the US government, politicians\u2019 stance on cryptocurrencies<\/a> has become a turning point for many voters.<\/p>\n

On Sunday afternoon, US President Joe Biden announced he was stepping down as a Presidential Candidate for the upcoming elections. Biden detailed that he decided to focus on fulfilling his duties as president for the remainder of his term.<\/p>\n

In another post<\/a>, he endorsed vice-president Kamala Harris as the candidate for the Democratic party:<\/p>\n

\n

\u201cToday I want to offer my full support and endorsement for Kamala to be the nominee of our party this year. Democrats -It\u2019s time to come together and beat Trump. Let\u2019s do this.\u201d<\/p>\n<\/blockquote>\n

Following the announcement, industry figures like Artur Hayes and Justin Sun reacted online. The Tron founder replied<\/a> to Biden\u2019s X post, stating, \u201cGoodbye Biden, crypto will last forever.\u201d<\/p>\n

Meanwhile, The BitMEX co-founder noted<\/a> that Trump\u2019s chances of winning would only increase if Harris is not the Democratic nominee. Hayes also said Trump will \u201csmoke her like a Cuban\u201d if she \u201cactually becomes the nominee.\u201d<\/p>\n

The crypto community expressed mixed opinions, with some users sharing a bearish sentiment. Some believe that Trump\u2019s chances of winning were clear against Biden but could significantly reduce depending on the Democratic nominee.<\/p>\n

On the contrary, others seem to believe that Biden\u2019s rejection of his nomination will be bullish for the crypto industry regardless of the nominee. Additionally, Polymarket reported that Republican candidate Donald Trump maintains a massive lead.<\/p>\n

\"memecoin\"
Presidential Election Winner prediction. Source: Polymarket on X<\/a><\/figcaption><\/figure>\n

Per the prediction market website, Trump has a 65% chance of winning the presidential election in November, with nearly $40 million bet in his favor.<\/p>\n

A Change In PolitiFi Memecoin Leadership<\/h2>\n

The PolitiFi memecoin sector saw a shakeout after the news. The price of Biden-inspired tokens started to drop immediately, with its leading token, Jeo Boden (BODEN), shredding<\/a> nearly 60% of its price.<\/p>\n

The memecoin went from trading at $0.025 to the $0.01 price range in half an hour. BODEN further plunged in the following hours, reaching the $0.0086 support zone. This performance represents a 65% and 73% decline in the last 24 hours and seven days.<\/p>\n

The current price represents a 99.2% drop from its April all-time high (ATH) when it traded at $1.04. Additionally, the token saw a 66% market capitalization reduction since the announcement, going from $17.5 million to $5.99 million.<\/p>\n

Nonetheless, Kamala Harris-inspired tokens surged<\/a> in the last 24 hours. Kamala Horris (KAMA) was the largest gainer among PolitiFi tokens in the past day. KAMA went from hovering between the $0.011-$0.019 level to the $0.025 price range in two hours, soaring 150%.<\/p>\n

The memecoin, launched in May, registers a 257% and 1,433% increase in the weekly and monthly timeframes. As of this writing, KAMA has retraced above the $0.015 mark, currently trading at $0.016.<\/p>\n

Related Reading: Bitcoin Price Regains $68K: Can Bulls Push to $70K Next?<\/a><\/div>\n

Trump-inspired tokens<\/a> also saw a significant upswing after Biden\u2019s dropout. MAGA (TRUMP) rose 12% after the news, momentarily reaching the $7.75 resistance level. Meanwhile, MAGA Hat (MAGA), Super Trump (STRUMP), and Donald Tremp (TREMP) rose 13%, 33%, and 25%, respectively.<\/p>\n

\"Memecoin,
BODEN’s performance in the three-day chart. Source: BODENUSDT on TradingView<\/a><\/figcaption><\/figure>\n
Featured Image from Unsplash.com, Chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

The political landscape in the US has seen a significant development after President Joe Biden announced he was dropping out of the presidential rally. Following the news, the PolitiFi memecoin sector saw a major shift as Biden-themed tokens immediately plunged and Kamala Harris-inspired tokens soared. Related Reading: Bitcoin Price Retraces To $66,736: Can Bulls Stage A Recovery? Crypto Community Celebrates Biden\u2019s Candidature Withdrawal The November elections have been a hot topic for the crypto industry. After years of a hostile and \u201coverreaching\u201d regulatory approach from the US government, politicians\u2019 stance on cryptocurrencies has become a turning point for many voters. On Sunday afternoon, US President Joe Biden announced he was stepping down as a Presidential Candidate for the upcoming elections. Biden detailed that he decided to focus on fulfilling his duties as president for the remainder of his term. In another post, he endorsed vice-president Kamala Harris as the candidate for the Democratic party: \u201cToday I want to offer my full support and endorsement for Kamala to be the nominee of our party this year. Democrats -It\u2019s time to come together and beat Trump. Let\u2019s do this.\u201d Following the announcement, industry figures like Artur Hayes and Justin Sun reacted online. The Tron founder replied to Biden\u2019s X post, stating, \u201cGoodbye Biden, crypto will last forever.\u201d Meanwhile, The BitMEX co-founder noted that Trump\u2019s chances of winning would only increase if Harris is not the Democratic nominee. Hayes also said Trump will \u201csmoke her like a Cuban\u201d if she \u201cactually becomes the nominee.\u201d The crypto community expressed mixed opinions, with some users sharing a bearish sentiment. Some believe that Trump\u2019s chances of winning were clear against Biden but could significantly reduce depending on the Democratic nominee. On the contrary, others seem to believe that Biden\u2019s rejection of his nomination will be bullish for the crypto industry regardless of the nominee. Additionally, Polymarket reported that Republican candidate Donald Trump maintains a massive lead. Per the prediction market website, Trump has a 65% chance of winning the presidential election in November, with nearly $40 million bet in his favor. A Change In PolitiFi Memecoin Leadership The PolitiFi memecoin sector saw a shakeout after the news. The price of Biden-inspired tokens started to drop immediately, with its leading token, Jeo Boden (BODEN), shredding nearly 60% of its price. The memecoin went from trading at $0.025 to the $0.01 price range in half an hour. BODEN further plunged in the following hours, reaching the $0.0086 support zone. This performance represents a 65% and 73% decline in the last 24 hours and seven days. The current price represents a 99.2% drop from its April all-time high (ATH) when it traded at $1.04. Additionally, the token saw a 66% market capitalization reduction since the announcement, going from $17.5 million to $5.99 million. Nonetheless, Kamala Harris-inspired tokens surged in the last 24 hours. Kamala Horris (KAMA) was the largest gainer among PolitiFi tokens in the past day. KAMA went from hovering between the $0.011-$0.019 level to the $0.025 price range in two hours, soaring 150%. The memecoin, launched in May, registers a 257% and 1,433% increase in the weekly and monthly timeframes. As of this writing, KAMA has retraced above the $0.015 mark, currently trading at $0.016. Related Reading: Bitcoin Price Regains $68K: Can Bulls Push to $70K Next? Trump-inspired tokens also saw a significant upswing after Biden\u2019s dropout. MAGA (TRUMP) rose 12% after the news, momentarily reaching the $7.75 resistance level. Meanwhile, MAGA Hat (MAGA), Super Trump (STRUMP), and Donald Tremp (TREMP) rose 13%, 33%, and 25%, respectively. Featured Image from Unsplash.com, Chart from TradingView.com<\/p>\n","protected":false},"author":614,"featured_media":630964,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[92168,92613,92795,8480,92263,83574,92796,92697,92695,9848,6369,89161],"class_list":["post-630963","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-boden","tag-bodenusdt","tag-donald-tremp","tag-donald-trump","tag-jeo-boden","tag-joe-biden","tag-kama","tag-kamala-harris","tag-kamala-horris-kama","tag-trump","tag-us-president-elections","tag-us-presidential-candidates"],"acf":[],"yoast_head":"\nPolitiFi Memecoin Shakeout: BODEN Drops 55% As KAMA Soars<\/title>\n<meta name=\"description\" content=\"The PolitiFi memecoin sector\u2019s trading activity surged on Sunday after Biden\u2019s 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Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school\u2019s marching band. She also has a passion for learning new languages and cultures, having set the goal to learn another six languages \u00ad\u2013 currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats \u2013hers or stray. 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In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school\u2019s marching band. She also has a passion for learning new languages and cultures, having set the goal to learn another six languages \u00ad\u2013 currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats \u2013hers or stray. 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