- PolitiFi meme coins based on President Biden experienced heavy downtrends following his withdrawal statement.
- Other tokens themed after Democratic party members experienced sharp declines, reflecting market sentiment.
- KAMALA HORRIS and OBEMA tokens rally as speculations surrounding a new Democrat nominee flood X.
PolitiFi meme coins based on President Biden experienced heavy decline in the past few days. Meanwhile, tokens based on Vice President Kamala Harris rallied as she gained support to replace Biden in the presidential elections.
Meme tokens KAMA and OBEMA surge as Democrats await new presidential nominee
PolitiFi meme coins have been in murky waters following President Joe Biden's withdrawal from the upcoming presidential elections in November. The president stepped down from the race on Sunday, leaving the party without a presidential candidate.
Biden's withdrawal has impacted several meme coins modeled after the current president. These tokens began to experience heavy declines, with the most popular being BODEN, JILL BODEN, and HUNTBODEN. These three tokens have dropped 16%, 72% and 15% respectively in the last 24 hours.
The massive selling pressure on Biden-themed meme tokens has sent a wave of setbacks across the political meme coin market, especially among Democrat-based coins. Many tokens themed after democratic party members have declined over the past 24 hours. These include the MAJOR token, based on Biden's dog, and NOOSUM, based on California governor Gavin Newsom, which are experiencing declines of 27% and 36%, respectively.
Meanwhile, meme tokens based on Vice President Kamala Harris have shot up in the last 24 hours. The KAMALA HORRIS token is currently up 29%, stretching its weekly gains to 595%. This follows speculations that Vice President Kamala Harris may be the favorite to replace Joe Biden in the upcoming elections, as she is allegedly already gathering support from party members.
However, a handful of political figures have stirred further speculation about former First Lady Michelle Obama's potential presidential run.
With the news of her entry flying around, the OBEMA token based on Barack Obama skyrocketed 196% in the past week. This also follows a statement by Republican Senator Kelvin Cramer in New York Magazine stating that "Michelle Obama would probably be the one person that could step in and keep the party united."
The current mix of sentiment across the PolitiFi meme coin market is a common occurrence. These tokens often signify the sentiment of crypto investors towards political candidates.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
XRP Price Prediction: Bearish technicals, on-chain indicators signal 68% potential crash
XRP faces increasing bearish sentiment from macro, micro and fundamental factors in April. Weak on-chain indicators ranging from network growth, total supply and active addresses reinforce an impending crash.
Bitcoin Price Forecast: Tariff volatility sweeps over $200 billion from crypto markets
Bitcoin price hovers around $83,000 on Thursday after it failed to close above the $85,000 resistance level the previous day. Volatility fueled by Trump’s tariffs swept $200 billion from total market capitalization, liquidating over $178 million in BTC.
SOL is the winner as Solana chain turns into battleground for meme coin launchpad and DEX
Solana (SOL) gains nearly 2% in the last 24 hours and trades at 118.28 at the time of writing on Thursday. A Decentralized Exchange (DEX) and a meme coin launchpad built on the Solana blockchain have waged a war for users and compete for the trade volume on the chain.
Shibarium, built for the Shiba Inu blockchain, reaches 1 billion in transactions in 18 months after its launch
Shibarium, a Layer-2 blockchain for the Shiba Inu ecosystem, reaches 1 billion transactions 18 months after its launch. This milestone reflects growing adoption and Shibarium’s robust performance.
Bitcoin: BTC remains calm before a storm
Bitcoin's price has been consolidating between $85,000 and $88,000 this week. A K33 report explains how the markets are relatively calm and shaping up for volatility as traders absorb the tariff announcements. PlanB’s S2F model shows that Bitcoin looks extremely undervalued compared to Gold and the housing market.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.