A new meme coin, KAMA, themed around U.S. Vice President Kamala Harris, is making headlines. This surge is driven by Harris’s role as the likely Democratic nominee for the 2024 presidential race, with bookmakers giving her a 93% chance of being the Democratic Presidential candidate.
Is it worth investing in? Here’s what you should know.
Since President Joe Biden’s sudden exit from the race, the KAMA meme coin has seen an impressive surge, climbing over 100% overnight to reach $0.03707. This boost represents a staggering 1226.74% increase over the past week and an extraordinary 2993% gain over the past month.
The political vote of confidence
The upcoming U.S. elections have sparked a wave of surging meme coins in the crypto market. Several coins themed around Donald Trump and Joe Biden have performed exceptionally well. After a failed assassination attempt, MAGA meme coins skyrocketed, significantly increasing their market cap. Conversely, Biden-themed coins saw a steep decline after he withdrew from the presidential race.
These fluctuations in cryptocurrency prices clearly show how political changes can impact digital currencies.
The excitement around the KAMA meme token isn’t just about politics. It’s also about growing market confidence. Kamala Harris’s 93% confidence rating is boosting the price of this meme coin.
At the time of writing, the KAMA meme token is trading at $0.03062, with a market cap of $30.86 million. Just 12 hours ago, at its peak, the token had a market cap of $39.75 million.
While Donald Trump is known to support crypto and will appear at the Bitcoin conference in 2024, Kamala Harris has yet to reveal her stance on the crypto industry. According to sources, she is familiar with the industry and its technology but has chosen not to speak about it publicly. It is possible that in the coming weeks, either an expert from the Democratic Party or Harris herself will address the industry.
The crypto world is eagerly waiting to see how the market will react when that happens.
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