Vice President Kamala Harris’ KAMA meme coin surges as Biden drops out

The Vice President Kamala Harris-inspired meme coin, KAMA, saw its price more than double on Sunday following President Joe Biden's announcement that he would not seek re-election. KAMA hit an all-time high of 2.4 cents, bringing its market cap to $24 million, nearly four times larger than the Biden-themed BODEN coin.

KAMA price on July 22 Source: tradingview

BODEN Coin Falls

BODEN, once a leading crypto in the PolitiFi space, fell nearly 50% after Biden's announcement. This political shift has led to a flurry of new meme tokens on the Pump.fun platform, poking fun at both Harris and Biden. These tokens are mostly traded on the Solana blockchain and are expected to experience significant volatility.

boden price on July 22 Source: tradingview

Endorsements and Market Reactions

Harris received endorsements from Biden, Bill Clinton, Hillary Clinton, and Senator Elizabeth Warren. Harris expressed her gratitude and determination to unite the Democratic Party and defeat Donald Trump.

KAMA prices also rose after the first round of debates in the US election

Since the June 27 debate, the Biden-themed meme coin dropped nearly 75%, while the Kamala Harris-themed KAMA surged by nearly 250%. The KAMA coin, known for its deliberately misspelled name and cartoon depiction of Harris, saw its market cap grow from $3.5 million to $11.9 million post-debate, though it has since decreased from a peak of $22.2 million.

KAMA reached a peak price of over 2 cents on July 3. Source: DEX Screener

Harris's Potential as Biden's Replacement

Harris is considered the top choice to replace Biden if he officially drops his re-election bid, according to sources within the Biden campaign, the White House, and the Democratic National Committee. This speculation has driven interest and volatility in Harris-themed meme coins.