After President Joe Biden endorsed Kamala Harris for the presidency, the crypto market swiftly reacted. Traders seized the moment by launching a wave of new tokens satirizing both Harris and Biden.
The meme coin inspired by Kamala Harris, known as KAMA, soared to record highs following Biden’s withdrawal from the presidential race. This surge came immediately after the announcement, with KAMA’s value jumping to 0.0024 cents within minutes.
The coin’s market cap now stands at $24 million, making it nearly four times larger than its Biden-inspired counterpart, BODEN, which has plummeted by almost 50%.
KAMA’s rise can be linked to Biden’s endorsement and broader trends in the crypto market. Meme coins, despite their volatility, continue to attract investors. Solana’s blockchain, known for scalability and low transaction costs, has become a popular platform for these tokens, facilitating rapid trading and liquidity.
Kamala Harris acknowledged her campaign’s momentum and Biden’s endorsement, stating her commitment to unifying the Democratic Party and the nation. Meanwhile, the rapid rise of KAMA highlights the growing connection between global politics and the digital currency space.
However, like many meme coins, KAMA carries significant risks, with potential for both quick returns and sudden crashes. Whether KAMA will sustain its prominence or fade remains to be seen.
Binance has rolled out new borrowing options for a fresh batch of altcoins, introducing Hyperlane, SIGN, Initia, KERNEL, and WalletConnect to its VIP Loan platform.
The U.S. Securities and Exchange Commission is dragging its feet once again—this time on two ETF proposals tied to Dogecoin and XRP.
In a market dominated by Bitcoin headlines and Ethereum upgrades, XRP is scripting a quieter — but potentially historic — comeback.
In a fresh move highlighting crypto’s rising momentum in traditional finance, 21Shares has set its sights on launching a Dogecoin-backed exchange-traded fund (ETF) in the United States.