Biden-related meme tokens have lost over 60% since his withdrawal from the presidential race

Meanwhile, Trump-inspired assets have not shown significant growth

22.07.2024 - 10:40

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2 min

What’s new? Meme tokens inspired by Joe Biden and his family members lost more than 60% of their value after the current US president announced his withdrawal from the 2024 presidential race. At the same time, the Kamala Horris (KAMA) meme token showed growth, as Kamala Harris is seen as the most likely candidate to replace Biden from the Democrats.

Data from the CoinGecko aggregator

What else is known? For example, the rate of the Jeo Boden (BODEN) token fell by 60%, and its capitalization collapsed from $17,6 million to $6,5 million in 24 hours. At the same time, meme coins, whose mascots are members of the current president’s family, suffered even more.

The token Jill Boden (JILLBODEN) associated with Biden’s wife lost 83% of its value. A coin referring to the scandal involving the laptop of the president’s son Hunter Biden, Hunter Biden’s Laptop (LAPTOP), lost 62%. The market capitalization of JILLBODEN and LAPTOP fell below $100 000.

In turn, the token KAMA added 64%. At the same time, Harris’ participation in the election race has not been officially announced yet. In addition, she has never publicly expressed her position on the cryptocurrency industry. As for Biden, he did not give reasons for withdrawing from the race, only noting that it was in the interests of the country and the party.

Media: Major stock exchanges refused to list TRUMP due to possible political repercussions

Specifically, Bybit refused to list the asset after it had already reached the trading volume target the exchange’s team set

Donald Trump-inspired tokens did not show significant growth, or lost value at all. Thus, MAGA (TRUMP) lost 4,2% over the day, MAGA Hat (MAGA) added 4,9%, Doland Tremp (TREMP) grew by 6,5%, Fight to MAGA (FIGHT) decreased by 12,3%, and MAGA Again (MAGAA) and MAGA Pepe (MAPE) lost 39% and 46%, respectively. Only Super Trump (STRUMP) saw significant growth, with the asset adding 20%.

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