As President Biden announced his withdrawal from the 2024 U.S. election, Biden-related meme tokens immediately collapsed by more than 60%, wiping out more than 10 million US dollars in market value in a single day. As the current Vice President Kamala Harris becomes more and more popular to replace Biden as the Democratic presidential candidate, the price of related tokens and the winning rate on Polymarket have doubled again.
( Biden withdraws from the race! Biden withdraws from the US presidential election: Passing the torch )
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ToggleBiden meme sector plunges more than 60%
Coingecko data shows that after Biden announced his withdrawal from the presidential race, the meme coins related to him plummeted by more than 60% within 24 hours.
As of the time of writing, BODEN tokens alluding to Biden have plummeted 61.6%, his wife Jill Biden’s JILLBODEN tokens have plummeted 75.7%, and his son Hunter Biden’s LAPTOP tokens have also fallen 61%.
In addition, the market value of BODEN also evaporated by US$11.36 million to US$6.19 million in a few hours, while the market values of JILLBODEN and LAPTOP were only left with US$18,000 and US$70,000.
Harris Token (KAMA) Price Doubles Again
At the same time, KAMA, a meme coin related to current US Vice President Kamala Harris, rose 133% in a few hours. The reason behind it is widely regarded as her being an alternative to Biden and a possible Democratic presidential candidate. people.
As of press time, KAMA has fallen 24.3% since its 24-hour high, but still has an astonishing 80.6% increase during the day.
The crypto community is generally optimistic about Harris' candidacy on behalf of the Democratic Party.
On the other hand, judging from the polls on the prediction market Polymarket, Harris is also optimistic about becoming Biden's replacement, with a probability of as high as 84%.
In addition, the approval ratings of former US First Lady Michelle Obama and Hillary Clinton were as low as 7% and 2% respectively.
At the same time, as Harris's voice for candidacy grows, Trump's victory rate in the US election has dropped to 64%, while Harris's victory rate has increased from 23% two days ago to 30%.
One user lost $2 million on Polymarket
However, cruelly, after Biden announced his withdrawal from the race, a Polymarket user who was extremely optimistic about Biden ended up losing nearly US$2 million.
It is reported that a trader named " AnonBidenBull " bet on the platform that Biden will win the Democratic presidential nomination, win the national popular vote and the 2024 U.S. election. Now the value of the three positions has been close to zero, with a loss of 1.991 million. Dollar.
