Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

PolitiFi meme coins surge as Biden support lowers

Source Fxstreet

Jul 3, 2024 22:58

Crypto prediction markets favor Kamala Harris over President Joe Biden as Democratic nominee in upcoming presidential elections.
Meme coins based on Vice President Harris rallied amid BODEN token's 30% decline.
Other tokens based on possible replacements for Biden experienced similar surges.

Several political meme coins related to Vice President Kamala Harris rallied on Wednesday as prediction market odds favor her as the preferred Democrat nominee in the upcoming US presidential race.

Crypto prediction markets spark rise in political meme coins as Biden loses support

In the past 24 hours, meme coins modeled after candidates who might challenge Joe Biden for the Democratic ticket in the upcoming presidential race have seen significant increases. These PolitiFi meme coins surged as crypto prediction markets like Polymarket favored Kamala Harris over President Joe Biden.

The largest gainers among these PolitiFi tokens include misspelled "Kamala Horris" with the ticker KAMA, which has seen a 77% over the past 24 hours.

Other tokens based on the candidates who stand as possible replacements for Biden have also risen in the past 24 hours. One of these is the "NOOSUM" token based on fellow Democrat Gavin Newsom, Governor of Carlifonia.

Additionally, the debate between Joe Biden and Donald Trump last week sparked massive concerns over Joe Biden's chances in the upcoming election. Polymarket data suggests that social volume has intensified with predictions of who has the highest chance of winning.

According to Polymarket odds, Donald Trump currently has the highest chance of winning in the upcoming presidential elections, with a 61% win rate. Kamala Harris follows behind, holding a 15% chance, after flipping Biden, who possesses a 13% chance of winning.

The predictions suggest that Biden's chances of dropping out of the 2024 elections have risen to 69%. This was accompanied by a huge decline in the BODEN (based on Joe Biden), which dropped 33% over the last 24 hours.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Copper Long-term forecast: Will Copper Price Expected To Soar In 2023?The price of copper is affected by various of factors. You may wonder how the price of cooper will be in 2023, check out our forecast analysis.

Author Mitrade

The price of copper is affected by various of factors. You may wonder how the price of cooper will be in 2023, check out our forecast analysis.

Understanding the first crypto market crash of 2024 and what to expect next The 365-day MVRV ratio suggests that this crash may be just the beginning. If the ETF is rejected before the second quarter of 2024, it could trigger a sharp correction.

Author FXStreet

The 365-day MVRV ratio suggests that this crash may be just the beginning. If the ETF is rejected before the second quarter of 2024, it could trigger a sharp correction.

Japanese Yen stands tall near one-month top against USD on hawkish BoJ talks The Japanese Yen (JPY) rallied to the highest level since early February against its American counterpart on Friday amid bets for an imminent shift in the Bank of Japan's (BoJ) policy stance.

Author FXStreet

The Japanese Yen (JPY) rallied to the highest level since early February against its American counterpart on Friday amid bets for an imminent shift in the Bank of Japan's (BoJ) policy stance.

Natural Gas sinks to pivotal level as China’s demand slumps Natural Gas price (XNG/USD) edges lower and sinks to $2.56 on Monday, extending its losing streak for the fifth day in a row. The move comes on the back of China cutting its Liquified Natural Gas (LNG) imports after prices rose above $3.0 in June. It

Author FXStreet

Natural Gas price (XNG/USD) edges lower and sinks to $2.56 on Monday, extending its losing streak for the fifth day in a row. The move comes on the back of China cutting its Liquified Natural Gas (LNG) imports after prices rose above $3.0 in June. It

Toncoin Price Inches Closer To All-Time High – Will TON Hit $8 This Week?Toncoin (TON), with its history of wild price fluctuations, perfectly embodies the volatility that thrives in the cryptocurrency market. Prices often experience dramatic swings that can make even the most seasoned investors dizzy.

Author NewsBTC

Toncoin (TON), with its history of wild price fluctuations, perfectly embodies the volatility that thrives in the cryptocurrency market. Prices often experience dramatic swings that can make even the most seasoned investors dizzy.

Popular Symbols