- PolitiFi meme coins based on President Biden experienced heavy downtrends following his withdrawal statement.
- Other tokens themed after Democratic party members experienced sharp declines, reflecting market sentiment.
- KAMALA HORRIS and OBEMA tokens rally as speculations surrounding a new Democrat nominee flood X.
PolitiFi meme coins based on President Biden experienced heavy decline in the past few days. Meanwhile, tokens based on Vice President Kamala Harris rallied as she gained support to replace Biden in the presidential elections.
Meme tokens KAMA and OBEMA surge as Democrats await new presidential nominee
PolitiFi meme coins have been in murky waters following President Joe Biden's withdrawal from the upcoming presidential elections in November. The president stepped down from the race on Sunday, leaving the party without a presidential candidate.
Biden's withdrawal has impacted several meme coins modeled after the current president. These tokens began to experience heavy declines, with the most popular being BODEN, JILL BODEN, and HUNTBODEN. These three tokens have dropped 16%, 72% and 15% respectively in the last 24 hours.
The massive selling pressure on Biden-themed meme tokens has sent a wave of setbacks across the political meme coin market, especially among Democrat-based coins. Many tokens themed after democratic party members have declined over the past 24 hours. These include the MAJOR token, based on Biden's dog, and NOOSUM, based on California governor Gavin Newsom, which are experiencing declines of 27% and 36%, respectively
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