As a researcher with a background in both political science and financial markets, I find myself at the intersection of these two fascinating worlds. The recent developments surrounding the KENNEDY meme coin and Robert F. Kennedy Jr.’s presidential campaign have provided yet another intriguing case study.
On Tuesday evening, the value of the Kennedy meme coin dropped by approximately 22%, following remarks from Kennedy’s potential running mate indicating that Robert F Kennedy Jr might be contemplating withdrawing from his campaign.
On August 20th, Tuesday evening, the meme coin themed around Robert F. Kennedy Jr., named KENNEDY, experienced a steep drop following remarks made by his running mate in a podcast discussion. The remarks implied that RFK Jr. could potentially withdraw from the presidential campaign to back former President Donald J. Trump instead.
During a chat on Tom Bilyeu’s YouTube podcast, Nicole Shanahan – Kennedy’s running mate – disclosed that they are considering two possible scenarios: either persisting as an independent ticket or deciding to back ex-President Donald Trump by withdrawing their candidacy.
“We’re considering two possible paths: one is establishing a new party, but there’s a chance it could lead to a Harris-Walz presidency due to vote split with Trump. The other option is to leave immediately and ally with Donald Trump, which we would then have to justify to our supporters.”
Nicole Shanahan
After the announcement, the value of Kennedy meme coin on Solana decreased by approximately 21.8%, reaching $0.0001384. As for other political meme coins, reactions were varied: TrumpCoin (DJT) saw a slight drop of 0.02% to $0.0001421; MAGA (TRUMP) declined by 3.26% to $2.63; and the HARRIS coin experienced a significant decrease of more than 18%, dropping to $0.0006471 on Solana.
In reaction to Shanahan’s comment, Trump expressed to CNN that he might well take Robert F. Kennedy Jr. into his government, provided Kennedy stops his independent campaign and supports him instead.
Recently, there’s been a noticeable shift in crypto policies as Democrats and Republicans adopt distinct viewpoints. The Trump administration appears to be leaning towards pro-crypto groups, with the Republican nominee adding several crypto advocates to his advisory team. On the other hand, speculation is rife that if Vice President Kamala Harris wins the election in November, SEC Chairman Gary Gensler could potentially be nominated as Treasury Secretary, a role that might influence crypto policies significantly.
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2024-08-21 09:34