As an analyst with extensive experience in the crypto and political finance sectors, I believe that the recent events surrounding former President Donald Trump’s assassination attempt and the approaching US elections have significantly impacted the prices of meme coins like BODEN (Jeo Boden) and KAMA (Kamala Horris).
After the assassination attempt on former President Donald Trump during a rally in Pennsylvania, the markets for Memcoin by Jeo Boden (BODEN) and KamalaCoin featuring Kamala Harris (KAMA) saw notable drops in value.
As a crypto investor, I’ve noticed an intriguing contrast between the Biden-Harris parody tokens and the Trump meme coins. Instead of mirroring each other’s price movements, these tokens have taken different paths. Unlike their Trump counterparts, the Biden-Harris tokens didn’t experience a surge in value when I initially invested in them. In fact, they went in the opposite direction, declining in price while the Trump meme coins were gaining momentum. It’s as if the markets had a different sentiment towards these two sets of tokens.
As a researcher studying the cryptocurrency market, I discovered that BODEN experienced a significant price decline of over 18% following the shocking news about Trump being shot. According to my analysis of CoinGecko data, the token’s value plummeted from approximately $0.12 down to $0.03, as investors hastily sold off their holdings in the Biden-themed asset.
The political financing sector, represented by the CoinStats PoliFi index, has experienced a noteworthy decrease, shrinking by 11% within the past 24 hours. This downturn coincides with the upcoming elections in the United States.
In the realm of PoliFi, traders and investors are now gravitating towards platforms such as Polymarket. On these platforms, the demand for “Yes” shares in contracts querying whether Biden will withdraw from the presidential race has surpassed the 60% mark.
In the past two weeks, BODEN‘s value has decreased significantly by over 35%. This substantial loss in BODEN’s worth is indicative of the increasing doubt concerning Biden’s status as the Democratic candidate for the 2024 US presidency.
Election jitters: Kamala Horris (KAMA) meme coin dips 27%
As an analyst, I’ve noticed that the value of KAMA meme coin experienced a significant surge post Biden’s underwhelming debate performance. However, it has taken a downturn recently, with a 27% decrease in value within the last 24 hours and a more substantial 36% decline over the past seven days.
Based on in-depth analysis, it appears that doubts surrounding President Biden’s ability to secure re-election and the rising probability of Vice President Harris taking over as the Democratic nominee have influenced KAMA’s price.
Now, the focus has moved towards the TRUMP token due to its greater market value and more active trading activity compared to KAMA.
Currently, Kamala Harris’s value is priced at $0.0056 in the market, and there have been approximately $1.4 million worth of trades involving her in the past 24 hours.
The fluctuations in the BODEN and KAMA cryptocurrencies underscore how closely linked the prices of meme coins are to the influence of political developments and figures they represent.
Approaching the election, I anticipate that the price trends of these tokens will mirror the evolving political terrain.
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2024-07-14 19:58