Crypto is once again betting on very serious matters of presidential politics with very stupid meme coins, including ONE for Vice President Kamala Harris, which more than doubled in price on Sunday.
KAMA hit a record high of 2.4 cents minutes after President JOE Biden announced he was calling off his re-election campaign. With a market capitalization of $24 million, KAMA is now nearly four times larger than the Biden-inspired BODEN coin that was once PolitiFi's top Crypto. BODEN fell nearly 50% after Biden's announcement.
The political shakeup prompted traders to create a wave of new tokens mocking Harris and Biden on the Pump.fun meme coin launchpad. If history is to be believed, the value of most of these tokens will likely fall as buyers and sellers play a game of chicken on the order book on the Solana (SOL) blockchain, where most meme coins are traded.