Meme coins linked to US President Joe Biden, his wife Jill and his son Hunter have fallen more than 60% since Biden formally dropped out of the 2024 presidential race.
The Joe Biden-linked Geo Boden (BODEN) token fell 62% within two hours, while Kamala Hollis (KAMA) token surged amid speculation that US Vice President Kamala Harris will replace Biden as the Democratic nominee.
According to data from CoinGecko, BODEN’s market capitalization, which was $16.2 billion before the news broke, has fallen by about $10 billion. show.
CoinGecko Data show Meme coins related to Joe Biden’s family were hit even harder, with Jill Borden Token (JILLBODEN) falling 68.5% on the news and Hunter Biden’s Laptop (LAPTOP) falling 62%. according to Go to CoinMarketCap.
The market capitalization of both JILLBODEN and LAPTOP fell below $100,000.
Kamala Harris-linked meme coins surge
Meanwhile, the Kamala Harris-related Kamala Hollis (KAMA) meme coin surged 133% as experts predict the US vice president is likely to succeed Biden as the Democratic nominee.
KAMA is down 35% from its 24-hour high, but has an 80% chance of Harris replacing Biden. according to For people placing bets on the decentralized prediction market Polymarket.
Former U.S. First Lady Michelle Obama and Michigan Governor Gretchen Whitmer are well below 5% and 4%, respectively.
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Harris has never publicly expressed an opinion for or against the cryptocurrency industry, so it is unclear to what extent she supports the industry.
Biden did not give a reason for his withdrawal, instead insisting it was in the “best interest” of the party and the country.
However, the current US president intends to complete his current term.
MAGA is a “Make America Great Again” meme coin associated with Republican candidate Donald Trump. Increased Since Biden announced his withdrawal, his approval rating has increased by 7 percentage points.
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