Kamala Harris memecoin surges 250% amid calls for Biden to bow out
Kamala Harris-themed memecoin gained nearly 250% on Thursday as US President Joe Biden faced intense pressure to drop out of the presidential race after a poor debate against Donald Trump.
Kamala Horris (KAMA) — an intentionally misspelled Solana token marketed by a poorly drawn cartoon of the US vice president — saw its market cap jump from $3.5 million to about $11.9 million during the June 27 debate, according to Dex Screen.
That's down from an earlier market high of $22.2 million on July 3.
Harris is the top choice to replace Biden if he ends his re-election bid, Reuters reported on July 3, citing seven senior sources in the Biden campaign, the White House and the Democratic National Committee exclusively for current discussions.
Meanwhile, Jeo Boden (BODEN) — a similarly misspelled memecoin for President Biden — has fallen more than 22% in the past 24 hours and 73.4% in the past week, according to CoinGecko.
KAMA's rally and BODEN's fall came after the June 27 Biden-Trump debate, where political analysts widely noted Biden's poor debate performance, where he seemed to lose his train of thought at times.
Biden, 81, the oldest man to run for president, blamed his performance on the cold, over-preparation and jet lag, despite hosting the debate in Atlanta the week of the same time zone.
As Biden sinks in the polls, the pressure increases
Pollsters, the media and Democratic lawmakers are pushing Biden out of the race as fears of Trump's inability to defeat him in the Nov. 5 election mount, with five polls showing Trump leading by 2.3 percent.
A July 3 New York Times and Siena College poll also shows Trump leading and three-quarters of voters think Biden is too old for the top job, a five percent increase since the debate.
Three-quarters of US voters say Democrats would be better off winning the election with someone other than Biden, according to a July 2 CNN poll. A July 1 CBS News poll found that nearly half of Democratic voters think he should not be the party's nominee.
Gamblers at crypto prediction platform Polymarket put the odds of Biden dropping out of the race at 64 percent, up from 19 percent before the debate.
Biden's dismal poll results come as at least four Democrats in the House of Representatives told Axios on July 3 that Biden should step down, with one saying “too many members of the caucus share that sentiment.”
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Former House Speaker Nancy Pelosi told MSNBC that it was “absolutely legitimate” to ask whether Biden's debate performance was a “condition” or a “class.”
“Is this a show or is this a prequel?…I think ‘both candidates' is a valid question.”
WATCH: Speaker Emerita Nancy Pelosi Responds to Democrats' Concerns About President Biden pic.twitter.com/KRm2fdfXH0
— MSNBC (@MSNBC) July 2, 2024
On Wednesday, July 3, the editorial board of the Boston Globe joined The New York Times, The New Yorker and the Atlanta Journal-Constitution in calling for Biala to step down and allow another candidate to defeat Trump.
Biden is not backing down.
Citing those close to Biden, according to reports from the Washington Post and the New York Times, Biden admitted that he may not be able to save his candidacy if he doesn't prove his worth to Biden.
Despite the pressure, the president said he is still ready for the job.
“I'll make this as clear as I can — as simple and direct as I can: I'm running,” Biden said during a July 3 highlight call with campaign staff, according to Politico. “No one pushes me. I'm not going. I'm in this race to the end.
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