Kamala Harris Meme Coin Soars to All-Time High After Joe Biden Drops Out

Crypto traders are once again engaging with the serious realm of presidential politics through the lens of meme coins, with one particular coin for Vice President Kamala Harris seeing a notable surge.

The coin, named KAMA, skyrocketed to an all-time high of 2.4 cents shortly after President Joe Biden announced he would not seek re-election. With a market capitalization of $24 million, KAMA has nearly quadrupled in value compared to the Biden-themed coin, BODEN, which plummeted by almost 50% following Biden’s announcement.

This political shift has spurred traders to launch a slew of new tokens poking fun at both Harris and Biden on the meme coin platform Pump.fun. History suggests that many of these newly minted tokens will likely experience a steep decline in value as the market engages in a speculative dance atop the Solana (SOL) blockchain, where the majority of meme coins are traded.

In light of Biden’s endorsement of Harris’ presidential campaign—supported by figures such as former President Bill Clinton, former Secretary of State Hillary Clinton, and crypto-skeptic Senator Elizabeth Warren—Harris expressed her determination to secure the nomination. “I am honored to have the President’s endorsement and my intention is to earn and win this nomination,” she stated. “I will do everything in my power to unite the Democratic Party—and unite our nation—to defeat Donald Trump and his extreme Project 2025 agenda.”