Kamala Horris Token Soars 126% As Polymarket Odds Of Kamala Harris Winning Democratic Nomination Skyrocket

Updated: 03 July 2024

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The Kamala Horris price surged over 126% after Polymarket odds of Kamala Harris becoming the Democratic nominee for president this year more than quadrupled on July 2.

The political meme coin traded hands at $0.008 as of 3:25 a.m. EST after “Yes” shares in a contract asking whether she would receive approval surged to 35 cents. That indicates that punters see a 35% chance that she will become the Democratic nominee for the upcoming November election.

Supporters Call On Joe Biden To Step Down

Joe Biden is still the favorite, with “Yes” shares in favor of him standing at 48%. However, supporters have started calling on him to step aside and let Harris take over.

The Washington Post reported that former president Barack Obama is concerned about Biden’s chances of re-election after a catastrophic performance in a debate with Trump last week.

what can be

unburdened by what has been pic.twitter.com/zp97MU6uSn

— Polymarket (@Polymarket) July 3, 2024

“We should do everything we can to bolster her, whether it’s in second place or the top of the ticket,” said Rep. James Clyburn in a televised interview on July .

Former Congressman Tim Ryan, the first presidential candidate to endorse Biden in 2020, was more blunt in a Newsweek op-ed entitled “Kamala Harris Should Be the Democratic Nominee for President in 2024.”

Kamala Horris Escapes The Political Meme Coin Bloodbath

Kamala Horris was by far the top-performing meme coin, with the majority of tokens in this crypto category suffering major losses. This subset of digital assets saw its market cap plummet more than 10% throughout the past day of trading, according to CoinGecko.

Biggest political meme coin losers (Source: CoinGecko)

The political meme coins that were hit the hardest were tokens linked to Biden and Trump. Jill Boden (JILLBODEN) bled the most with a 24-hour loss of more than 50%. The second biggest loser was FreeTrump ($TRUMP) after it shed over 43% of its value. Trump Mania (TMANIA) and AMC were the third and fourth biggest losers, respectively.

With the overall meme coin market also plunging almost 4% in the past 24 hours, investors may turn to tokens that are not yet tradable on the open market to wait out the storm.

Among analyst favorites in this presale category are AI meme coin WienerAI (WAI), PEPE derivative Pepe Unchained (PEPU), and the P2E Doge derivative PlayDoge (PLAY).