Joe Biden Exits From Re-election, PolitiFi Tokens React

Written by W, Leah

Last updated: 2024-07-22

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President Joe Biden’s shocking decision to withdraw from the 2024 U.S. presidential race and endorse Vice President Kamala Harris as the Democratic nominee sparked a frenzy in the political meme coin market.

Immediately following Biden’s announcement, PolitiFi Tokens underwent significant fluctuations, indicating the impact of such political moves on digital asset values.

Notably, the Kamala Harris meme coin skyrocketed by a staggering 110.4%, trading at $0.02403 and boasting a fully diluted market cap of $23,921,482. This remarkable surge reflects investors’ overwhelming confidence in Harris’ political prospects and her potential as a future presidential candidate. Explore the world of political meme coins and stay tuned for more updates on this exciting political landscape.

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Polymarket Stats & Info
Biden News Triggers Political Token Reactions
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Polymarket Stats & Info

According to data on the prediction market website Polymarket, there’s a substantial 79% chance of Harris clinching the nomination. This is evidenced by a staggering $18,908,527 bet on her success.

Other potential nominees trail significantly behind, with Michelle Obama garnering a 4% chance ($19,302,020 bet), Gavin Newsom at 2% ($15,979,985 bet), and Hillary Clinton also at 5% ($18,455,915 bet).

Biden, despite his withdrawal, still has a residual presence with less than a 1% chance, backed by $43,852,015 in bets.

The presidential election outlook also paints a compelling picture. The Republican nominee, Ex-President Donald Trump, is currently the favored candidate to win the presidency, holding a 65% chance with a $38,199,991 bet in his favor.

Harris follows with a 31% chance, indicated by $20,334,256 in bets.

Other Democratic contenders like Newsom, Clinton, and Michelle Obama each have a slim 2% chance of victory.

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Biden News Triggers PolitiFi Tokens Reactions

The Gabin Noosum (NOOSUM) coin has dropped by 72.1%, now valued at $0.000296.

The Jeo Boden (BODEN) coin has also faced a significant slump, decreasing by 55.1% to $0.0106. These declines indicate a shift in market sentiment away from these figures as the political landscape shifts.

With the Democratic primary heating up and the general election is approaching, all eyes are on Kamala Harris as she navigates the path to potentially becoming the next President of the United States.

The interplay between political developments and the volatile world of meme coins underscores the unique and unpredictable nature of the 2024 election cycle.

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