Following the assassination attempt involving former President Donald Trump at a campaign rally in Pennsylvania, the Jeo Boden (BODEN)and Kamala Horris (KAMA) meme coins experienced significant price declines.
The tokens, which parody the names of President Joe Biden and Vice President Kamala Harris, went in the opposite direction price-wise compared to Trump meme coins.
BODEN plummeted by over 18% from its peak price after news that Trump was shot. According to CoinGecko data, the token’s price dropped from around $0.12 to $0.03 as investors fled the Biden-themed asset.
The PoliFi (political finance) sector has also seen a significant decline, with the CoinStats PoliFi index contracting by 11% in the last 24 hours. This downturn aligns with the approaching elections in the United States.
Traders and investors in the PoliFi space have shifted their focus to platforms like Polymarket, where the “Yes” shares in a contract asking if Biden will drop out of the race have topped 60%.
Over the past 14 days, BODEN has plummeted by more than 35%. This steep drop in BODEN’s price reflects the growing uncertainty surrounding Biden’s future as the Democratic nominee for the 2024 presidential election.
Election jitters: Kamala Horris (KAMA) meme coin dips 27%
The KAMA meme coin surged in value following Biden’s lackluster debate performance. It has seen a 27% dip in the past 24 hours and a 36% decline over the past seven days.
Fundamental analysis shows that KAMA’s price has been influenced by growing doubts about President Biden’s re-election viability and the increasing chances of Vice President Kamala Harris becoming the Democratic nominee.
However, attention has now shifted to the TRUMP token, which boasts a larger market capitalization and higher trading volume than KAMA.
At the time of writing, Kamala Horris is trading at $0.0056, with a 24-hour trading volume of $1.4 million.
The volatility in the BODEN and KAMA tokens highlights the close correlation between political events and the performance of meme coins tied to specific candidates or political figures.
As the election approaches, the price trajectory of these tokens is likely to continue reflecting the shifting political landscape.
