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KAMA surged nearly 250% on Thursday after the June 27 Presidential debate last week. The Kamala Harris-themed meme <a href="https://zypto.com/blog/tutorials-and-information/cryptocurrency-coins-vs-tokens-whats-the-difference/" rel="noopener noreferrer nofollow">coin</a> has witnessed its market cap grow to almost $11 million from $3.5 million per Dex Screener.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/0b20027f74cb4e5b8002deb7dfa27d23.png" />While the focus has been on the two Presidential aspirants, Joe Biden and <a href="https://zypto.com/blog/weekly-crypto-news/weekly-crypto-news-partnerships-ransomware-political-agenda/" rel="noopener noreferrer nofollow">Donald Trump</a>, Kamala Harris, the former’s running mate, is the biggest winner. Yet, is this price surge sustainable, or is it merely a flash in the pan?KAMA is Coming<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/deaba453146f4cc0957e91f9728caed7.png" />KAMA is deliberately misspelled as Kamala Horris. It is the <a href="https://zypto.com/zypto-token/" rel="noopener noreferrer nofollow">token</a> of the current Vice President and potential replacement for Biden. It was launched strategically ahead of the upcoming elections as a Kamala Harris-themed meme <a href="https://zypto.com/blog/tutorials-and-information/cryptocurrency-coins-vs-tokens-whats-the-difference/" rel="noopener noreferrer nofollow">coin</a>.With speculation that U.S. President Joe Biden could drop out of the presidential race, KAMA has gained some steam. The <a href="https://zypto.com/zypto-token/" rel="noopener noreferrer nofollow">token</a> has gained massively a week from the first Presidential debate, ironically at the expense of Biden.It is nearly $11 million after an almost astronomical 250% increase. Although it is still far from its $22.2 million <a href="https://cointelegraph.com/learn/the-most-common-crypto-metrics-a-beginners-guide" rel="noopener noreferrer nofollow">market cap</a> peak earlier on July 3, there’s no saying what price it could reach.Multiple sources from the Biden camp, the White House, and the Democratic National Committee report that Kamala is the favorite candidate to replace him if needed. Thus, volatility is rife with KAMA.Even the bettors have weighed in on the debate in their way.On Polymarket, bettors have wagered more than $10.7 million, and 68% of traders are betting Biden will drop out of the race. Meanwhile, gamblers are <a href="https://polymarket.com/event/democratic-nominee-2024?tid&#61;1720037476385" rel="noopener noreferrer nofollow">increasingly backing</a> Harris as the Democratic Party nominee, with the chances she wins the spot up to 39%, trailing Biden’s 41%.<h2 id="header-0">Why Could Kamala Replace Biden</h2>Biden performed woefully in the first debate of the 2024 United States Presidential election. The 81-year-old Democratic member struggled to articulate his words effectively against <a href="https://zypto.com/blog/weekly-crypto-news/weekly-crypto-news-partnerships-ransomware-political-agenda/" rel="noopener noreferrer nofollow">Donald Trump</a>. Trump showed no such weakness, as the 78-year-old Republican was characteristically confident.Biden appeared to stammer and stumble a couple of times when he spoke, which wasn’t taken lightly. Although he came out swinging with some choice words, criticizing Trump’s administration, “By the time he left, things were in chaos. So we put things back together.” But overall, he didn’t transmit charisma, as his words were not delivered with gusto.Trump, on the other hand, was bold as he belittled Biden’s leadership and speaking difficulty. At some point, he said, “The fraud and everything else was ridiculous,” referring to Biden’s win in 2020. He also showed more poise when he spoke, although he was accused of spewing lies.As a result, multiple questions were raised about Biden’s physical and mental fitness.Different <a href="https://zypto.com/zypto-company/news-media/" rel="noopener noreferrer nofollow">media</a> houses have shown polls reflecting voters’ doubt about Biden’s capability to lead the country for another time. Some Democratic lawmakers have reportedly pressured Biden to drop out of the race.First, almost half of Democratic Party voters in a July 1 CBS <a href="https://zypto.com/zypto-company/news-media/" rel="noopener noreferrer nofollow">News</a> <a href="https://www.cbsnews.com/news/poll-debate-should-biden-be-running-mental-abilities/" rel="noopener noreferrer nofollow">poll</a> think Biden shouldn’t be the party’s nominee. Secondly, a July 2 CNN <a href="https://edition.cnn.com/2024/07/02/politics/cnn-poll-post-debate/index.html" rel="noopener noreferrer nofollow">poll</a> revealed that three-quarters of U.S. voters said Democrats would have a better attempt at winning the election with someone other than Biden as the candidate. Third, a July 3 New York Times and Siena College <a href="https://www.nytimes.com/2024/07/03/us/politics/poll-debate-biden-trump.html" rel="noopener noreferrer nofollow">poll</a> has Trump ahead and shows that three-quarters of voters think Biden is too old for the top job, a five-point increase since the debate.Biden’s alarming polling results follow at least four Democrats in the House of Representatives reportedly <a href="https://www.axios.com/2024/07/03/house-democrats-biden-jeffries-withdraw" rel="noopener noreferrer nofollow">saying</a> that Biden should step down, with one declaring that a “vast majority of the caucus shares this sentiment.”Former House Speaker Nancy Pelosi also briefed MSNBC that it is “completely legitimate” to contest if Biden’s debate performance is a “condition” or just “an episode.”White House officials blamed Biden’s struggles on cold and dismissed any notions of cognitive impairment. Yet, there are rumours that there have been calls made for Biden to step aside for Harris. Moreover, she is the most recognizable candidate and has the highest polling among the contenders.When Harris was asked her opinion of Biden’s performance in the debate during a CNN interview, she said, “Yes, there was a slow start, but it was a strong finish.”<h2 id="header-1">BODEN Stumbles, But For How Long?</h2><h2 id="header-2"></h2><img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/4724b4ab503c4218bab3248baaa90d36.png" />In a contrast of fortunes, BODEN, Biden’s meme <a href="https://zypto.com/blog/tutorials-and-information/cryptocurrency-coins-vs-tokens-whats-the-difference/" rel="noopener noreferrer nofollow">coin</a>, has recently done low numbers but for how long?According to CoinGecko, the <a href="https://zypto.com/zypto-token/" rel="noopener noreferrer nofollow">token</a> is down by more than 26%, trading at $0.03 within 24 hours and 73.4% over the past week. Within the past month, it has dropped by 85% after almost crossing the $1 mark.Without a doubt, the prevailing sentiments surrounding Kamala and Trump don’t bode well for Biden.Nonetheless, the market can quickly turn, and prices can change, so one can’t say for sure. Moreover, with prominent Democratic stakeholders publicly supporting Biden’s candidacy, BODEN might surge back to the top quickly.<h2 id="header-3">What Has Trump Been Up To?</h2>In typical fashion, <a href="https://zypto.com/blog/weekly-crypto-news/weekly-crypto-news-partnerships-ransomware-political-agenda/" rel="noopener noreferrer nofollow">Donald Trump</a> hasn’t been far away from the <a href="https://zypto.com/blog/zypto-news/zypto-announce-co-brand-partnership-with-pepe-2-0/" rel="noopener noreferrer nofollow">memecoin</a> craze either. Recently, the <a href="https://zypto.com/blog/weekly-crypto-news/weekly-crypto-news-partnerships-ransomware-political-agenda/" rel="noopener noreferrer nofollow">Donald Trump</a> meme <a href="https://zypto.com/blog/tutorials-and-information/cryptocurrency-coins-vs-tokens-whats-the-difference/" rel="noopener noreferrer nofollow">coin</a>, DJT, caused a bit of an uproar as market enthusiasts were manipulated into believing the former president would officially endorse the <a href="https://zypto.com/zypto-token/" rel="noopener noreferrer nofollow">token</a>.The <a href="https://zypto.com/zypto-token/" rel="noopener noreferrer nofollow">token</a> soared to a $400 million market capitalization within a while. This was propelled by claims that Donald Trump’s son, Barron Trump, was leading the <a href="https://zypto.com/zypto-token/" rel="noopener noreferrer nofollow">token</a>. Furthermore, Bo Loudon, a pro-Trump <a href="https://zypto.com/zypto-company/news-media/" rel="noopener noreferrer nofollow">social media</a> influencer, reiterated the <a href="https://zypto.com/zypto-company/news-media/" rel="noopener noreferrer nofollow">news</a>.The controversy began to unravel when it was pointed out that DJT was initially minted by its deployer in April via an address funded through Kucoin. The individual then minted the remaining supply in June.Remember that Kucoin faces criminal charges for illegal operations in <a href="https://zypto.com/blog/opinion/my-consensus-2024-part-1-the-usa-and-crypto/" rel="noopener noreferrer nofollow">the United States</a>. The <a href="https://zypto.com/blog/blockchain-industry/6-top-defi-trends-in-2024/" rel="noopener noreferrer nofollow">crypto</a> <a href="https://zypto.com/blog/blockchain-industry/the-next-generation-of-payment-technology-and-why-it-matters/" rel="noopener noreferrer nofollow">exchange</a> has been accused of operating an unlicensed money transmission <a href="https://zypto.com/business/" rel="noopener noreferrer nofollow">business</a> and violating anti-money laundering laws under the US <a href="https://zypto.com/blog/blockchain-industry/centralised-systems-in-the-blockchain-economy/" rel="noopener noreferrer nofollow">Bank</a> Secrecy Act.Things then went on a downward spiral quickly from there.Arkham Intelligence <a href="https://x.com/ArkhamIntel/status/1803161788164288875" rel="noopener noreferrer nofollow">offered</a> a $150,000 bounty to anyone who could identify the token’s creator. Onchain analyst ZachXBT pointed the finger at Martin Shkreli, a former pharmaceuticals CEO and hedge fund manager previously convicted of financial crimes.ZachXBT alleged in a <a href="https://x.com/zachxbt/status/1803371615524364503" rel="noopener noreferrer nofollow">thread </a>that Shkreli had an active Discord server with Cameron Roxborough as an admin. Roxborough had earlier boasted of being schoolmates with Barron Trump. Afterwards, ZachXBT was given the bounty.In a desperate bid to garner public support, Shkreli made large bets on DJT’s authenticity with well-known traders Alex Wice and GiganticRebirth (GCR).That move proved catastrophic, as the token’s price sank 33% almost immediately after GCR offered to wager $100 million that it wasn’t authentic.Unfortunately, the <a href="https://zypto.com/zypto-token/" rel="noopener noreferrer nofollow">token</a> has kept plunging as it now sits at an $85m market capitalization.In all of these, Trump still has his supporters who believe that something good can still come out of the DJT <a href="https://zypto.com/zypto-token/" rel="noopener noreferrer nofollow">token</a>. Thus, it is left to be seen how the matter develops.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/abb34b346edf4967980d8ca9251946d0.png" /><h2 id="header-4">Biden Plans to Fight Back</h2>Joe Biden has made it unequivocally clear that he will remain in the race as the Democratic candidate. This has come after the public, and some stakeholders massively criticized him for his dismal showing in the debate against Trump. It was alleged that he had to convince the public of his physical and mental fitness.“Let me say this as clearly as I possibly can, as simply and straightforward as I can: I am running … no one’s pushing me out,” Biden said on a Zoom call with campaign staffers, per reports.He continued, “I’m not leaving. I’m in this race to the end, and we’re going to win.”In a show of solidarity, a group of Democratic governors reiterated their support for President Biden after a meeting with him and Vice President Kamala Harris at the White House.“The president has always had our backs. We’re going to have his back as well,” Maryland Governor Wes Moore told reporters.Michigan Governor Gretchen Whitmer, who was also in the meeting, said Biden was “in it to win it, and I support him.”<h2 id="header-5">Closing Remark</h2>There is no denying that the <a href="https://zypto.com/blog/blockchain-industry/6-top-defi-trends-in-2024/" rel="noopener noreferrer nofollow">crypto</a> world is highly impacted by market <a href="https://zypto.com/zypto-company/news-media/" rel="noopener noreferrer nofollow">news</a>. Nothing has been more prominent in the past week than the 2024 United States Presidential debate.Joe Biden’s struggles (his debate performance and meme <a href="https://zypto.com/blog/tutorials-and-information/cryptocurrency-coins-vs-tokens-whats-the-difference/" rel="noopener noreferrer nofollow">coin</a>) have profited Kamala Harris as her meme <a href="https://zypto.com/blog/tutorials-and-information/cryptocurrency-coins-vs-tokens-whats-the-difference/" rel="noopener noreferrer nofollow">coin</a> and reputation have significantly increased. However, <a href="https://zypto.com/blog/weekly-crypto-news/weekly-crypto-news-partnerships-ransomware-political-agenda/" rel="noopener noreferrer nofollow">Donald Trump</a> hasn’t had luck with his <a href="https://zypto.com/zypto-token/" rel="noopener noreferrer nofollow">token</a>, as it plummeted after being rocked by controversy.To his credit, the Republican aspirant has recently expressed strong support for <a href="https://zypto.com/blog/blockchain-industry/significance-of-bitcoin-etf-for-crypto-and-the-broader-economy/" rel="noopener noreferrer nofollow">Bitcoin</a> (<a href="https://zypto.com/blog/michael-saylor-a-bitcoin-investor-success-story/" rel="noopener noreferrer nofollow">BTC</a>), sparking discussions about classifying the <a href="https://zypto.com/blog/blockchain-industry/how-to-use-cryptocurrency-for-online-purchases/" rel="noopener noreferrer nofollow">cryptocurrency</a> as a strategic reserve asset. This endorsement places Trump as the first major <a href="https://zypto.com/blog/opinion/separating-money-from-politics/" rel="noopener noreferrer nofollow">political</a> party nominee to embrace <a href="https://zypto.com/blog/blockchain-industry/significance-of-bitcoin-etf-for-crypto-and-the-broader-economy/" rel="noopener noreferrer nofollow">Bitcoin</a> publicly.This is an optimistic scenario for the <a href="https://zypto.com/blog/blockchain-industry/6-top-defi-trends-in-2024/" rel="noopener noreferrer nofollow">crypto</a> ecosystem in the grand scheme. Thus, while only one candidate wins at the Presidential election, <a href="https://zypto.com/blog/blockchain-industry/how-to-use-cryptocurrency-for-online-purchases/" rel="noopener noreferrer nofollow">cryptocurrency</a> – via <a href="https://zypto.com/blog/tutorials-and-information/beyond-bitcoin-ethereum-what-are-altcoins/" rel="noopener noreferrer nofollow">meme coins</a> or <a href="https://zypto.com/blog/blockchain-industry/significance-of-bitcoin-etf-for-crypto-and-the-broader-economy/" rel="noopener noreferrer nofollow">Bitcoin</a> – also has a share of the national cake.<a href="https://zypto.com/" rel="noopener noreferrer nofollow">Zypto</a> is committed to offering you <a href="https://zypto.com/blog/opinion/the-crypto-community-a-multifaceted-global-tribe/" rel="noopener noreferrer nofollow">the best</a> and most <a href="https://zypto.com/blog/tutorials-and-information/basic-crypto-security/" rel="noopener noreferrer nofollow">secure</a> <a href="https://zypto.com/blog/blockchain-industry/6-top-defi-trends-in-2024/" rel="noopener noreferrer nofollow">crypto</a> services. <a href="https://zypto.com/blog/blockchain-industry/6-top-defi-trends-in-2024/" rel="noopener noreferrer nofollow">Crypto</a> services are tailored to cater for all your needs, with a smooth and fast onboarding process to get you started in the <a href="https://zypto.com/blog/blockchain-industry/6-top-defi-trends-in-2024/" rel="noopener noreferrer nofollow">crypto</a> space.The <a href="https://zypto.com/blog/crypto-news/zypto-app-now-live-on-google-play-and-apple-app-store/" rel="noopener noreferrer nofollow">Zypto App</a> comes with many features to enhance your trading, including virtual and <a href="https://zypto.com/personal/physical-crypto-cards/" rel="noopener noreferrer nofollow">physical cards</a> tailored to suit your specific needs and a robust <a href="https://zypto.com/blog/blockchain-industry/becoming-the-worlds-top-crypto-payments-company/" rel="noopener noreferrer nofollow">payment gateway</a> to give you a refreshing and safe experience.You can also check <a href="https://zypto.com/blog/" rel="noopener noreferrer nofollow">the Zypto blog</a> for more cryptocurrencies, <a href="https://zypto.com/blog/tutorials-and-information/what-is-a-web3-wallet-and-how-does-it-work/" rel="noopener noreferrer nofollow">NFTs</a>, <a href="https://zypto.com/business/development/" rel="noopener noreferrer nofollow">Web3</a>, <a href="https://zypto.com/blog/blockchain-industry/decentralized-applications-dapps-what-you-need-to-know/" rel="noopener noreferrer nofollow">altcoins</a>, and <a href="https://zypto.com/business/development/" rel="noopener noreferrer nofollow">blockchain</a> technology resources. Join the #ZyptoCrew, and let’s make your trading journey easy and smooth.Original Source: <a href="https://zypto.com/blog/blockchain-industry/weekly-crypto-news-kama-surges-by-250-as-boden-dips/" rel="noopener noreferrer nofollow">https://zypto.com/blog/blockchain-industry/weekly-crypto-news-kama-surges-by-250-as-boden-dips/</a>Connect with us and Join the community: <a href="https://x.com/Zypto_Token" rel="noopener noreferrer nofollow">Twitter</a> | <a href="https://t.me/ZyptoGlobal" rel="noopener noreferrer nofollow">Telegram</a> | <a href="https://www.instagram.com/zypto.network/" rel="noopener noreferrer nofollow">Instagram</a> | <a href="https://www.reddit.com/r/ZyptoToken/" rel="noopener noreferrer nofollow">Reddit</a>Disclaimer:The content provided is for informational purposes only and reflects the author&#39;s views. It does not constitute financial, investment, or professional advice. Cryptocurrency investments and transactions carry inherent risks, including market volatility, regulatory changes, and technological vulnerabilities. Readers should conduct their own research and consult with a qualified financial advisor before making any investment decisions. We do not endorse or guarantee the accuracy, reliability, or completeness of any information provided. The mention of specific companies, products, or services is not an endorsement and should not be construed as such.

Weekly Crypto News – KAMA Surges By 250% As BODEN DIPS

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Alte articole publicate pe 5 iul. 2024

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