The KAMA memecoin, inspired by Vice President Kamala Harris, surged to an all-time high with a market capitalization of $24 million.
This spike occurred following the announcement of President Joe Biden stepping down from the presidential race.
Kamala Harris, now a leading candidate for the presidency, has garnered significant support from crypto traders in the PoliFi category.
Within minutes of Biden’s announcement, KAMA surged to 2.4 cents, reaching its new market cap peak.
This development also caused a notable drop in other Biden-related memecoins like BODEN, JILL BODEN, and HUNTER BODEN, which saw significant declines.
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In contrast, Donald Trump-inspired memecoins such as MAGA and Super Trump saw considerable gains recently.
Political developments continue to influence the volatile market of politically-themed cryptocurrencies, especially those on platforms like Pump.Fun hosted on the Solana ecosystem.
