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With a market cap of $24 million, KAMA- the meme coin of Kamala Harris, is now nearly four times as large as the Biden-inspired coin BODEN. KAMA, the meme coin of US Vice President and potential Democratic presidential candidate Kamala Harris, hit an all-time high of 2.4 cents just minutes after President Joe Biden withdrew from the White House race on Sunday (Jul 21). According to a report by CoinDesk, with a market cap of $24 million, KAMA is now nearly four times as large as the Biden-inspired coin BODEN. The report said that following Biden's announcement, BODEN fell by nearly 50 per cent. The CoinDesk report pointed out that the political shakeup prompted traders to create a wave of new tokens lampooning Harris and Biden on the meme coin launchpad Pump.fun. Also read | Joe Biden endorses Kamala Harris as Democrat presidential nominee Most of these tokens would likely crater in value as buyers and sellers play a game of order book chicken atop the Solana (SOL) blockchain, where most meme coins trade. As Biden stepped down from the presidential race, many Democrats quickly backed Harris to run as the party's presidential nominee against Donald Trump. But there are plenty of doubts inside the Democratic Party about whether Harris can beat Trump, the Republican nominee and former president. Biden himself endorsed Harris on Sunday, in a separate statement following his letter saying that he is stepping down. Also watch | Biden endorses Kamala Harris to be Democrat nominee The list of Democratic lawmakers endorsing Harris grew as the day progressed. But some powerful party leaders including former House of Representatives Speaker Nancy Pelosi, have remained silent, a report by the news agency Reuters said. Senate Majority Leader Chuck Schumer, who praised Biden's decision to step aside, also was silent on who should be the Democrats' nominee. (With inputs from agencies) Newsman. MMA Striker. None
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