With a market capitalization of $2M, the memecoin is now worth almost four times more than BODEN, once the most important cryptocurrency in the so-called PolitiFi. BODEN dropped nearly 50% following Biden’s announcement.
The political shake-up prompted traders to create a wave of new tokens mocking Harris and Biden on the memecoin launchpad Pump.fun. Based on past trends, most of these tokens are likely to drop in value.
Biden endorsed Harris’s presidential campaign. Former President Bill Clinton, former Secretary of State Hillary Clinton, and crypto-critic Senator Elizabeth Warren have also shown their support for Harris.
In her statement, Harris said it was an honor to receive the president’s endorsement and that she intends to earn and win this race. The presidential candidate declared she would do everything possible to unite the Democratic Party and defeat Donald Trump with his extreme “Project 2025” agenda.