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Memecoins linked to Joe, Jill, and Hunter Biden tanked more than 60% while a memecoin tied to US Vice President Kamala Harris rallied 133% before cooling off.
Memecoins linked to United States President Joe Biden, his wife Jill, and son Hunter have fallen more than 60% since Biden officially dropped out from the 2024 presidential race.
The Joe Biden-linked Jeo Boden (BODEN) token tanked 62% in less than two hours while Kamala Horris (KAMA) token soared amid speculation that US Vice President Kamala Harris will replace Biden as the Democrat candidate.
Nearly 10 billion has been wiped from BODEN’s market cap, which stood at 16.2 billion before the news broke, CoinGecko data shows.
There are now over $200 million worth of bets on who will win the United States presidential election — now just four months out.
Decentralized predictions platform Polymarket hit $100 million in monthly trading volume in June as punters upped their stakes on how they think the United States presidential election will play out.
At the time of writing, there are $203.3 million worth of bets in “Presidential Election Winner 2024” — which consists of individual “Yes” or “No” bets across 17 prediction markets.
U.S. President Donald Trump is currently the favorite, with 62% odds that he will win the U.S. election — totaling $24.7 million in bets for and against.