The BODEN meme coin drops by a massive 57% as President Joe Biden drops out of the 2024 presidential race and endorses Kamala Harris.
President Joe Biden announced he will not seek reelection in the upcoming 2024 U.S. Presidential Election. In a statement released on Sunday, Biden emphasized that stepping down is in the best interests of both the Democratic Party and the nation.
— Joe Biden (@JoeBiden) July 21, 2024
Following this announcement, Biden expressed his “full support and endorsement” for Vice President Kamala Harris as the Democratic Party’s nominee. This endorsement was shared in a subsequent post on X.
Memecoin Market Reacts to Biden’s Decision
Biden’s decision led to significant fluctuations in the meme coin market. The Jeo Boden (BODEN) token has plummeted by 57% by this press. Conversely, tokens associated with potential contenders saw notable gains.
Kamala Horris surged by 52%, and Gabin Noosum increased by 48%. Meanwhile, meme coins linked to Republican Presidential candidate Donald Trump, notably Doland Tremp, has surged by 23% in the past 14 days.
Democratic Support for Biden Had Diminished
Support for Biden among Democratic leaders has been reportedly waning. Multiple sources indicate growing discontent within the party. Senate Democratic Leader Chuck Schumer met with Biden in Rehoboth Beach, Delaware, over the weekend.
While the meeting’s details were not disclosed, sources suggest Schumer urged Biden to withdraw from the 2024 race. This conversation reflects broader sentiments within the party about Biden’s candidacy.
Criticism of Biden’s Crypto Policies
According to The Crypto Basic, Cardano founder Charles Hoskinson recently criticized Biden’s policies regarding cryptocurrency. In a video on Cardanians.io, Hoskinson urged U.S. voters to prioritize cryptocurrency in the upcoming elections. He warned that a vote for Biden could negatively impact the American cryptocurrency industry.
Hoskinson highlighted the significance of blockchain technology in America’s future and criticized the lack of a Democratic primary that could have showcased Biden’s declining performance. He labeled Biden’s administration as harmful to the cryptocurrency sector amid a series of events and the recent pledge to veto a bill aimed at curbing the SEC’s crypto crackdown.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
