Bitrabo Editorial
US President Joe Biden will not run in the 2024 election due to poor debate performance and Democratic party pressure. He emphasized the need for fresh leadership to unite the party and country, endorsing Vice President Kamala Harris as his successor.
“I believe it is time for fresh leadership that can unite our party and our country,” Biden said. “I totally support Vice President Kamala Harris and am confident she will guide us to triumph.”
Kamala Harris Emerges as Democratic Front-Runner
Vice President Kamala Harris quickly became the Democratic nominee front-runner after receiving Biden’s endorsement. With the support of several Democratic leaders, she vowed to earn the party’s candidacy, gaining momentum to combat the potential return of former President Donald J. Trump.
Harris’s popularity extends to the sales of political joke coins. The Kamala Horris meme coin saw a significant 110.4% increase to $0.02403, reflecting investors’ confidence in Harris’s political future.
Market Predictions and Political Tokens
Market data from Polymarket indicates that Kamala Harris has an 84% chance of winning the Democratic nomination, with $18,908,527 in bets. Other potential nominees such as Michelle Obama, Gavin Newsom, and Hillary Clinton lag far behind in probabilities.
Despite Biden’s withdrawal, he still holds less than 1% probability of securing the nomination, supported by $43,852,010 in bets. In contrast, former President Donald Trump is favoured to win the presidency, with a 64% probability and $38,199,990 in bets in his favor.
Harris follows Trump with a 30% chance of winning, supported by bets of $20,334,255. The market for political meme coins also reacted to Biden’s announcement, with coins like Gabin Noosum dropping by 72.1% and Jeo Boden falling by 55%.
As the Democratic primary heats up and the general election approaches, all focus is on Harris. The dynamic interplay between political developments and meme currencies highlights the unique nature of the 2024 election cycle.
Featured image from CNN, chart from TradingView