Kamala Harris’ Crypto Pivot Boosts HARRIS, KAMA Meme Coins

Two meme coins, inspired by the new Democratic presidential candidate Kamala Harris, have undergone significant fluctuations in the past 24 hours. One of these coins, Kamala Harris (HARRIS), has skyrocketed by an impressive 115.46% over the past day, currently trading at $0.001936. With a market cap of $1.66 million and a 24-hour trading volume of $545,423, this surge is quite noteworthy. The token’s fully diluted market cap stands at $1.94 million, with almost one billion HARRIS tokens in circulating supply. However, investors are exercising caution, as reflected in a 16.06% decrease in trading volume compared to the previous day. Meanwhile, Kamala Horris, another Harris-themed meme coin, is showing a different trend. Its price has risen by 26.7% in the past 24 hours, currently trading at $0.01718. With a market cap of $17.13 million and a 24-hour trading volume of $10.15 million, Kamala Horris is making its own waves in the cryptocurrency market. These two coins, riding on the popularity of Kamala Harris, are definitely ones to watch in the coming days.

The token’s fully diluted valuation closely aligns with its market cap, featuring a total and circulating supply of approximately 995.5 million KAMA tokens. Although KAMA has shown recent growth, its historical data reveals significant price swings. In the last week, KAMA has experienced a 25.4% dip, yet it has climbed 55.8% in the past 14 days. This price volatility likely reflects the crypto market’s fluctuating responses to political changes and the prevailing uncertainty in the digital currency realm. Investors should brace for potential fluctuations as KAMA navigates this dynamic landscape.

• The Bigger Picture: How Do Market Sentiment and Political Influence Shape Each Other?
• Harris Seeks Opportunity for Promotion
• What’s Coming Next?

The Bigger Picture: How Do Market Sentiment and Political Influence Shape Each Other?

The sentiment surrounding the HARRIS and KAMA tokens underscores how political shifts can significantly influence the cryptocurrency market. As Harris emerges as the presumptive Democratic nominee after President Biden’s announcement of not seeking re-election, she is working to reshape the Democratic Party’s image, aiming to make it more welcoming to the crypto industry. This effort becomes particularly relevant as the crypto sector faces increasing regulatory scrutiny. Harris’ engagement with key crypto players such as Coinbase, Circle, and Ripple Labs marks a departure from the previous administration’s strict stance on cryptocurrencies, signaling a potential shift in the political landscape that could bode well for the crypto community. The U.S. Securities and Exchange Commission (SEC), under the leadership of Biden-nominated chair Gary Gensler, remains a source of controversy for many in the crypto world. Harris’ outreach to major crypto companies suggests she intends to chart a different course, potentially easing regulatory pressures and fostering a more positive environment for the industry.

Her attendance at major crypto conferences and engagement with industry leaders presents a double-edged sword for her campaign. It could either strengthen her position by showcasing a clear departure from previous policies or backfire if she fails to convince. All eyes are on how she navigates this high-stakes crypto world.

Harris Seeks Opportunity for Promotion

As the Republican nominee Donald Trump’s rally at the Georgia State University Convocation Center in Atlanta wraps up, the MAGA (TRUMP) coin tied to him experiences a significant downtrend. In contrast, Harris-themed coins are enjoying a remarkable rebound. Currently, the maga coin is hovering at approximately $4.32, experiencing a decline of over 4.6% with a market capitalization of about $189.7 million. This downturn may be attributed to Trump’s controversial statements during the rally, where he falsely claimed victory in Georgia during the 2020 election and personally attacked Georgia Governor Brian Kemp and Secretary of State Brad Raffensperger. Despite this, Harris-themed coins are on the rise, indicating a shift in investor sentiment following Trump’s rally.

What’s Coming Next?

According to Bloomberg, the Harris campaign is organizing a high-profile roundtable on August 5th, gathering key players from her electoral team and cryptocurrency leaders. This strategic move by the Democrats aims to redefine their image among crypto enthusiasts before the November 5th Election Day. Notably, David Plouffe, a crypto expert and former advisor to Binance, who also served under President Barack Obama, is reportedly counseling Harris. Additionally, Plouffe holds the position of global strategic advisor at Alchemy Pay, a leading provider of fiat-crypto payment solutions. This event marks the latest effort by the Democratic party to align with the crypto community and shape its future.