Joe Biden abandons cryptocurrencies: What will happen to political memecoins?
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IN BRIEF
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In an unexpected turn, Joe Biden takes a step back from his commitment to cryptocurrencies, leaving investors and enthusiasts of digital economies in palpable confusion. As memecoins, digital assets influenced by humor and internet culture, gain skyrocketing popularity, their connection to the political landscape becomes increasingly elusive. Could this change of course signal the end of this speculative bubble or, conversely, the beginning of a new era for these often-ridiculed cryptocurrencies? The future of political memecoins appears uncertain, swinging between fantasy and reality, in a world where tweets and memes shape the economy as much as the rhetoric of leaders.
A decision that makes waves
As the American presidential elections are in full swing, the political scene is shaken by the announcement of Joe Biden’s withdrawal from the race. This decision is not without consequences for the world of cryptocurrencies, particularly regarding political memecoins.
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The Biden shock and its repercussions
Biden’s decision to abandon cryptocurrencies has immediately impacted the market, triggering a wave of uncertainty. Investors are now questioning the future of memecoins, which have thus far surfed on the popularity of political figures.
Memecoins in trouble
With Biden’s withdrawal, some memecoins aiming to capitalize on his image are in free fall:
- Jeo Boden (BODEN): -56%
- Jill Boden (JILLBODEN): -82%
- Hunter Boden (HUNTBODEN): -31.5%
An uncertain future for political actors
Speculation is now turning towards the possibility of seeing other political figures, like Kamala Harris, take over the memecoins. This evolution could reshape the crypto ecosystem by favoring new projects.
Comparison table of memecoins
| Memecoins | Change (%) |
| Jeo Boden | -56 |
| Jill Boden | -82 |
| Hunter Boden | -31.5 |
| Kamala Horris | +130 |
| Maga (TRUMP) | -6 |
Impact of political movements
- Biden’s withdrawal = Devaluation of political memecoins
- Future candidates are scrutinized by investors
- Kamala Harris could emerge as a new figure for memecoins
- Recalibration of crypto investment strategies
- Possible resurgence of interest depending on political outcomes
Frequently Asked Questions
Why did Joe Biden abandon cryptocurrencies? Due to his withdrawal from the presidential campaign, he has relegated the importance of cryptocurrencies in his agenda.
What are the immediate impacts on memecoins? Memecoins directly related to Biden have suffered significant losses, affecting investor confidence.
Does Kamala Harris have a chance to benefit from this situation? Yes, several memecoins linked to Kamala Harris are already showing an upward trend since Biden’s announcement.
What factors could influence the cryptocurrency market? Changes in the political landscape, new candidacies, and election results can all have a significant impact on the market.
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