Kamala Horris (KAMA) Meme Coin Soars 30% as Obama Backs Harris for President

Kamala Horris (KAMA) meme coin is up 30% on Friday. It comes after former US President Barrack Obama declared support for Democrat ticket nominee Kamala Harris.

Harris will go against Donald Trump in the November election, with winning odds now up on Polymarket following the endorsement.

President Obama Endorses Kamala Harris

Former President Barack Obama and his wife expressed their support for Kamala Harris, shortly after President Joe Biden announced his withdrawal from the presidential race. With Biden stepping aside, Harris has emerged as the leading candidate.

“Earlier this week, Michelle and I called our friend Kamala Harris. We told her we think she’ll make a fantastic President of the United States and that she has our full support. At this critical moment for our country, we are going to do everything we can to make sure she wins in November. We hope you will join us,” Obama wrote.

The announcement comes after speculation that Obama did not support Harris. Reportedly, a Biden source told The Post, “Obama is very upset because he knows she [Harris] cannot win.” These developments have sparked widespread remarks on social media platforms, especially on X (formerly Twitter).

Read more: 7 Hot Meme Coins and Altcoins that are Trending in 2024

Notwithstanding, sentiment shifted for Kamala Harris polls. Based on the Polymarket prediction market, the odds are up to 38%, effectively closing in on Donald Trump. This shift is mostly a speculative bet on Harris’s political future. Nevertheless, it is the same buzz that saw Polymarket’s monthly volume skyrocket to new all-time highs.

Presidential Election Winner Odds, Source: Polymarket

In related news, Trump has pulled back from the September 10 debate he was to have with Harris.

“Trump agreed on a September 10 debate. It now appears he’s backpedaling. Voters deserve to see the split screen that exists on a debate stage. I’m ready. So let’s go,” Harris shared.

Meanwhile, Obama’s endorsement of Kamala Harris seems to have ignited the crypto community’s interest. Crypto Degens swiftly pivoted investments toward Kamala Horris. CoinGecko data shows KAMA price is trading at $0.03116, a 30% increase since Friday’s opening and a fully diluted valuation (FDV) above $31 million.

KAMA has outperformed the Trump-inspired meme coins, MAGA and TREMP, which are up only 10%. However, investors should exercise caution, given KAMA, like any other meme coin, can be notoriously volatile and influenced entirely by sentiment.