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Two meme coins associated with Democratic presidential candidate Kamala Harris have experienced notable fluctuations in the last 24 hours.
Kamala Harris (HARRIS) has seen a significant 115.46% increase over the past day, currently trading at $0.001936. This surge is noteworthy given its market cap of $1.66 million and a 24-hour trading volume of $545,423. The token’s fully diluted market cap stands at $1.94 million, with a circulating supply of nearly one billion HARRIS tokens. However, there’s been a 16.06% decrease in its trading volume over the previous day, indicating some market caution.
In contrast, another Harris-themed meme coin, Kamala Horris (KAMA), is currently priced at $0.01718, up by 26.7% in the past 24 hours. KAMA has a market cap of $17.13 million and a 24-hour trading volume of $10.15 million. The token’s fully diluted valuation matches its market cap, with a total and circulating supply of nearly 995.5 million KAMA tokens. Despite this positive movement, KAMA’s historical data shows volatility, with a 25.4% drop over the past seven days but a 55.8% increase over the past 14 days.
This volatility could be a reflection of the market’s mixed reactions to political shifts and broader uncertainty in the crypto space.
Market Sentiment and Political Influence
The overall sentiment towards the HARRIS and KAMA tokens highlights the impact of political developments on the crypto market. Following President Joe Biden’s announcement of not running for re-election, Kamala Harris has positioned herself as the presumptive Democratic nominee. She has been making efforts to rebrand the Democratic Party to be more crypto-friendly, especially given the industry’s regulatory scrutiny.
The U.S. Securities and Exchange Commission (SEC) and its chair, Gary Gensler, remain contentious figures in the crypto community. Harris has reportedly initiated dialogues with major crypto firms like Coinbase, Circle, and Ripple Labs to distinguish herself from the previous administration’s stringent crypto stance. Her potential attendance at major crypto conferences and engagement with industry leaders could influence her campaign positively or negatively, depending on how convincingly she separates herself from prior policies.
Harris’ Opposition
Meanwhile, a meme coin tied to Republican nominee Donald Trump is on the decline. The MAGA (TRUMP) coin has seen a notable drop, while Harris-themed coins have rebounded. At last check, TRUMP was hovering around $4.32, down more than 4.6% with a market cap of approximately $189.7 million. This decline follows a Trump rally at the Georgia State University Convocation Center in Atlanta, where Trump made controversial claims and personal attacks against fellow Republicans.
What’s Next
The Harris campaign is hosting a roundtable event on Aug. 5 featuring prominent figures from both her election campaign and leaders from the crypto community. This is part of the Democrats’ effort to reshape how crypto enthusiasts perceive the party ahead of Election Day on Nov. 5. Crypto expert and former Binance adviser David Plouffe, who also serves as a global strategic advisor to Alchemy Pay, is reportedly advising Harris.
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