Danny is CoinDesk's Managing Editor for Data & Tokens. He owns BTC, ETH and SOL.
Crypto traders are once again betting on the very serious business of presidential politics via very silly meme coins, including one for Vice President Kamala Harris that more than doubled in price Sunday.hit an all-time high of 2.4 cents in the minutes following President Joe Biden's announcement that he was dropping his re-election campaign.
, once the kingmaker crypto of so-called PolitiFi. fell by nearly 50% following Biden's announcement.The political shake-up prompted traders to create a wave of new tokens lampooning Harris and Biden on the meme coin launchpad. If history is any guide, most of those tokens will likely crater in value as buyers and sellers play a game of order book chicken atop the Solanain a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin.
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