Solana ecosystem’s popular memecoin project Kamala Horris (KAMA) increased by 30% on July 26. This came after former US President Barack Obama announced his support for Democratic candidate Kamala Harris. Harris will compete against Donald Trump in the November elections, and her winning odds continue to rise with Polymarket’s support.
Support Message for Harris
Former President Barack Obama and his wife expressed their support for Kamala Harris immediately after President Joe Biden announced his withdrawal from the presidential race. With Biden’s withdrawal, Harris emerged as the leading candidate. Obama shared the following statements on the matter:
“Earlier this week, Michelle and I called our friend Kamala Harris. We told her she would make a great President of the United States and that she has our full support. At this critical moment for our country, we will do everything we can to ensure her victory in November. We hope you will join us.”
The announcement came after speculations that Obama did not support Harris. Reportedly, a source from Biden told The Post that Obama is very upset because he knows she can’t win. These developments led to widespread comments on social media platforms, especially on X.
What’s Happening in the Memecoin Space?
Meanwhile, the process is changing for Kamala Harris polls. According to Polymarket data, the odds are rising to 38%, effectively approaching Donald Trump. This change is mostly speculative about Harris’s political future. Nevertheless, the same process is causing Polymarket’s monthly volume to soar to all-time highs.
In related news, Trump backed out of the September 10 debate with Harris. Harris shared the following statements on the matter:
“Trump agreed to the September 10 debate. Now he seems to be backing out. Voters deserve to see the split screen that exists on a debate stage. I am ready, let’s go.”
Meanwhile, Obama’s support for Kamala Harris seems to have ignited the interest of the crypto community. Crypto Degens quickly shifted their investments to Kamala Horris. CoinGecko data shows that KAMA’s price has increased by 30% since the opening on July 26, trading at $0.03116 with a fully diluted valuation (FDV) of over $31 million.
KAMA outperformed Trump-inspired memecoin projects MAGA and TREMP, which only showed a 10% increase. However, investors should be cautious as KAMA, like other memecoin projects, can be extremely volatile and driven entirely by sentiment.
