KAMA Memecoin Surges Following Putin’s Endorsement of Kamala Harris
A memecoin inspired by Kamala Harris, KAMA, recently saw a surge of over 10% after the US Vice President received a public endorsement from Vladimir Putin. The Russian President voiced his support for the Democratic nominee on Thursday, contributing to a rise in the PolitiFi token’s activity.
Putin’s Support for Kamala Harris
As the US elections approach, presidential candidates continue to receive support from various industry figures, politicians, and world leaders. The Republican nominee, Donald Trump, has been endorsed by many figures in the sector, as well as former candidates who championed cryptocurrency, such as Vivek Ramaswamy and Robert F. Kennedy Jr. Meanwhile, the Democratic nominee and US Vice President Kamala Harris has also garnered support from some industry leaders and advocates, despite her unclear stance on the sector.
Most recently, Russian President Vladimir Putin joined the voices supporting Harris’s presidential campaign in the upcoming election. During a plenary session at the Eastern Economic Forum (EEF), Putin voiced his support for the US Vice President after Biden left the gathering. The Russian President had previously endorsed Joe Biden’s re-election, stating that he was his “favorite” candidate. As reported by Sputnik, Putin suggested that the Russian government would follow Biden’s “recommendation” and support the Democratic nominee: “I once said that if there were to be a favorite candidate, it would be Joe Biden, but now he’s not running. He recommended supporting [Kamala] Harris. So, that’s what we’re going to do…”
Additionally, the Russian President expressed his admiration for the US Vice President’s laughter, which also gained internet attention and inspired a series of memes using recordings of her voice. “Her laugh is so mesmerizing. It means everything is good,” stated the Russian leader.
KAMA Memecoin Jumps 16%
On Wednesday evening, Kamala Horris (KAMA), the memecoin dedicated to Kamala Harris, registered a surge of over 15% amid market fluctuations. The spike seemed to be triggered by reports suggesting that the Vice President’s campaign was accepting cryptocurrency donations via Coinbase.
Fortune reported on Wednesday that Coinbase’s Chief Financial Officer (CFO), Alesia Haas, stated that the Democratic nominee was using the platform to accept donations in digital assets. Following these suggestions, it later became clear that Harris’s campaign was not directly accepting cryptocurrency. As clarified by a Coinbase representative, the CFO’s comments seemingly referred to the Future Forward Political Action Committee (PAC), a super-PAC linked to the Democratic Party that supports the party’s candidate.
KAMA memecoin briefly became a top gainer among the PolitiFi sector tokens but quickly dropped by 11%. However, early Thursday morning, KAMA climbed another 10%, testing the $0.009 zone again. The token’s recent price action represents a 12% and 57% increase in the weekly and bi-weekly periods, respectively. Similarly, the memecoin’s daily activity has increased by 10.2% over the past 24 hours, reaching $3.2 million. At the time of writing, KAMA is trading at $0.0089, up 7.5% from the previous day.
While the recent surge in KAMA’s price could be attributed to the potential for increased awareness and interest following Putin’s endorsement, it’s important to remember that memecoins are highly volatile and speculative assets. As always, it’s crucial to conduct thorough research and invest responsibly.
