CandleFocus Donald Trump Soaring Election Odds Sends Kamala Harris Meme Coin Down By 28%
2024-10-16
Author: Content Editor
The Kamala Horris (KAMA) meme coin, linked to US Vice President Kamala Harris, has dropped by 28% in the last week, potentially due to increasing odds of a victory for former President Donald Trump in the next election. The decline in value of meme coins may continue as a result. Trump's chances of becoming president again have surged to 59.7% according to bets on the decentralized betting platform Polymarket, while Harris lags behind with 40.2% in her favor. The decline in KAMA's value is reflected in the Bull Bear Power (BBP) indicator, which suggests that sellers are dominant. The coin's price is also below key Exponential Moving Averages (EMA), indicating a bearish trend in the short term. If the current conditions persist, KAMA's price may drop further to $0.0051, but an improvement in Harris' odds could lead to a rebound to $0.0073.
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