Joe Biden withdrew from the US Presidential race, the price of memecoin BODEN plummeted

On the evening of July 21, President Joe Biden announced that he would not run for re-election in 2024 and expressed support for Vice President Harris to become the candidate to replace him.

On the evening of July 21, US President Joe Biden officially announced his withdrawal from the 2024 presidential election. In his statement, Biden did not specify the specific reason for the withdrawal, only stating that that it was in the "best interests of the party and the nation".

However, the reason may be because the President has continuously lost the support of voters in recent times because of his uncertain "performances" in debates before the election, as well as the recent incident. He was diagnosed with COVID-19 and had to be quarantined, threatening to miss the key campaign period at this time.

He also expressed support for Vice President Kamala Harris as a candidate to replace him in the race for the White House.

Ms. Kamala Harris then also expressed her honor to receive the President's support and fully wanted to participate in the election race. However, Ms. Harris still does not have a clear stance on crypto.

On Polymarket, Biden's odds of winning the election have fallen below 1%, while Kamala Harris's odds have now increased to 31%. Trump's rating remained the same at 64%.

Immediately after Biden's announcement, the price of the memecoin bearing his name, Jeo Boden (BODEN), plummeted 63%. Meanwhile, other memecoins linked to potential candidates surged, with the Kamala Horris token up more than 102% and Pepe up 106.6%. Memecoin Doland Tremp, a reference to Donald Trump, is up just slightly more than 10%.

Bitcoin price also had a backlash when Mr. Biden announced he would no longer run for the election, falling from $67,400 to $65,777, before resuming its upward momentum to nearly $68,500 on the morning of July 22.

Over the past several months, Mr. Biden has faced pressure from many sides, including senators and former President Barack Obama, asking him to withdraw from the race. The 52nd President of the United States Nancy Pelosi also told Biden that polls show he cannot defeat Donald Trump and that his continued candidacy could reduce the Democrats' chances of winning the House of Representatives. .

In addition, Republican candidate Donald Trump, after his "failed assassination", continued to promote his pro-crypto stance. Recently, the former President planned to release a fourth NFT collection after the success of the previous three collections, and also selected pro-crypto Senator J.D. Vance as Vice Presidential candidate for the White House race.

Donald Trump also emphasized the importance of the United States taking the lead in the crypto industry to prevent other countries from taking over. In an interview with Bloomberg, Trump stated:

“This is a young field, but I don't want to be responsible for letting another country take over crypto.”

After Joe Biden announced his withdrawal from the race, Donald Trump appeared very confident that defeating Ms. Kamala Harris would be easier than facing Mr. Biden.

However, the community is in uproar over the Simpsons' video with extremely accurate predictions about previous events. An X account named Shadow of Ezra shared the 17th episode of season 11 of "The Simpsons" shown in 2000 with the scene where Lisa Simpson becomes the first female president of the United States, wearing a similar outfit. like Ms. Kamala Harris at Joe Biden's inauguration, causing many people to speculate that Ms. Harris is still likely to win the election taking place on November 4.

If Ms. Harris becomes the Democratic Party's presidential candidate, she will be the first woman of Asian descent and color to represent a major party in the race for the White House in American history.