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PoliFi meme cash are tumbling after a New York Occasions report mentioned US President Joe Biden is considering his future within the 2024 presidential race.
The NYT reported that Biden advised a key ally that his viability as a presidential candidate for the Democratic Get together was on the road after his poor debate efficiency final week.
Breaking Information: President Biden advised a key ally his marketing campaign could also be unsalvageable if he can’t persuade the general public he’s up for the job. It is the primary public indication that Biden is critically contemplating whether or not he can recuperate after the talk. https://t.co/xNo2VHcnnW pic.twitter.com/UZBB27pI7q
— The New York Occasions (@nytimes) July 3, 2024
PoliFi meme cash together with Jeo Boden (BODEN) reacted negatively to the information. BODEN is down 28% within the final 24 hours and 73% within the final week.
Trump-themed meme cash have additionally not been spared. MAGA (TRUMP) and Doland Tremp (TREMP) are down 7% and 17%, respectively, up to now 24 hours.
The complete PoliFi meme coin sector has taken a beating, with its market cap plunging by 15% to round $800 million up to now day, in keeping with CoinGecko.
Polymarket Sees Elevated Odds That Joe Biden Will Drop Out
A member of the White Home refuted the NYT report, terming it “completely false,” however that didn’t ease the uncertainty.
Merchants on Polymarket have elevated their odds of Biden dropping out of the presidential race to 64%, up from the earlier 35%.
The “Biden drops out of presidential race” guess on Polymarket has garnered over $10.8 million in wagers.
The rising odds additionally come as a number of the largest donors to the Democratic Get together name upon Biden to step apart.
Netflix co-founder Reed Hastings not too long ago mentioned {that a} vigorous candidate was higher suited to run towards Donald Trump, who at the moment has a three-point lead in polls.
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