KAMA Memecoin Soars 10% Following Putin’s Endorsement

A Kamala Harris-inspired memecoin recently jumped over 10% after the US Vice President received public endorsement from Vladimir Putin. The Russian president expressed his support for the Democratic candidate on Thursday, fueling a surge in the PolitiFi token’s activity.

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Putin Endorses Kamala Harris’ Campaign

As the US elections get closer, the presidential candidates continue to receive support from various industry figures, politicians, and world leaders. Republican candidate Donald Trump has been endorsed by many figures in the sector and pro-crypto former candidates like Vivek Ramaswamy and Robert F. Kennedy Jr.

Meanwhile, the Democratic nominee and US VP, Kamala Harris, has also received support from some industry executives and advocates despite her unclear stance on the sector. Most recently, Russian President Vladimir Putin joined the voices advocating for Harris’ presidential campaign for the upcoming elections.

During the plenary session at the Eastern Economic Forum (EEF), Putin shared his support for the US VP following Biden’s rally dropout. The Russian president had previously endorsed Joe Biden’s reelection, stating he was his “favorite” candidate.

As reported by news outlet Sputnik, Putin suggested that the Russian government would follow Biden’s “recommendation” and support the Democratic candidate:

I once said that if we can name a favorite candidate, it would be Joe Biden, but now he’s not participating in the election campaign. He recommended supporting [Kamala] Harris. So, that is what we are going to do…

Additionally, the Russian president expressed a fascination for the US VP’s laugh, which has also captivated the internet’s attention and inspired a series of memes using recordings of her voice. “Her laugh is so fascinating. It means that everything is good,” stated the Russian leader.

KAMA Memecoin Jumps 16%

On Wednesday night, Kamala Horris (KAMA), a Kamala Harris-themed memecoin, registered a jump of over 15% amid the market fluctuation. The surge was seemingly fueled by reports claiming the VP’s campaign was accepting crypto donations through Coinbase.

Yesterday, Fortune reported that Coinbase’s Chief Financial Officer (CFO), Alesia Haas, stated that the Democratic candidate was using the platform to accept donations in digital assets. Following the speculation, it was later revealed that Harris’ campaign wasn’t directly accepting crypto.

As a Coinbase representative clarified, the CFO comments seemingly referred to the Future Forward Political Action Committee (PAC), a Democratic Party-aligned super PAC, dedicated to supporting the party’s nominee.

The KAMA memecoin momentarily became the largest gainer among the top tokens in the PolitiFi sector, but quickly retraced 11%. However, in the early hours of Thursday, KAMA surged another 10%, retesting the $0.009 zone again.

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The token’s recent price action represents a 12% and 57% increase in the weekly and biweekly timeframes. Similarly, the memecoin’s daily activity increased by 10.2% in the last 24 hours, reaching $3.2 million.

As of this writing, KAMA is trading at $0.0089, a 7.5% increase in the past day.

Featured Image from Unsplash.com, Chart from TradingView.com