As reviews began to flow into early Tuesday that Minnesota Governor Tim Walz had been chosen as Kamala Harris’ working mate, the costs of Walz-related meme cash soared. However the good points would not final for lengthy.
The week-old “Tem Walz” (WALZ), an deliberately misspelled Solana meme coin persevering with the pattern of different comparable political meme cash, was the largest winner of the day, peaking at a market cap of almost $1 million. However it has fallen sharply since to a present market cap of simply $254,000.
Equally, an Ethereum meme coin merely referred to as Tim Walz (additionally WALZ) noticed a 208% pump because the information got here in, peaking at a market cap of $707,000. However it has equally plummeted to a market cap of $303,000 as merchants cashed out on the short-lived hype and brought on momentum to crash.
JD $VANCE may not like childless cat girls, however he’s a whimpy crying little mutt himself!#BIDEN $BIDEN $KAMALA $HARRIS #CRYPTOMOONSHOTS #1000XGEMS #ALTCOINS #MEMECOINS #SHITCOINS pic.twitter.com/Es9cF9aqVs
— Tim Walz on Ethereum (@TimWalzERC) August 6, 2024
Walz was formally introduced Tuesday because the vice presidential choose of doubtless Democratic presidential nominee Kamala Harris, the present U.S. Vice President below Joe Biden. However hypothesis across the choice began earlier within the day, impacting not solely meme coin costs but additionally the betting pool on main crypto prediction markets platform Polymarket.
Photographs of black SUVs leaving Walz’s home started to flow into on Twitter, which brought on the Solana WALZ token to soar 173% in simply 18 minutes. Whereas the SUVs raised suspicions, there hadn’t been any official reviews at the moment that Harris had chosen Walz, and the worth dipped quickly after the spike.
However at 8:48am ET, CNN reported that it had realized that Harris had picked Walz as her working mate over different contenders like Pennsylvania Governor Josh Shapiro, inflicting the token to pump an extra 31% to a market cap of $990,000. And never solely did the WALZ token soar, however the creator says he’s additionally a fan of the VP choice.
“I am so comfortable that Walz was picked. Shapiro would not appear real,” the pseudonymous creator of Tem Walz, Cryptocy, instructed Decrypt. “I’ll positively vote for Kamala Harris now. If she picked Shapiro, I might haven’t voted in any respect.”
it wuz a protracted jurnee, however we preevaled. subsequent stup, teh White Home @kamalahorriss 🇺🇸$walz pic.twitter.com/tISniLRw5q
— tem walz — $walz (@tem_walz) August 6, 2024
On the flip aspect, nevertheless, tokens impressed by potential different VP picks crashed onerous after the Walz information began spreading. “Josh Shapero” (SHAPERO), an deliberately misspelled Josh Shapiro meme coin on Solana, dropped 94% in simply half an hour because the information broke. Beforehand at a market cap of $726,000, it now sits at simply $11,000.
As the worth of SHAPERO dropped, the pseudonymous creator AM alleged within the coin’s Telegram channel that it was simply “intentional FUD being unfold”—aka “concern, uncertainty, and doubt” orchestrated to push down the worth.
4 minutes later, CNN reported that Walz would certainly be Harris’ working mate.
“Oh my fuckin’ god, who rugged my bag?” one SHAPERO investor responded within the chat.
Edited by Andrew Hayward
