Kamala Horris (KAMA), the meme coin linked to present US Vice President Kamala Harris, is down 28% within the final seven days. This growth comes following rising odds that Republican candidate and former president Donald Trump might win the subsequent elections.
About one week in the past, KAMA’s worth was $0.0087. Immediately, the cryptocurrency is buying and selling at $0.0059, and this evaluation explains why the worth of meme cash would possibly proceed to sink.
The Kamala Harris meme coin decline might be linked to the truth that the percentages are clearly in favor of Trump successful the election. A number of weeks again, each candidates have been at loggerheads, because the bettors on the decentralized betting platform Polymarket have been divided about who would win the election.
Nonetheless, as of this writing, issues have modified. In line with Polymarket bets, Trump’s possibilities of turning into US president by subsequent month have surged to 59.7%. Harris, however, lags with 40.2% within the VP’s favor.
As beforehand reported, crypto seems to play a key half in potential voters’ decision-making. Whereas Trump has repeatedly declared his help for the business and launched a token, Harris seems to be on the sidelines although a current motion exhibits she has modified her stance.
Learn extra: What Are Meme Cash?
US Presidential Election Winner Odds. Supply: Polymarket
Following this growth, the Bull Bear Energy (BBP) exhibits an enormous decline on the KAMA/USDT 4-hour chart. The BBP measures the power of consumers (bulls) in comparison with sellers (bears).
When the studying rises, bulls are in management, and the worth can improve. However on this case, the indicator’s studying has dropped, suggesting that bears are dominant. If this stays the identical, then KAMA’s worth might decline a lot additional.
Kamala Horris Bull Bear Energy. Supply: TradingView
KAMA Worth Prediction: Continued Decline Anticipated
Trying on the 4-hour chart, KAMA’s worth is under the important thing Exponential Transferring Averages (EMA). As seen under, the 20 EMA (blue) and 50 EMA (yellow) are all above the meme coin’s worth.
Assuming KAMA’s worth was above the EMA, the development would have been bullish. However since it’s under it, Kamala Horris’s development is bearish and would possibly proceed to stay like that within the brief time period. The buying and selling quantity additionally declined and confirmed excessive promoting stress, reinforcing the bearish bias.
Learn extra: 11 Prime Solana Meme Cash to Watch in October 2024
Kamala Horris Worth Evaluation. Supply: TradingView
Ought to this keep the identical, KAMA’s worth would possibly plunge to $0.0051. Nonetheless, if Kamala Harris’ odds of successful the elections enhance, the meme coin would possibly expertise a rebound towards $0.0073.
