President Joe Biden's decision to withdraw from the 2024 presidential race and endorse Vice President Kamala Harris has caused volatility in the cryptocurrency market, particularly among meme coins. The Biden-themed Jeo Boden (BODEN) coin plummeted by over 50%, while the Kamala Horris (KAMA) coin surged by nearly 100%, reaching an all-time high before stabilizing. The announcement also led to increased activity on prediction markets like Polymarket, where traders have placed millions of dollars in bets on political outcomes. Trump-themed coins experienced mixed reactions, with some gaining value and others declining. Market analysts warn of the inherent risks associated with meme coins, emphasizing the need for due diligence.