KENNEDY meme coin falls 22% after RFK Jr. running mate hints at Trump support

The price of the KENNEDY meme coin tanked nearly 22% late Tuesday after Robert F Kennedy Jr’s running mate said that RFK Jr. is considering abandoning his campaign.

On late Tuesday, Aug. 20, the Robert F. Kennedy Jr.-themed meme coin KENNEDY plunged sharply after his running mate suggested in a podcast interview that RFK Jr. might withdraw from the presidential race to support former President Donald J. Trump.

In a podcast interview on the YouTube channel “Tom Bilyeu,” Kennedy’s vice-presidential candidate Nicole Shanahan revealed that the pair is now weighing in on two options: either continuing as an independent candidate or withdrawing to endorse former President Donald Trump.

“There is two options that we are looking at, and one is staying in, forming that new party, but we run the risk of a Kamala Harris and [Tim] Walz presidency because we draw votes from Trump. [Or] we walk away right now and join forces with Donald Trump… and we explain to our base why we are making this decision.”

Nicole Shanahan

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Following the statement, the price of the KENNEDY meme coin on Solana dropped by 21.8% to $0.0001384, according to data from DEXScreener. Other political meme coins had mixed reactions, with TrumpCoin (DJT) dipping 0.02% to $0.0001421, MAGA (TRUMP) down 3.26% to $2.63, and the Solana-based HARRIS coin falling over 18% to $0.0006471.

In response to Shanahan’s statement, Trump told CNN that he would “certainly” consider a role for Robert F. Kennedy Jr. in his administration if Kennedy ends his independent bid and endorses him.

The latest development comes as Democrats and Republicans take divergent stances on their crypto approaches. The Trump team is increasingly aligning with crypto supporters, with the Republican candidate appointing several pro-crypto figures to his transition team. Meanwhile, rumors suggest that Securities and Exchange Commission Chairman Gary Gensler could be nominated as Treasury Secretary if Vice President Kamala Harris wins the presidential election in November.

Read more: Trump meme coins crash, Harris Polymarket odds dip

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