Biden-Associated Memecoin Stuns Markets With 5,000% Surge


The memecoin frenzy has struck once more, and this time it’s centered across the likeness of US President Joe Biden. BODEN, a token named after the president, has skilled – at one level – a mind-boggling surge in worth, skyrocketing by a jaw-dropping 5,000%, in line with CoinMarketCap.

BODEN’s meteoric rise is only one instance of the broader development of meme cash searching for to capitalize on the recognition of distinguished figures, be they politicians or celebrities. These tokens goal to draw traders searching for fast income by leveraging the celebrity of their namesakes.

Memecoin Fever: BODEN Makes Massive Noise

Buying and selling information from CoinMarketCap reveals that BODEN, a Solana-based meme coin, has seen an astronomical rise of over 2,400% throughout the final 24 hours, marking a milestone within the crypto world. With a buying and selling worth of roughly $0.018, this quirky digital asset has amassed a staggering market quantity of $24 million in a mere day.

BODEN token worth. Supply: CoinMarketCap

The surge in BODEN’s worth has ushered in a brand new wave of meme cash, as builders seize the chance to capitalize on the hype and attract traders searching for swift beneficial properties.

Trump Memecoin Additionally In The Highlight

In the meantime, the cryptocurrency TRUMP, related to Donald Trump, not too long ago dropped to $8.08, though it nonetheless maintains a significantly increased worth in comparison with its year-end worth. Regardless of not being straight linked to politicians, Trump had beforehand acquired over 579,000 TRUMP tokens from the venture group.

Whole crypto market cap at $2.44 trillion on the each day chart:

The asset skilled a big surge in January 2024, reaching a price of $4 million in Trump’s pockets, in comparison with buying and selling between $0.01 and $0.08 in November 2023. The worth improve is attributed to political victories by each Biden and Trump in the course of the Tremendous Tuesday contests, with Trump successful in 14 out of 15 states because the Republican candidate.

BODEN Flexes Muscle mass

Nonetheless, BODEN has taken middle stage this week, surpassing even the beloved Dogecoin (DOGE), the pioneer meme coin on Solana. BODEN’s efficiency has even outshined dogwifhat (WIF) and Bonk’s BONK, solidifying its dominance within the meme coin realm.

Amidst the meme coin frenzy, let’s not neglect the reigning king of the crypto world—Bitcoin (BTC). The main digital foreign money skilled a fleeting second of glory because it soared to a brand new all-time excessive of $69,300, a report not seen since 2021. Nonetheless, the joy was short-lived as BTC rapidly retracted to as little as $60,000, inflicting a billion-dollar wipeout available in the market.

Featured picture from AFP; Getty Pictures, chart from TradingView

Disclaimer: The article is supplied for instructional functions solely. It doesn’t characterize the opinions of NewsBTC on whether or not to purchase, promote or maintain any investments and naturally investing carries dangers. You might be suggested to conduct your individual analysis earlier than making any funding choices. Use info supplied on this web site totally at your individual threat.


Leave a comment