The Meme Coin Market Reacts to Super Tuesday: Biden and Trump Presidential Candidates
The meme coin market experienced a surge in growth following Super Tuesday in the United States, where Joe Biden and Donald Trump were named presidential candidates. Meme coins based on the Solana blockchain have emerged as leaders in this market-wide rise. Notably, the jeo boden (BODEN) token, inspired by Bidenโs name, has seen an astounding increase of over 4,700% according to CoinMarketCap. Currently, the asset is trading at $0.04, while its initial launch price fluctuated around $0.002.
Conversely, the Donald Trump-related cryptocurrency TRUMP has experienced a decline in price, falling to $8.08. Nevertheless, the tokenโs value remains considerably higher than its worth at the end of last year.
BODEN Token: The Biden-Inspired Meme Coin
- The BODEN token is not directly associated with Joe Biden.
- However, Trump received 579,281 TRUMP tokens from the project team.
- In January 2024, the TRUMP token saw a significant increase in value.
- Between November 2023 and February 2024, the TRUMP token traded between $0.01 and $0.08.
- By the end of February, the value of Trumpโs TRUMP meme coin portfolio in his wallet had risen to $4.05 million.
The sudden surge in prices for these meme coins can be attributed to the political victories of both Biden and Trump during Super Tuesday contests. Trump secured his position as the Republican candidate in 14 out of 15 states, while Biden only lost the primary in American Samoa.
Noah Rypton stands as an enigmatic fusion of crypto analyst, relentless researcher, and editorial virtuoso, illuminating the uncharted corridors of cryptocurrency. His odyssey through the crypto realms reveals intricate tapestries of digital assets, resonating harmoniously with seekers of all stripes. Noah’s ability to unfurl the labyrinthine nuances of crypto intricacies is elegantly interwoven with his editorial finesse, transmuting complexity into an engaging symphony of comprehension.