Memecoins
BODEN Loses to TRUMP in Memecoin Race: Here’s What Happened
- The presidential debate caused both TRUMP and BODEN to drop significantly in prices.
- TRUMP’s popularity has waned in recent days.
The recent US presidential debate took the internet by storm. Memes and jokes about both presidential candidates have flooded social media platforms.
The saga of TRUMP and BODEN
Amid all the buzz, attention around the PolitiFi memecoins TRUMP and BODEN, which are based on presidential candidates, has increased significantly in recent days.
However, not all of the attention these tokens have received has been positive. In the last 24 hours, the price of the BODEN token has dropped by 26%. While this price drop was drastic, it was not sudden.
After June 31, the price of BODEN started to rise dramatically. During this period, the price of BODEN showed multiple lower lows and lower highs, indicating a downtrend.
At the time of writing, BODEN was trading at $0.08186. The relative strength index for BODEN has declined substantially during this period, indicating that the bullish interest in BODEN has waned.
Furthermore, the Chaikin Money Flow for BODEN has also decreased, which suggests that the money flow to BODEN has decreased significantly.
Source: Commercial View
TRUMP, however, has not seen as significant a price drop as BODEN. In the last 24 hours, TRUMP has dropped 7% in price. While this price drop was significant, it was small compared to BODEN’s recent price movement.
However, just like the price movement of BODEN, the TRUMP token also showed signs of a bearish trend before its price dropped so substantially. Along with that, the social volume around the token also decreased, indicating that the popularity around the TRUMP token had waned.
Additionally, the weighted sentiment around the TRUMP token had also decreased, implying that negative comments around TRUMP outweighed positive ones at the time of writing.
Source: Santiment
What’s next?
Even though the TRUMP token was not doing well in terms of social media metrics, the presidential candidate the token is based on was doing relatively well.
Recent data shows that Donald Trump’s chances of winning the 2024 presidential election have risen to a new high of 63%. Since the discussions began, the odds of Trump winning the election have increased by more than 10%.
The odds of President Biden winning a second term have dropped from 48% to 37%.
Markets believe that Donald Trump will become the next president. This could have a positive impact on the price movement of the TRUMP token in the future.
Source: X