Meme coin ‘Jeo Boden’ soars 25% after Trump dissent

The “Jeo Boden” memecoin has taken the cryptocurrency world by storm, in the wake of a lukewarm comment from former US President Donald Trump. THE wacky cryptocurrency, a joking misspelling of President Joe Biden’s name, saw a huge surge after Trump mentioned it at an NFT event in Florida.

What was once a topic of fun has now become a serious investment, with Boden up 20% following Trump’s offhand remark.

Trump rally or fleeting frenzy? Analysts divided

The cryptocurrency community is divided on the impact of Trump’s mention of Boden. Some analysts, such as Samantha Wilkins, believe that any mention by a prominent figure like Trump is positive for the memecoin. They argue that Boden has proven to be a tenacious and astute investment, and that the excitement around it has only grown following Trump’s remark.

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However, some experts remain skeptical. They warn that Boden’s value is based on hype rather than utility, making it susceptible to rapid market changes. A single negative tweet from Trump or a change in market sentiment could bring Boden down as quickly as he rose.

Will Trump revive the market?

Adding another layer of intrigue to the Boden saga, prediction platform Polymarket created a contract by speculating on the probability that Trump will mention memecoin again before July. Currently, the contract’s “yes” shares are trading at $0.05, indicating an 11% chance that Trump will say the word “Boden” in the coming months.

Source: Polymarket

This unique situation presents an unusual scenario where the value of a memecoin depends on the whims of a former president. If Trump revisits Boden in a future speech or tweet, it could trigger another price increase.

However, if he remains silent, the current hype around Boden could fade away, leaving investors with a devaluing digital punchline.

Jeo Boden is currently trading at $0.2799. Chart: TradingView

Boden: a bet on speculation

Boden’s rise serves as a cautionary tale for memecoin enthusiasts. While these tokens can offer explosive returns, their value is often tied to fleeting trends and external factors beyond their control. With the enigmatic Trump as a wildcard influence, Boden’s future remains uncertain.

Investors eagerly await the next chapter in this bizarre cryptocurrency story as the Boden saga continues to unfold. It is a bet on speculation, where the value of the currency teeters on the edge of uncertainty. The Boden phenomenon highlights the unpredictable nature of memecoins and the risks associated with investing in such volatile assets.

Featured image from Reddit, chart from TradingView

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