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Trump mocks ‘Boden’ Memecoin’s $240 million market cap
Last updated: May 9, 2024 02:05 EDT | 1 minute read
Donald Trump, an aspirant for the US presidency in 2024, is not very interested in the “Jeo Boden (BODEN)” memecoin, a joke crypto token that imitates current President Joe Biden.
Former President Trump, answering questions from fans, mocked the memecoin after hearing that the token had reached a market capitalization of $240 million.
“That’s a lot of money for one coin, I don’t like this investment,” he noted.
Trump keeps talking $BODEN at the NFT event
“That’s a lot of money for one coin, I don’t like that investment”
Audio Source: @realDannyNelson pic.twitter.com/8NcpuCc6ZI
— db (@level10k) May 9, 2024
His remarks came during a Trump NFT special event for starters to be held Wednesday at his Mar-a-Lago resort in Florida.
Last month, SolanaMemecoins based on Biden and Trump caricatures have seen huge gains, according to blockchain data from DexScreener.
Crypto tokens referencing a misspelling of both candidates – “Jeo Boden” and “Doland Tremp” – have crashed into trading. At one point, “Jeo Boden” and “Doland Tremp” saw market caps of $473 million and $83 million, respectively.
Memecoins have gained popularity on the Solana blockchain in recent times, thanks to its speed and low transaction costs. SOL-based memecoins have a combined market capitalization of $7.31 billion as of this writing CoinGecko data.
The embattled former leader is also open to cryptocurrency donations for the campaign. When asked by the crowd: “Can we donate using cryptocurrencies?” Trump noted, “If you can’t, I’ll make sure you can.”
BREAKING: DONALD TRUMP ASKED “CAN WE DONATE USING CRYPTO?”
“IF YOU CAN’T, I’LL MAKE SURE YOU CAN” pic.twitter.com/Nm2YjqxwSI
— Frank (33.3%) (@frankdegods) May 9, 2024
Boden Memecoin Rises 25%
On Wednesday, following Trump’s remarks, the Boden memecoin saw a 25% increase in its price. After peaking at $0.43, the price quickly fell to $0.366. The token is still up 15% and trading at the same price at the time of writing.
As the name suggests, memecoins are cryptographic tokens inspired by internet memes and jokes, along with public figures. These tokens gain value primarily from connecting with popular people’s events. These coins are also highly volatile and tend to lose value quickly after launch.
Recently, a pseudonymous trader of Crypto Dog predicted that the Jeo Boden memecoin is on the verge of exploding after a period of consolidation. The memecoin has seen a remarkable twenty-fold increase since the beginning of March.