- $BODEN, inspired by Biden, surges post-Trump’s lukewarm comment, hinting at cryptosphere’s sensitivity.
- $TREMP’s meteoric rise follows Trump’s open support, underlining influencers’ sway in crypto markets.
- Publicity power: Trump’s remarks trigger spikes in $TREMP and $BODEN, showcasing crypto investor sentiment.
Last March, two new memecoins launched on the Solana blockchain, attracting attention in a unique way by poking fun at presidential candidates in the upcoming United States election. This memecoin, featuring caricature images of candidates, has surged in popularity since its launch. The Joe Biden themed coin is called Jeo Boden ($BODEN), while the Donald Trump themed coin is called Doland Tremp ($TREMP).
Recently, the Jeo Boden (BODEN) meme coin saw a significant spike in value after former US President, Donald Trump made comments about the coin at the Trump Cards NFT Gala. Jeo Boden (BODEN), a cryptocurrency spawned from a playful take on the name of US President Joe Biden, experienced a notable surge in its valuation following a lukewarm reaction from former President Donald Trump regarding the digital asset.
The incident unfolded at the Trump Cards NFT Gala held at the Mar-a-Lago resort in Palm Beach, Florida, where Trump was entertaining holders of his digital collectibles. When queried about BODEN, rumored to possess a market capitalization of $240 million, Trump expressed his disinterest in the investment with a straightforward comment.
Despite less convincing support, BODEN’s value skyrocketed by 25% after Trump’s comments. This incident illustrates the immense influence of publicity, even when it portrays meme coins and other speculative investments in a negative light, within the cryptocurrency market. Nonetheless, as of the latest update, BODEN has retreated to $0.3082 with a market cap of $212 million.
On the other hand, the value of the $TREMP token soared fantastically by hundreds of thousands of percent, from an initial price of just a fraction of a cent to almost $1. This increase accelerated after former president Donald Trump openly supported the memecoin. The $TREMP token price experienced an explosive rise. TREMP was trading at a price below $0.30.
However, within an hour, TREMP price surged by more than 100%, reaching a high of $0.66. The price increase continued overnight, with TREMP peaking at $0.91. In a span of merely seven hours, this represents a staggering growth of over 200%.
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Many investors likely seized the opportunity to cash in on the substantial increase in $TREMP’s price, leading to a retreat to around $0.75. Nevertheless, it’s important to acknowledge that $TREMP still saw a remarkable surge of over 170% within the last 24 hours. In market capitalization, $TREMP still lags behind BODEN. Currently, TREMP’s market value is around $70 million, while BODEN’s is still much higher at $240 million.
The effect of publicity appears to apply to meme coins. Although Trump did not explicitly endorse BODEN, his comments about the coin were enough to trigger a price spike. This shows that cryptocurrency investors pay close attention to what public figures say about digital assets.
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