A meme coin inspired by US President Joe Biden surged more than 70% today, reaching a market capitalization of $324 million.
Jeo Boden (BODEN) is a satirical Solana meme coin that mocks Biden’s public persona and policy views. It features a website that displays crude parodies of American presidents and incorporates various memes, making heavy use of Comic Sans font in its presentation. It also has a Trump-inspired counterpart called Doland Tremp (TREMP).
Launched almost a month ago, BODEN has soared nearly 2,000% since launch, largely fueled by rumors of the upcoming US presidential election and the ongoing meme coin craze on social media.
Like TREMP, BODEN seems to rally whenever there is a significant development in the US elections. Today’s surge is largely due to the news that Donald Trump is ahead of Joe Biden in six states, as recent polls show. Biden previously won most of the swing states in 2020.
Following this report, the TREMP meme coin also rose more than 23% today. Market trends suggest that meme coin enthusiasts will likely continue betting on these ‘counterfeit’ tokens until the US elections in November.
Through this rally, BODEN was the biggest gainer among meme coin market tokens, while other major tokens continued to liquidate.