Degens who caught the newest meme coin sensation—called “Jeo Boden”—early Tuesday are currently sitting on well over 100x returns. And now there’s a slew of copycat coins based on other politicians and public figures.
Solana has been the go-to destination for degens looking to gamble on meme coins this cycle, and that doesn’t appear to be slowing down. The newest meme coin meta to hit the chain on Solana has coins named after misspelled politicians’ names—like BODEN, TREMP, and DANOLD—skyrocketing. BODEN appears to have kicked off the trend, and while TREMP was created before it, BODEN has led the pack in terms of market cap.
BODEN, the ticker for a coin called “Jeo Boden”, is currently up 1,133% on the day with a market cap above $40 million. It has inspired a wide range of derivative projects that are currently dominating the meme coin market.
This wave, called “Spoderman Politicians,” was originally inspired by the Spoderman meme—a character drawn in Microsoft Paint that routinely appeared in a series of online comics.
Is “Jeo Boden” getting increased attention because the U.S. elections are coming up? It could be, although it’s probably more so just because it’s really goofy and funny. Besides, meme coins have been on fire over the last week amid Bitcoin’s rise to a new all-time high price.
The Jeo Boden website is minimalistic, decorated with a banner that states “own onli boden nd be happy”.
Some Twitter (aka X) users believe that coins like BODEN and TREMP will become methods to bet on who will win the U.S. Presidential Election as it draws closer.
$maga and $boden r nothing more than meme coins today
but as we approach the election both will become actual prediction markets, ie, if trump loses maga dumps, and vice versa
most entertaining outcome is most likely
— qw (@QwQiao) March 6, 2024
Boden began capturing the attention of Crypto Twitter on Tuesday. Today, the meta has extended beyond just politicians and now includes coins like “Wutalik Butterin” (inspired by Ethereum creator Vitalik Buterin) and “Wandrew Tate” (based on the ex-pro kickboxer and controversial social media personality).
you could have secured generational wealth for your children’s children, but instead you thought androo tete was funnier than jeo boden so now your family will starve
— blockgraze (@blockgraze) March 6, 2024
Meme coins are famously volatile and often are “rug-pulled” as the creators withdraw liquidity and cash in, leaving later buyers with a worthless coin. As always, this is not financial advice—though it is pretty funny.
Edited by Andrew Hayward
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Source: https://decrypt.co/220498/goofy-biden-trump-meme-coins-skyrocketing-solana
