Boden Memecoin Crashes After US President Biden’s Poor Debate Performance
A joke cryptocurrency token based on Joe Biden plummeted on Friday after the incumbent president debated Donald Trump in their first presidential debate of the election cycle on Thursday.
Following the debate, the Jeo Boden (BODEN) coin plunged over 32% to trade around $0.08, CoinGecko data showed.
Biden’s performance at the debate can be described as substandard, at best. He seemed winded, rushing through facts with jumbled speech and missed words. He even spoke incoherently at times.
Apparently battling a cold, he fumbled otherwise strong points.
This was the kill shot pic.twitter.com/kEYrVCTHNu
— Auron MacIntyre (@AuronMacintyre) June 28, 2024
Biden’s Debate Challenge Backfires, Boden and TREMP Tokens See Decline
His subdued performance fell short of expectations. It’s worth noting that Biden was the one who challenged former president Trump to the debate. In hindsight, this appears to have been a strategic mistake.
One X user commented on Boden’s price drop, finding it amusing that people are reacting to Biden’s performance by selling the coin, as if it were pro-Biden. In reality, the token is community-driven, mocking Biden and his meme-worthy actions, especially focused on the 2024 presidential election.
Trump has previously ridiculed the Boden token upon learning that its market cap had reached $240m.
“That’s a lot of money for a coin, I don’t like that investment,” he said.
Meanwhile, a Donald Trump-inspired meme coin (TREMP) also dropped by 13.7% on Friday, trading at about $0.60.
Voter Concerns Persist as Biden Stumbles in Debate on Key Issues
Voters often express concerns about Biden’s age and capability for office. Reports suggest this debate is unlikely to alleviate their worries.
When asked about the war in Gaza, Biden stumbled, saying, “We are the biggest producer of support for Israel of anyone in the world.”
During another question about the national debt, Biden inexplicably concluded by saying “We finally beat Medicare.”
Trump Leverages Biden’s Weak Performance
Meanwhile, Trump seized the opportunity that Biden’s weak showing presented. He remained composed and focused, while subtly criticizing the president. Even so, he appeared to avoid tough questions.
While both individuals are considered the frontrunners for their parties’ nominations, they haven’t been officially chosen yet.
Biden eventually picked up the pace as the evening progressed, but it may not be enough to overcome the initial negative perception of his performance. This will likely lead to internal debates within the Democrats regarding his position as the nominee.
