Trump Mocks ‘Boden’ Memecoin’s $240M Market Cap, BODEN Token Surges 25%

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Sujha Sundararajan

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Sujha Sundararajan

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Sujha has been recognised as 🟣 Women In Crypto 2024 🟣 by BeInCrypto for her leadership in crypto journalism.

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May 9, 2024 02:04 EDT

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2024 US Presidential hopeful Donald Trump isn’t much interested in “Jeo Boden (BODEN)” memecoin, a joke crypto token mimicking the current President Joe Biden.

Former President Trump, answering to his fan questions, mocked the memecoin after hearing that the token reached $240 million market-cap.

“That’s a lot of money for a coin, I don’t like that investment,” he noted.

Trump Speaks on $BODEN at NFT Event

"That's a Lotta Money for a Coin, I Don't Like That Investment"

Audio Source: @realDannyNelson pic.twitter.com/8NcpuCc6ZI

— db (@tier10k) May 9, 2024

His remarks came during a special Trump NFT event for holders held at his Mar-a-Lago resort in Florida on Wednesday.

Last month, Solana-based memecoins representing caricatures of Biden and Trump, posted massive gains, according to blockchain data from DexScreener.

Crypto tokens referring to a misspelling of both the candidates – “Jeo Boden” and “Doland Tremp” – went head-to-head with trading. At a point, “Jeo Boden” and “Doland Tremp” saw market capitalization of $473 million and $83 million, respectively.

Memecoins have received 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 at press time, per CoinGecko data.

The embattled former leader is also open to crypto donations for campaign. When asked by the mob, “Can we donate using crypto?” Trump noted, “If you can’t, I’ll make sure you can.”

BREAKING: DONALD TRUMP ASKED “CAN WE DONATE USING CRYPTO?”

“IF YOU CANT, I’LL MAKE SURE YOU CAN” pic.twitter.com/Nm2YjqxwSI

— Frank (@frankdegods) May 9, 2024

Boden memecoin Jumps 25%

Following Trump’s remarks, Boden memecoin saw a 25% raise in its price on Wednesday. After peaking $0.43, the price quickly fell to $0.366. The token is still up 15% and is trading at the same price at the time of writing.

As their names suggests, memecoins are crypto tokens inspired by internet memes and jokes, along with public figures. These tokens mainly get value from linking with events of popular people. These coins are also highly volatile and tend to rapidly lose value after its launch.

Recently, a trader pseudonymous to Crypto Dog predicted that the memecoin Jeo Boden is on the cusp of breaking out after a period of consolidation. The memecoin has witnessed a remarkable twenty-fold surge since the beginning of March.