A meme coin inspired by U.S. President Joe Biden has surged over 70% today, reaching a market cap 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 showing crude parodies of the U.S. president and heavily utilizes the Comic Sans font in its presentation, incorporating various memes. It also has a Trump-inspired counterpart called Doland Tremp (TREMP).
Launched nearly a month ago, BODEN has surged almost 2,000% since its launch, mainly driven by the buzz around the upcoming U.S. Presidential election and the ongoing meme coin craze on social media.
Like its counterpart TREMP, BODEN seems to rally every time there are any major developments in the U.S. election. Today’s surge is largely attributed to the news of Donald Trump leading Joe Biden in six states, as shown by the latest polls. Biden previously won a majority of the swing states in 2020.
Following this report, the TREMP meme coin also gained over 23% today. The market trends indicate that meme coin enthusiasts will likely continue to bet on these ‘knockoff’ tokens until the U.S. election in November.
With this rally, BODEN is the largest gainer in the meme coin market token, as other leading tokens continue to see liquidation.