The memecoin frenzy has struck once more, and this time it’s centered across the likeness of US President Joe Biden. BODEN, a token named after the president, has skilled – at one level – a mind-boggling surge in worth, skyrocketing by a jaw-dropping 5,000%, in response to CoinMarketCap.

BODEN’s meteoric rise is only one instance of the broader pattern of meme cash in search of to capitalize on the recognition of distinguished figures, be they politicians or celebrities. These tokens intention to draw buyers in search of fast income by leveraging the celebrity of their namesakes.

Memecoin Fever: BODEN Makes Huge Noise

Buying and selling information from CoinMarketCap reveals that BODEN, a Solana-based meme coin, has seen an astronomical rise of over 2,400% inside the final 24 hours, marking a milestone within the crypto world. With a buying and selling value of roughly $0.018, this quirky digital asset has amassed a staggering market quantity of $24 million in a mere day.

The surge in BODEN’s worth has ushered in a brand new wave of meme cash, as builders seize the chance to capitalize on the hype and attract buyers in search of swift good points.

Trump Memecoin Additionally In The Highlight

In the meantime, the cryptocurrency TRUMP, related to Donald Trump, just lately dropped to $8.08, though it nonetheless maintains a significantly increased worth in comparison with its year-end value. Regardless of not being immediately linked to politicians, Trump had beforehand acquired over 579,000 TRUMP tokens from the mission workforce.

Whole crypto market cap at $2.44 trillion on the day by day chart: TradingView.com

The asset skilled a big surge in January 2024, reaching a price of $four million in Trump’s pockets, in comparison with buying and selling between $0.01 and $0.08 in November 2023. The worth enhance is attributed to political victories by each Biden and Trump through the Tremendous Tuesday contests, with Trump profitable in 14 out of 15 states because the Republican candidate.

BODEN Flexes Muscle groups

Nevertheless, BODEN has taken heart stage this week, surpassing even the beloved Dogecoin (DOGE), the pioneer meme coin on Solana. BODEN’s efficiency has even outshined dogwifhat (WIF) and Bonk’s BONK, solidifying its dominance within the meme coin realm.

Amidst the meme coin frenzy, let’s not overlook the reigning king of the crypto world—Bitcoin (BTC). The main digital foreign money skilled a fleeting second of glory because it soared to a brand new all-time excessive of $69,300, a report not seen since 2021. Nevertheless, the joy was short-lived as BTC shortly retracted to as little as $60,000, inflicting a billion-dollar wipeout available in the market.

Featured picture from AFP; Getty Pictures, chart from TradingView