- The Super Tuesday primaries just concluded, which sets the stage for a rematch between former President Donald Trump and incumbent President Joe Biden.
- Meme coins based on the presidential rivals just sprouted on the Solana blockchain to capitalize on the election hype.
The Joe Biden Vs Donald Trump Rematch
It’s going to be a rematch between the 45th and 46th presidents of the US in this November election. Despite his legal setbacks, Trump solidified his hold on the Grand Old Party (GOP) to get another shot at the White House. However, the Republican bloc’s Nikki Haley managed to get the favor of Vermont and Washington DC to prevent a clean sweep from her party rival.
On the other hand, Biden got the nomination on the Democrats’ side, except the American Samoa. The sitting president surprisingly lost to an unpopular candidate named Jason Palmer by 11 votes in the small US territory in the South Pacific Ocean.
Things are definitely going to be interesting from here.
Meme Coin Mania in Solana
The big Tuesday news also coincided with major market and social media happenings like Meta’s server crash. The largest cryptocurrency by market cap, Bitcoin (BTC), finally surpassed its November 2021 all-time high as it topped $69,170. Along with the ride were the mainstream altcoins, including meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB).
However, an ensuing massive profit-taking halted the momentum of the crypto market and it didn’t take long for it to wipe out a significant amount of gains made over the week. BTC slumped to $65K in the one-hour aftermath of the affair and all the way to $61,000 before finding new support at $65,000 by the next day.
Amid the frenzy were some meme coins based on Trump and Biden. The one making the most noise on social media circles in the past couple of hours though is Jeo Boden (BODEN), which is an obvious play on the current president’s name.
This coin on the Solana chain is relatively new, and not much detail is available about it as of now. Based on CoinMarketCap data, it has a self-reported supply of 690.33 million BODEN.
Surprisingly, BODEN peaked at $0.05302 per coin today before settling at $0.48 as of this writing at 9:00 AM UTC. The digital asset’s market cap is now set at over $35.91 million while displaying a $62.96 million trading volume over the 24-hour frame.
Be reminded though that new meme coins are normally prone to rug pulls, exit scams, honeypots, and all sorts of fraudulent activities. So, while the prospect of meme coins like BODEN is somewhat alluring as the 2024 US Presidential Election nears, it always pays well to exercise due diligence before investing your hard-earned money into such a high-risk assets.