Memecoins
Joe Biden-Inspired Crypto Token Rises After Donald Trump Mocks It
The old adage “any publicity is good publicity” seems to apply to memecoins. Even the flimsiest advertising.
Jeo Boden (BODEN), a crypto token referencing a misspelling of US President Joe Biden’s name, jumped 25% on Wednesday after his Republican challenger, former President Donald Trump, responded to a fan’s question to this subject.
The real estate mogul, reality TV star and populist brandon hosted the NFT Gala of Trump Cards for holders of digital collectibles that bear his name and likeness. A few hundred people were in attendance at his Mar-a-Lago resort in Palm Beach, Florida.
“I don’t like that investment,” Trump said during an impromptu question-and-answer session after an attendee described BODEN to him and said its market cap was $240 million.
After peaking at $0.42, BODEN fluctuated and, at press time, was trading at $0.40, still up about 15% from when Trump made his comment (such that he was).
Trump’s presidential campaign is not currently accepting cryptocurrency donations, but he said at the impromptu rally that he intends to do so.
To the question: “Can we donate using crypto?” » the almost certain GOP candidate replied: “If you can’t, I’ll make sure you can.”
The contract defines a “mention” as “a verbal use of the word ‘boden’ specifically in reference to cryptocurrency” or “any written use of the word ‘boden’ posted via Trump’s social media or other communication channels officials.
His joke didn’t fit, and the “yes” shares in the contract, which will pay $1 if he says the word “Boden” by July 1, were little changed at $0.05 – meaning the traders give a 5% chance that he will do so. will say the word.
CORRECTION (May 9, 2024, 02:38 UTC): Corrects fourth paragraph to say Trump was having a question-and-answer session with the audience, not a press conference.