Benzinga - Cryptocurrency enthusiasts who invested early in a new meme coin named after a humorous misspelling of U.S. President Joe Biden’s name – “Jeo Boden” – saw substantial gains this Wednesday, with returns surpassing 100 times their initial investment.
What Happened: This has sparked a wave of similar meme tokens named after various political and public figures with intentional misspellings.
Meanwhile, Dogecoin (CRYPTO: DOGE), and Shiba Inu (CRYPTO: SHIB) were down 4%-6% in the last 24 hours.
Solana (CRYPTO: SOL), the blockchain platform, has become a popular choice for those willing to take their chances on meme coin offerings. The latest trend features coins with tickers like BODEN, TREMP, and DANOLD, all experiencing a significant surge in value.
The “Jeo Boden” coin, abbreviated BODEN, has seen a 1,133% increase in its price within a single day, achieving a market cap exceeding $40 million. It has set off a chain of other related projects now leading the meme coin market.
See More: Dogecoin HODLERs Are Beating Shiba Inu With 57% Landing In Profits, IntoTheBlock Data Reveals
Why It Matters: The timing of “Jeo Boden’s” popularity might coincide with the upcoming U.S. elections, but it seems that its appeal lies in its comedic nature. This interest comes at a time when meme coins have been increasingly popular, especially with Bitcoin reaching new high prices.
An online post dated March 6 details a crypto investor known as “Barkery” who claims to have transformed $260 into $42,000 in merely two days. They did this by purchasing 11.73 million tokens of “Jeo Boden” (BODEN).
many were telling me to sell 1000x agoyou do not have the stones to run up half a million in 3 days
study conviction
study retardio pic.twitter.com/ida2apBagD
— barkery