Benzinga - Countless new meme coins have hit the scene in 2024. These tokens have provided a unique avenue for investing in some of the riskiest assets available. Though there was a meme coin wave in the previous bull market, largely powered by SHIB and DOGE, meme coin mania to this degree has not been seen before.
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With the meme coin hype reaching astronomical levels and the presidential campaign heating up, it was almost inevitable that the two would collide. A recent project on the Solana chain has done just this, making a token called "Jeo Boden" (BODEN). The token is poking fun at the president and hopes to use it to generate attention and investors.
The project's website features crudely drawn images of the president and purposely misspelled words, all written in Comic Sans. The project's tagline is "own onli boden and be happy." It is also littered with memes and has no plans for the future of the project. The only useful information on the entire site is a short guide on how to purchase the token.
However, despite the lack of effort that went into making the project, investors have flocked to the token. It began trading for less than $0.0003 in early March. Within a month, the token went as high as $0.42.
This price increase created gains of over 160,000%. To put this in perspective, an initial investment of $250 when the token launched would have been worth around $420,000 at all-time highs (ATHs) of over $0.41.
For a project with no future plans, a lack of value creation and an image designed to look like it was drawn by a third grader, these gains are almost unbelievable and serve as a testament to the unserious nature of meme coins.
Its creators also made a Donald Trump meme coin, which is called Doland Tremp (TREMP). The token has also attracted interest but not to the extremes of BODEN.
Solana has seen a return to popularity in 2024, largely driven by meme coins. Some of the largest projects, such as Bonk (BONK) and dogwifhat (WIF), have brought huge amounts of attention to Solana, which is performing well in 2024. BODEN and TREMP are just two of the vast number of meme coins available on Solana.
With the presidential election on the horizon and meme coins continuing to rise in popularity, it will be interesting to see how TREMP and BODEN fare in the coming months. Will the tokens continue to gain steam as the candidates hit the campaign trail or will the novelty of the projects wear off? Only time will tell.
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