Using a misspelling of U.S. President Joe Biden's name, meme coin Jeo Boden BODEN/USD is trading 48% higher in the past 24 hours with a 65% surge in trading volumes.
What Happened: Based on DEXScreener data, the Jeo Boden meme coin boasts of $1.9 million in liquidity and a market capitalization of $160 million. In the past 24 hours, the token has witnessed a 48% rally, with trading volume up 66%, indicating high trader interest. This takes the token prices to their all-time high prices.
The official X page of Jeo Boden announced that it is time to launch the meme coin's second token on Solana.
Also Read: Trump’s Softening Bitcoin Stance Propels 14% MAGA Meme Coin Surge
In the past month, the Jeo Boden meme coin witnessed a 560% surge, while Dogecoin DOGE/USD and Shiba Inu SHIB/USD saw an 85% and 120% surge, respectively.
Why It Matters: This surge comes amid Joe Biden winning the Ohio Democratic primary and is expected to do the same in all those states except Florida, where the Democrats canceled its primary and opted to award all 224 of their delegates to Biden.
Biden has also been making the news for the past two days as his administration announced, "forgiving student debt.”
Also, with the election narrative witnessing significant developments each day, meme coins connected to politics are likely to experience movements. For example, MAGA TRUMP/USD was trading 16% higher in the past 24 hours.
The Wolf Of Crypto Streets is optimistic on Jeo Boden in the latest tweet:
While the meme coin market witnessed an overturn in performance today after a week of declines, the Jeo Boden meme coin is also rallying higher. What holds in store for the meme coin as the November election comes nearer will be interesting to watch.
Photo: Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
