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The Rise of Meme Coin Sensation “Jeo Boden” Sparks Copycat Coins
Degens who were quick to catch on to the latest meme coin craze, known as “Jeo Boden,” on Tuesday are now enjoying returns of over 100 times their initial investment. This surge has also given rise to a multitude of copycat coins based on various politicians and public figures.
Solana has emerged as the preferred platform for degens seeking to indulge in meme coin speculation during this cycle, and the trend shows no signs of slowing down. The most recent addition to the meme coin ecosystem on Solana involves tokens named after misspelled versions of politicians’ names, such as BODEN, TREMP, and DANOLD, all of which have experienced meteoric rises in value. BODEN seems to have initiated this trend, and despite TREMP being created earlier, BODEN has taken the lead in terms of market capitalization.
BODEN, the coin linked to “Jeo Boden,” has surged by a remarkable 1,133% in a single day, with a market capitalization exceeding $40 million. Its success has spawned a range of derivative projects that currently dominate the meme coin market.
The Origin of the “Spoderman Politicians” Wave
This wave of meme coins, dubbed “Spoderman Politicians,” drew inspiration from the Spoderman meme, featuring a character sketched in Microsoft Paint that frequently appeared in online comics.
One may wonder if the increased attention on “Jeo Boden” is linked to the upcoming U.S. elections. While this may play a role, the coin’s popularity likely stems from its comedic and quirky nature. Furthermore, meme coins have been thriving lately amidst Bitcoin’s climb to new all-time price highs.
The sleek website for Jeo Boden is adorned with a banner proclaiming “own onli boden nd be happy.” Some Twitter users speculate that coins like BODEN and TREMP could evolve into prediction markets for the U.S. Presidential Election as the event draws nearer.
$maga and $boden r nothing more than meme coins today but as we approach the election both will become actual prediction markets, ie, if trump loses maga dumps, and vice versa most entertaining outcome is most likely — qw (@QwQiao) March 6, 2024
Expansion of the Meme Coin Trend
Following its initial buzz on Crypto Twitter, Boden has paved the way for an expansion of the trend beyond politicians. New coins like “Wutalik Butterin” (inspired by Ethereum creator Vitalik Buterin) and “Wandrew Tate” (based on the ex-professional kickboxer and controversial social media personality) have entered the fray.
you could have secured generational wealth for your children’s children, but instead you thought androo tete was funnier than jeo boden so now your family will starve — blockgraze (@blockgraze) March 6, 2024
Meme coins are renowned for their volatility and the risk of being “rug-pulled,” where creators withdraw liquidity, leaving latecomers with worthless tokens. While intriguing, it is essential to remember that this content is not financial advice, albeit amusing.
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