Coin Edition -
- The Donald Trump-inspired TRUMP token has surged by over 242.9% in a month and 17.9% in a week.
- The Joe Biden-inspired BODEN has set a daily high of 289.38% ahead of the US Presidential Election.
- TRUMP and BODEN are considered the prediction markets that will be impacted by the election results.
Amid anticipation of the 2024 US presidential election in which Donald Trump and Joe Biden are key rivals, memecoins representing them are making waves in the crypto market. Over the past month, Donald Trump’s TRUMP token has achieved substantial gains despite a recent downturn. Currently trading at $7.59, the memecoin has marked a monthly increase of 242.9% and a weekly surge of 17.9%. Though TRUMP has marked a 24-hour decline of 21.4%, in the last 1 hour, the token has seen a modest hike of 3%.
TRUMP’s rise has led the way to newer memecoins like Joe Boden (BODEN). Solana-based BODEN is currently leading the pack, sitting at $0.05671 after an astounding 24-hour increase of 289.38%.
In a recent post, an individual known on X as “qw” commented on these memecoins’ role as “prediction markets.” He asserted that if Trump wins, TRUMP will skyrocket, causing BODEN to dip. Similarly, if Biden wins, TRUMP will decline, and BODEN will pump.
$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 versamost entertaining outcome is most likely— qw (@QwQiao) March 6, 2024
TRUMP and BODEN’s rallies follow the resurgence of memecoins like PEPE and SHIB. While SHIB exhibited a growth of more than 100% in the last week, PEPE increased by over 400%.
The post Will TRUMP and BODEN Upticks Impact the US Presidential Election? appeared first on Coin Edition.