In a world where politics and technology increasingly intersect, the advent of new political-themed meme coins was just a question of time. PolitiFi assets have gained popularity among the crypto community due to their entertaining nature and references to relevant events. Some experts even believe meme coins that are exploiting political themes have the potential to outpace the growth of famous meme projects like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE).
Today, we’ll closely review two election meme tokens — Jeo Boden (BODEN) and MAGA (TRUMP).
Comparison of BODEN and TRUMP
Here is a comparative table of these two meme tokens as of this writing:
Now let’s discuss these projects in more detail.
What is Jeo Boden (BODEN)?
Jeo Boden (BODEN) is a meme token created to capture the essence of meme culture surrounding the current U.S. President Joe Biden. The meme coin was launched on March 3, 2024. The project team, like most meme tokens, remains anonymous.
It was later listed on centralized exchanges such as LBank and CoinEx, increasing its liquidity and popularity among users. Shortly after, BODEN's value surged by 830% in just 6 hours of trading, catching the attention of investors and crypto enthusiasts.
BODEN's price rose further after former U.S. President Donald Trump commented on the token at the Trump Cards NFT Gala. Responding to a question about BODEN, Trump expressed his disinterest in investing, after which the token's price jumped by 20%.
How BODEN Works
The token operates on the Solana blockchain, known for its high transaction speed and low fees. As a meme token, BODEN primarily serves as a digital asset managed by the community. Its value and popularity are driven by social media trends related to Joe Biden rather than intrinsic value, technological innovation, or practical use.
As of this writing, BODEN is priced around $0.019.
Source: CoinMarketCap
What is MAGA (TRUMP)?
TRUMP is a meme token created around the image and political campaigns of former U.S. President Donald Trump and his slogan "Make America Great Again". The token's value is tied to news, Trump's campaign activities, and other events in his personal life.
The token was launched in August 2023 by crypto enthusiasts Sean Fares and Steven Steele, the project's chief marketer. It was subsequently listed on exchanges like LBank, CoinEx, XT, and others. TRUMP quickly rose in price and gained popularity among Trump supporters and the crypto community, particularly after Trump publicly stated his support for cryptocurrencies.
How TRUMP Works
The meme token operates on the Ethereum blockchain using the ERC-20 standard for smart contracts. Later, it became available on Solana, BNB Smart Chain, and Base.
TRUMP stands out among other meme coins by implementing a charitable program, donating a portion of its profits to organizations like the National Support for Homeless Veterans and the Children's Defense Fund. As of this writing, 43.9 million TRUMP tokens are in circulation.
Source: CoinMarketCap
Impact of Recent Biden's Announcement
On July 21, 2024, current U.S. President Joe Biden announced he is withdrawing from the presidential race. He stated that he would address the nation with more details about his decision later this week.
Source: CoinGecko
Following this news, the prices of PoliFi tokens BODEN and TRUMP dropped significantly. According to CoinGecko, BODEN's price decreased by approximately 57% over the next 24 hours after announcement, while TRUMP's price fell by 7.3%. Notably, some Trump-related meme coins saw a rise in value. For instance, Super Trump (STRUMP) and Doland Tremp (TREMP) increased by about 25% and 2% respectively over the last day.
Conclusion
Jeo Boden and MAGA are prominent examples of meme coins that have gained popularity through references to well-known political figures. They illustrate how the entertaining aspect and social media can influence the value of crypto assets, even if they lack practical value or technological innovation.
If you want to learn more interesting facts about crypto then check out our blog! You might like our articles “What’s Next for the Crypto Industry?” and “The Rise of Cryptocurrencies in South America”.
