The crypto community witnessed the meteoric rise of “Jeo Boden,” a meme coin, which delivered an unparalleled 1000x return to its early investors. The price action happened within one week of the token’s launch.

This crypto, drawing its name from a humorous misinterpretation of US President Joe Biden, has set the stage for a new trend within the crypto sphere.

BODEN Token Surged 1000x

“Jeo Boden” skyrocketed with impressive gains within a week, pushing its market cap above the $26 million mark. Consequently, this success story has sparked the creation of various derivative projects on the Solana blockchain. These newcomers are keen to replicate “Boden’s” triumph, leveraging the combined power of humor and speculation that defines the meme coin sector.

“If Jeo Boden keeps this up, I am voting for the actual Biden in November,” Venture Capitalist Nic Carter remarked

Interestingly, the surge in meme coin popularity emphasizes the significant role of the “attention economy.” Andrew Kang, co-founder of Mechanism Capital, highlighted this by highlighting their strategic investment in Donald Trump-themed meme coins. Kang pointed out that Trump’s constant media visibility enhances the value of related meme coins, illustrating how public attention can drive cryptocurrency value.

Read more: 7 Hot Meme Coins and Altcoins that are Trending in 2024

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Author: Harsh Notariya

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