The meme coin market reacted with progress after Tremendous Tuesday in the USA, which noticed Joe Biden and Donald Trump named presidential candidates.
Meme cash based mostly on the Solana blockchain lead the market amid the general rise. Based mostly on Biden’s title, the jeo boden (BODEN) token is up greater than 4,700%, in response to CoinMarketCap. On the time of writing, the asset is buying and selling at $0.04. At launch, the token worth fluctuated round $0.002.
In opposition to rising asset costs, the Donald Trump-related cryptocurrency TRUMP fell to $8.08. Nevertheless, the price of the token remains to be considerably increased than its worth on the finish of final yr.
Each BODEN and TRUMP aren’t instantly related to politicians. Nevertheless, Trump beforehand acquired 579,281 TRUMP from the venture group. In January 2024, the asset went up sharply. Compared, in November 2023, it traded between $0.01 and $0.08. On the finish of February, the worth of the TRUMP meme coin portfolio in Trump’s pockets elevated to $4.05 million.
The value soar is probably going attributable to Biden and Trump’s political victories within the Tremendous Tuesday contests. Trump received the election because the Republican candidate in 14 out of 15 states, whereas Biden solely misplaced the first in American Samoa.