Joe Biden and Donald Trump Both Have Their Own Memecoins, and They’re up 100,000%+ This Week
As the presidential race is heating up and crypto continues its bull run, it only makes sense to see the two combine. There have been a variety of crypto projects over the past several months that are combining memecoins, crypto, politics, and an overall sense of eccentricity. These projects are paving a new asset class that some are calling “PoliFi”.
While there have been some popular crypto-political projects in the past, such as Trump Digital Trading Cards, the newest fad has been to create memecoins revolving around presidential candidates. 2 of the most recent tokens that were created are doland tremp (tremp) and jeo boden (boden). And yes, that is how the tokens are spelled.
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The tokens, created on the Solana chain, have seen huge price increases over the past week. Since tremp’s launch on February 27, the token has gone from $0.0001 to a high of $0.1393 on March 7, marking an insane increase of 139,200%. boden was launched on March 3rd and has seen a similar price increase. It began trading for $0.00004, but reached a high of $0.076 on March 7. This means that boden appreciated more than 189,900% in just 3 days.
The political memecoins seem to be a way for investors to place wagers on elections. Steven Steele is the marketing director of MAGA Coin (TRUMP), and he said that PoliFi has “evolved to become this kind of de facto betting market on the election for many investors”. TRUMP in particular saw its price appreciate when Trump performed well in primary elections.
tremp and boden are only 2 of the many memecoins that have popped up on the Solana chain in the past months. Popular tokens Bonk (BONK) and dogwifhat (WIF) have been hits in the crypto community, garnering huge amounts of attention and investment.
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The tokens do not even try to be serious. The websites for both boden and tremp are fraught with memes, intentionally misspelled words, and crudely drawn pictures of the candidates. However, this may actually be more of an attractor to the tokens that you may think. While some may view the tokens as a way to wager on the outcome of the election, others simply view it as a fun game to throw a few extra dollars into.
In fact, a $10 investment into boden when the project first started would be worth $19,000 now. Not too bad for those who were able to get in early.
So, with tons of stories coming out of both crypto and politics, perhaps none are as off-center as the recent PoliFi memecoins of tremp and boden.
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