Jeo Boden

Jupiter

Millions

Coin

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 <li style="font-weight: 400">A trader recently faced a substantial loss after investing in the Joe Biden-themed meme coin, Jeo Boden (BODEN) token, a situation unfolding amid rising expectations for a potential meme coin season.</li>
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The anonymous trader <a href="https://x.com/clippedtoby/status/1815090179666788481" rel="noopener noreferrer nofollow">saw</a> nearly $8 million evaporate after swapping Jupiter (JUP) tokens for BODEN at its peak.&nbsp;
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Reminder: Rich people can also be incredibly stupid.
 This trader TWAP'd out of $8m worth of <a href="https://twitter.com/search?q=%24JUP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$JUP</a> for <a href="https://twitter.com/search?q=%24BODEN&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BODEN</a> at the pico top of Boden.
 He then sold $12.5k worth (0.5% of total) but bagheld the rest to now, where he is down near to 98%. His $8m is now worth about $85k at… <a href="https://t.co/w4jAvInuBB" rel="noopener noreferrer nofollow">pic.twitter.com/w4jAvInuBB</a>
 — toby (@clippedtoby) <a href="https://twitter.com/clippedtoby/status/1815090179666788481?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 21, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
According to crypto trader Toby, the investor’s BODEN holding has now plummeted by about 99%. Initially, the trader managed to sell only $12.5k worth of BODEN before the value dropped drastically.
Currently, the trader’s BODEN investment stands at roughly $85,000, with the wallet primarily holding BODEN (81%), USD Coin (14%), and Solana (3.7%). The wallet’s peak valuation of over $10.8 million in April has now decreased to around $219,000, according to <a href="https://coinstats.app/address/D4PDeD5jm6mL3TWkBgB6vL9mXqgPN35y7TuDQ7ugX71m/" rel="noopener noreferrer nofollow">CoinStats</a>.
Biden-linked meme coins have seen a steep decline, falling over 60% since Biden withdrew from the 2024 presidential race.
In contrast, other meme coins are experiencing a surge. For example, Mogcoin (MOG), based on Ethereum, hit an all-time high on July 22, reaching a market cap of over $820 million.
This surge has fueled speculation among traders about an impending altcoin season, with many predicting new all-time highs for various cryptocurrencies.&nbsp;
Meme coin trader Zack Ventura suggested that the market could be gearing up for the next phase of the bull cycle, indicating a potential meme coin season ahead.

A Trader Lost Millions In Jeo Boden (BODEN) Meme Coin Gamble

ItsBitcoinWorld

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