Jeo Boden

2024

Doland Tremp

TRUMP’S HAT

The 2024 United States Presidential election has ignited a surge of memecoins associated with candidates from both sides of the political spectrum.
Crypto enthusiasts have been quick to follow the memecoin race, which features notable figures such as current President Joe Biden, who recently dropped out of the race; current Vice President Kamala Harris, who is now campaigning for president in the Democratic Party; former President Donald Trump, who just accepted the nomination of the Republican Party; and even Trump’s well-known red “Make America Great Again” (MAGA) hat. 
Let’s take a look at some of the trending coins and how they’ve been faring in light of the latest election news.
<h2 id="runs-in-the-family">Runs in the family</h2>
Sitting President Biden has a whole host of memecoins not only related to him but<a href="https://cointelegraph.com/news/biden-memecoins-tank-as-joe-bidens-drops-out-presidential-race"> members of his family</a> as well.&nbsp;
On July 21, Biden’s announcement that he was <a href="https://cointelegraph.com/news/joe-biden-withdraws-united-states-presidential-race">stepping down as the Democratic Party nominee</a> and withdrawing from the 2024 election sent the memecoin ecosystem associated with his persona into a frenzy.
Reports reveal that the news <a href="https://cointelegraph.com/news/joe-biden-presidential-drop-out-wiped-67-million-crypto-long-positions">liquidated nearly $67 million</a> of leveraged long positions from the crypto market within half an hour of the announcement, along with a small dip in the price of Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>).
Additional reports revealed that Biden-related coins <a href="https://cointelegraph.com/news/biden-memecoins-tank-as-joe-bidens-drops-out-presidential-race">dropped at least 60%</a> in value in light of the news. 
The Biden-inspired memecoin Jeo Boden (BODEN) fell by 62% within the first two hours after the announcement of his stepping down. 
<blockquote class="twitter-tweet">
 <a href="https://t.co/KVNP8DIn4J">pic.twitter.com/KVNP8DIn4J</a>— rekt 熊 (@rekt_tekashi) <a href="https://twitter.com/rekt_tekashi/status/1815093529519014134?ref_src=twsrc%5Etfw">July 21, 2024</a>
</blockquote>
CoinMarketCap shows that Hunter Biden’s Laptop (LAPTOP) is down nearly 45% from the previous day, while the Jill Boden token (JILLBODEN) is <a href="https://coinmarketcap.com/dexscan/solana/7iVyhkXFtHrGX9rYP2qa7G2wjSVmyZyefLzz3HMuALAD/" target="_blank" rel="noopener nofollow">down</a> by 82.54%, at the time of writing.&nbsp; 
Related: <a href="https://cointelegraph.com/news/gary-gensler-resign-2025-biden-exit-white-house-10x-research">Gary Gensler will likely resign in 2025 after Biden exit — 10x Research</a>
<h2 data-ct-non-breakable="true" id="madam-vice-president">Madam Vice President</h2>
While Biden-related tokens have been tanking, those related to&nbsp;<a href="https://cointelegraph.com/news/what-we-know-about-kamala-harris-views-on-crypto">Vice President Harris</a>&nbsp;have seen the opposite reaction to the news.
The Kamala Horris (KAMA) token surged dramatically due to speculation that Harris might replace Biden as the new Democratic nominee.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-07/52374a1f-fe72-4a9a-91df-9b4816403ced.png" alt="Memecoin frenzy intensifies as US election nears" title="">
 <figcaption style="text-align: center;">
 Source: <a href="https://x.com/ParrotCapital/status/1815109035345215825" target="_blank" rel="noopener nofollow">Parrot Capital</a>
 </figcaption>
</figure>
At the time of writing KAMA is up 62% compared to the previous day prior to the news, <a href="https://dexscreener.com/solana/jc9hsjtyjltxqqryhzt642lbncfpbofzbabrhgwv4nr" target="_blank" rel="noopener nofollow">according</a> to DEXScreener.&nbsp;
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-07/a47161eb-eb3d-451d-8fd1-f48ce7b4cd47.jpeg" alt="Memecoin frenzy intensifies as US election nears" title="">
 <figcaption style="text-align: center;">
 Source:&nbsp;<a href="https://x.com/KamalaHarrisSOL/header_photo" target="_blank" rel="noopener nofollow">Kamala on Solana</a>
 </figcaption>
</figure>
While not contenders for the current election season, other Democratic personalities have their own <a href="https://x.com/KamalaHarrisSOL/status/1815227338092622238" target="_blank" rel="noopener nofollow">tokens</a>, including former President Barack Obama’s OBEMA, Michigan Governor&nbsp;Gretchen Whitmer’s&nbsp;GRETCH, and California Governor Gavin Newsom’s NOOSUM.
<h2 id="maga-tremp-trump">MAGA, TREMP, TRUMP</h2>
Of course, the political memecoin arena wouldn’t be complete without the slew of tokens related to Trump. MAGA (TRUMP) is <a href="https://cointelegraph.com/news/maga-memecoin-trump-pump-bitcoin-2024-conference">the leading Trump-themed memecoin</a> in terms of market capitalization.&nbsp;
TRUMP has been fluctuating in relation to many recent events, particularly massive gains <a href="https://cointelegraph.com/news/donald-trump-memecoin-price-soars-following-assassination-attempt">following the assassination attempt</a> on the former US president on July 13. Market speculators are anticipating movement tied to Trump’s appearance at the upcoming Bitcoin Conference in Nashville, Tennessee, on July 27. 
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-07/70337256-32f9-4815-97f7-4f2dc4788b45.png" alt="Memecoin frenzy intensifies as US election nears" title="">
 <figcaption style="text-align: center;">
 Source: <a href="https://x.com/dolandtremp_sol/status/1812255251002720357/photo/1" target="_blank" rel="noopener nofollow">Doland Tremp</a><a href="https://x.com/dolandtremp_sol" target="_blank" rel="noopener nofollow"></a>
 </figcaption>
</figure>
Another Trump-related token represents Trump’s MAGA hat, appropriately titled TRUMP’S HAT (MAGA). And similar to the BODEN token, there is also the Doland Tremp (TREMP) memecoin. 
Both tokens saw small price hikes after the announcement of Biden’s resignation from the race, according to <a href="https://coinmarketcap.com/currencies/trumps-hat/" target="_blank" rel="noopener nofollow">data</a> from CoinMarketCap. 
<blockquote class="twitter-tweet">
 BIDEN JUST DROPPED OUT OF ELECTIONS The <a href="https://twitter.com/hashtag/MAGA?src=hash&amp;ref_src=twsrc%5Etfw">#MAGA</a> movement is now stronger than ever! ❤️ Pack your bags frens! <a href="https://twitter.com/search?q=%24MAGA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MAGA</a> <a href="https://t.co/gNEMA1PoNJ">pic.twitter.com/gNEMA1PoNJ</a>— MAGA Crypto (@MagaHAT_ETH) <a href="https://twitter.com/MagaHAT_ETH/status/1815107536779190693?ref_src=twsrc%5Etfw">July 21, 2024</a>
</blockquote>
With Biden’s announcement shocking the market, <a href="https://cointelegraph.com/news/what-joe-biden-withdrawal-means-crypto-bull-run">analysts are now speculating</a>&nbsp;that his withdrawal could benefit the overall crypto market.&nbsp;
 Magazine: <a href="https://cointelegraph.com/magazine/crypto-sec-turbo-toad-phishing-attack-and-evolve-data-breach/">Crypto-Sec: Evolve Bank suffers data breach, Turbo Toad enthusiast loses $3.6K</a>

Memecoin frenzy intensifies as US election nears

Inhoudsopgave

Cointelegraph

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