Solana memecoin craze continues with Biden parody token reaching $250M market cap
The price of the Boden token went on a wild run shortly after its launch on March 9.
'Jeo Boden,' a Solana memecoin parody of U.S. President Joe Biden, has surpassed $250 million in market cap with a gain of 54% within the past 24 hours as of March 25.
The memecoin is only available on the Solana decentralized exchange Raydium and is not yet listed on any centralized platforms. "Boden the 46th pres of soluna. his jeb is te mäk three hundred trillion million billion dollars," developers wrote on its official website after the token's March 9 launch. "This wallet belongs to the Jeo Boden treasury and community alike. Any funds donated will be put towards marketing, listings, giveaways, etc," they further stated:
Despite developer warnings, Solana memecoins have been on a wild run, with over $122.5 million raised from 27 presales this year alone. "MEME tokens have a knack for capturing attention rapidly through their widespread viral sharing on social media platforms," commented Singaporean crypto education firm Gryphsis Academy. "An engaging tweet or a captivating Reddit post about a MEME token can spread like wildfire, reaching vast audiences in no time."
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