Traders are now gambling on ‘poorly drawn’ celebrity memecoins
One memecoin investor says an initial investment of $260 ballooned into $423,000 in just three days by purchasing a token called Jeo Boden, a humorous depiction of U.S. president Joe Biden.
Memecoin traders are flocking to a new fad in degen tomfoolery — a breed of Solana-based tokens based on “poorly drawn” celebrities and political figures.
Newly-listed memecoins such as “Jeo Boden” and “Danold Tromp” — with intentionally janky art to match — have gained 174,900% and 59,900% after their launch.
One trader even claims to have made some serious returns on these tokens — despite the coins themselves having no public founder, no roadmap, and offering nothing in the way of utility.
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