BODEN trader loses nearly $8M, but memecoin season still on track

Biden-related memecoins fell over 60% since the US president dropped out from the 2024 election.

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BitMEX Co-founder Backs Meme Coins: A Boon For Dogecoin, Shiba Inu, PEPE?

Meme coins, the once-dismissed “joke” tokens, are rapidly solidifying their position in the multi-trillion-dollar scene. According to CoinMarketCap, meme coins now command a cumulative market cap of over $45 billion. Interestingly, they are on an upward trajectory as thousands of meme coins are minted predominantly on top platforms like Solana, Ethereum, and Base. Analysts and investors are taking notice as meme coins like BOME, PEPE, and Dogecoin boom. Most predict this subset of crypto will expand and become a core part of the industry in the coming years. Arthur Hayes Backs Meme Coins In a recent interview, Arthur Hayes, the BitMEX co-founder, joined the growing list of meme coin supporters. Hayes backed meme coins, stating that these tokens are increasingly gaining traction because of their simplicity. Unlike complex decentralized finance (DeFi) protocols or AI, they require no technical knowledge. Therefore, this feature and accessibility continue to broaden their appeal. This position also seems to resonate with Raoul Pal, who, in the same interview, added that meme coins are rising because of the cultural connection these tokens tag. As constructed, meme coins are meant to ride on internet hype and cultural relevance. Related Reading: Potential Downtrend In Play? TON Struggles As Price Falls Below $7.7 Therefore, their playful nature and relatable themes resonate with a global audience. In turn, this helps forge a strong connection with the trend, as evidenced by the popularity of the viral BODEN meme coin. More analysts are coming out to back these tokens. Earlier, one analyst said at least three of these tokens would each command at least $100 billion in market cap in the next crypto bull run. Dogecoin is the most valuable meme coin, with a market cap exceeding $20 billion. If Dogecoin, for example, rallies to command a $100 billion market cap, DOGE holders will massively benefit. As of mid-June, only Bitcoin, Ethereum, and USDT, a stablecoin, have market caps exceeding $100 billion. Despite its sharp expansion, even Solana is still perched at fourth, boasting a slightly over $66 billion market cap. Aptos To Take Over From Solana: A Meme Coin Host While Hayes backed meme coins, he predicted that Aptos would flip Solana to become the second largest and most active layer-1 platform after Ethereum within three years. Interestingly, this clashes with the current trend and Hayes’ position. Related Reading: Cardano Founders Pig NIKE Sparks Memecoin Craze, Market Cap Nears $1 Million Because of Solana’s high scalability and low fees, the platform is emerging as a home of meme coins, taking over from Ethereum. Even so, Hayes didn’t provide any explanation, saying all details will be made public in September. Earlier on, the BitMEX co-founder downplayed the threat posed by Solana on Ethereum’s lead. In his view, the first smart contracts platform has strength in its developer community and anchors decentralized finance (DeFi). Feature image from DALLE, chart from TradingView

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Trump token dumps 31% despite doubts hes behind the DJT token

Trump hasnt confirmed or denied ties to the DJT token, but a blockchain analytics firm and industry leaders raised doubt that Trumps team launched it.

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Trump-themed MAGA memecoin rallies after his pro-crypto comments

Politically themed memecoins defy the crypto markets drab performance by rallying in excess of double-digit gains.

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Crypto Presidential Rally: TRUMP Soars 36.2% And Flips BODEN

In a year full of global elections, the crypto industry remains expectant and critical of every candidates stance on cryptocurrencies. The US presidential elections could pose a turning point for regulations and adoption that could affect the industry worldwide. On Wednesday, Donald Trump, former US president and Republican candidate, stated his support for the industry [...]

The post Crypto Presidential Rally: TRUMP Soars 36.2% And Flips BODEN appeared first on Crypto Breaking News.

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Jeo Boden Meme Coin Soars 20% After Trump Diss Details

The memecoin “Jeo Boden” has taken the crypto world by storm, riding on the back of a lukewarm comment from former US President Donald Trump. The whimsical cryptocurrency, a playful misspelling of President Joe Biden’s name, experienced a huge increase after Trump mentioned it at an NFT event in Florida. What was once a subject of amusement has now become a serious investment, as Boden surged 20% following Trump’s offhand remark. Related Reading: $20 On The Horizon For XRP? Unpacking A Potential 650x Surge And What It Means Trump Rally Or Fleeting Frenzy? Analysts Divided The cryptocurrency community has been divided over the impact of Trump’s mention of Boden. Some analysts, such as Samantha Wilkins, believe that any mention from a prominent figure like Trump is positive for the memecoin. They contend that Boden has shown to be a tenacious and astute investment, and that the excitement around it has only grown as a result of Trump’s remark. Trump Speaks on $BODEN at NFT Event “That’s a Lotta Money for a Coin, I Don’t Like That Investment” Audio Source: @realDannyNelson pic.twitter.com/8NcpuCc6ZI db (@tier10k) May 9, 2024 However, some experts remain skeptical. They caution that Boden’s value is built on hype rather than utility, making it susceptible to swift market shifts. A single negative tweet from Trump or a change in market sentiment could cause Boden to come crashing down as quickly as it rose. Will Trump Re-Boden The Market? Adding another layer of intrigue to the Boden saga, the prediction platform Polymarket has created a contract speculating on the likelihood of Trump mentioning the memecoin again before July. Currently, the contract’s “yes” shares are trading at $0.05, indicating an 11% chance that Trump will utter the word “Boden” in the coming months. Source: Polymarket This unique situation presents an unusual scenario where the value of a memecoin hinges on the whims of a former president. If Trump revisits Boden in a future speech or tweet, it could trigger another surge in price. However, if he remains silent, the current hype surrounding Boden may fizzle out, leaving investors holding a depreciating digital punchline. Jeo Boden is currently trading at $0.2799. Chart: TradingView Boden: A Gamble On Speculation The rise of Boden serves as a cautionary tale for memecoin enthusiasts. While these tokens can offer explosive returns, their value is often tied to fleeting trends and external factors beyond their control. With the enigmatic Trump as a wildcard influence, the future of Boden remains uncertain. Related Reading: XRP All Talk, No Action? Social Media Booms, But Price Stuck In The Bear Pit Investors eagerly await the next chapter in this bizarre crypto story, as the saga of Boden continues to unfold. It is a gamble on speculation, where the coin’s value dances on the edge of uncertainty. The Boden phenomenon highlights the unpredictable nature of memecoins and the risks associated with investing in such volatile assets. Featured image from Reddit, chart from TradingView

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After WIF, BONK, BODEN: Top Crypto Trader Now Buys These 2 Memecoins

Memecoins are once making waves in the crypto market. In the last 24 hours, 4 of the 10 best-performing cryptocurrencies in the top 100 are meme coins. The biggest gainers include BONK (+10.2%), PEPE (+4.8%), WIF (+4.7%) and FLOKI (+4.1%). With meme coins slowly regaining, crypto traders are seemingly focusing on lesser-known coins. Top Crypto Trader Focuses On These 2 Memecoins According to data from on-chain analysis service Lookonchain, the renowned crypto trader known as paulo.sol has been making significant moves into new memecoin territories. Paulo.sol, who has previously amassed substantial profits from meme coins like BONK, WIF, and BODEN, is now shifting his focus to acquiring significant stakes in PUPS and POPCAT. What a legend! paulo.sol has realized profits of $9.51M on $WIF, $7.04M on $boden and $6.28M on $BONK. 1/ Let's dig into his trades to see what he's buying. pic.twitter.com/2axUwHb3el — Lookonchain (@lookonchain) April 26, 2024 Lookonchain’s recent posts on X (formerly Twitter) provide a deep dive into paulo.sol’s past and present investment patterns. “What a legend! Paulo.sol has realized profits of $9.51M on WIF, $7.04M on BODEN, and $6.28M on BONK,” Lookonchain tweeted. In total, the crypto trader has made $22 million in realized profits. Related Reading: Crypto Bull Run Set To Return Next Week, Predicts Arthur Hayes The posts further reveal that paulo.sol bought into BONK early in November 2023, capturing substantial gains as its value surged. As early as Nov 11, 2023, paulo.sol noticed the rising of BONK and bought BONK. He made ~$6.28M by buying BONK at low prices and selling at high, the data provider stated. The crypto trader continued his strategy by investing in WIF and BODEN in December 2023 and March 2024, respectively, following their sharp price increases. Notably, paulo.sol did not buy WIF and BODEN when they first went online, but paid attention to and bought heavily when they first rose sharply, Lookonchain observes. As of now, paulo.sol continues to hold 12.87 million BODEN tokens valued at approximately $7.6 million and 1.87 million WIF tokens worth around $5.7 million. However, his most recent activities show a pivot towards new meme coins, PUPS and POPCAT, sparking interest among investors and analysts alike. Related Reading: Why Is The Crypto Market Down Today? Key Reasons Explained Lookonchain noted, “We noticed that paulo.sol is buying PUPS and POPCAT recently. He spent $1.77M to buy 4.3M POPCAT at $0.42 today. And he has spent $5.97M to buy 101,712 PUPS at $59 since Apr 11, becoming the largest holder of PUPS on Solana.” The impact of paulo.sol’s investment has been palpable in the market dynamics of the newly favored meme coins. Despite a general downturn in the memecoin sector, POPCAT’s price surged by 52% today, trading at approximately $0.51 with a trading volume increase of 51% to $166 million. Over the past nine days, POPCAT has risen a whopping 410%. On the other hand, PUPS is seeing a price drop of 4.2% today, trading at $36.96, with a 27% fall in trading volume to $2.82 million. Since reaching an all-time high above $152 on April 14 (on Coinex), the PUPS price is down more than 78%. Featured image from Binance Academy, chart from TradingView.com

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Solanas BODEN Token, Nodding to Joe Biden, Sees Major Uptick After TRUMP Coin Rally 

The digital asset known as maga (TRUMP) has experienced significant appreciation, while a newer cryptocurrency, jeo (BODEN), has seen its value skyrocket by 1,597%, as per data from coinmarketcap.com. In the last 24 hours alone, BODEN has witnessed trading volume amounting to $34.50 million on decentralized exchange platforms such as Raydium and Orca. Biden-Inspired BODEN [...]

The post Solanas BODEN Token, Nodding to Joe Biden, Sees Major Uptick After TRUMP Coin Rally  appeared first on Crypto Breaking News.

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Crypto is Very Dangerous, Says Anne Boden of Starling Bank

Anne Boden, the founder and Chief Executive Officer of Starling Bank, said cryptocurrencies are “very dangerous”, threatening the existing financial infrastructure and its status quo. (Read More)

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