Tag Archives: BODEN

Bitcoin

BODEN Drops 55% As KAMA Soars

Leave a comment

The political panorama within the US has seen a big growth after President Joe Biden introduced he was dropping out of the presidential rally. Following the information, the PolitiFi memecoin sector noticed a significant shift as Biden-themed tokens instantly plunged and Kamala Harris-inspired tokens soared.

Associated Studying

Crypto Group Celebrates Biden’s Candidature Withdrawal

The November elections have been a sizzling matter for the crypto business. After years of a hostile and “overreaching” regulatory strategy from the US authorities, politicians’ stance on cryptocurrencies has turn out to be a turning level for a lot of voters.

On Sunday afternoon, US President Joe Biden introduced he was stepping down as a Presidential Candidate for the upcoming elections. Biden detailed that he determined to deal with fulfilling his duties as president for the rest of his time period.

In one other submit, he endorsed vice-president Kamala Harris because the candidate for the Democratic social gathering:

“At the moment I need to supply my full help and endorsement for Kamala to be the nominee of our social gathering this yr. Democrats -It’s time to return collectively and beat Trump. Let’s do that.”

Following the announcement, business figures like Artur Hayes and Justin Solar reacted on-line. The Tron founder replied to Biden’s X submit, stating, “Goodbye Biden, crypto will final eternally.”

In the meantime, The BitMEX co-founder famous that Trump’s possibilities of successful would solely enhance if Harris just isn’t the Democratic nominee. Hayes additionally stated Trump will “smoke her like a Cuban” if she “really turns into the nominee.”

The crypto group expressed blended opinions, with some customers sharing a bearish sentiment. Some consider that Trump’s possibilities of successful had been clear towards Biden however might considerably cut back relying on the Democratic nominee.

Quite the opposite, others appear to consider that Biden’s rejection of his nomination will likely be bullish for the crypto business whatever the nominee. Moreover, Polymarket reported that Republican candidate Donald Trump maintains a large lead.

Presidential Election Winner prediction. Supply: Polymarket on X

Per the prediction market web site, Trump has a 65% likelihood of successful the presidential election in November, with practically $40 million wager in his favor.

A Change In PolitiFi Memecoin Management

The PolitiFi memecoin sector noticed a shakeout after the information. The worth of Biden-inspired tokens began to drop instantly, with its main token, Jeo Boden (BODEN), shredding practically 60% of its value.

The memecoin went from buying and selling at $0.025 to the $0.01 value vary in half an hour. BODEN additional plunged within the following hours, reaching the $0.0086 help zone. This efficiency represents a 65% and 73% decline within the final 24 hours and 7 days.

The present value represents a 99.2% drop from its April all-time excessive (ATH) when it traded at $1.04. Moreover, the token noticed a 66% market capitalization discount because the announcement, going from $17.5 million to $5.99 million.

Nonetheless, Kamala Harris-inspired tokens surged within the final 24 hours. Kamala Horris (KAMA) was the biggest gainer amongst PolitiFi tokens previously day. KAMA went from hovering between the $0.011-$0.019 degree to the $0.025 value vary in two hours, hovering 150%.

The memecoin, launched in Could, registers a 257% and 1,433% enhance within the weekly and month-to-month timeframes. As of this writing, KAMA has retraced above the $0.015 mark, at present buying and selling at $0.016.

Associated Studying

Trump-inspired tokens additionally noticed a big upswing after Biden’s dropout. MAGA (TRUMP) rose 12% after the information, momentarily reaching the $7.75 resistance degree. In the meantime, MAGA Hat (MAGA), Tremendous Trump (STRUMP), and Donald Tremp (TREMP) rose 13%, 33%, and 25%, respectively.

Memecoin, BODEN, BODENUSDT
BODEN’s efficiency within the three-day chart. Supply: BODENUSDT on TradingView

Featured Picture from Unsplash.com, Chart from TradingView.com

Bitcoin

TRUMP Soars 36.2% And Flips BODEN

In a yr full of world elections, the crypto trade stays expectant and demanding of each candidate’s stance on cryptocurrencies. The US presidential elections might pose a turning level for laws and adoption that would have an effect on the trade worldwide.

On Wednesday, Donald Trump, former US president and Republican candidate, said his assist for the trade and criticized Biden’s administration for its stance on digital belongings. MAGA (TRUMP), the Trump-inspired memecoin, noticed its worth skyrocket  63% within the following hours.

Associated Studying

Trump’s Stance On Crypto

The Republican candidate held a gathering on Wednesday at his Mar-a-Lago resort in Palm Seaside, Florida. Holders of NFTs bearing Trump’s identify and likeness attended the Trump Playing cards NFT Gala.

Throughout this occasion, the previous US president strongly criticized Biden’s administration and its hostility in direction of the sector. He revealed he’s “high-quality” with crypto and needs to make it a “strong” trade.

Trump claimed he’s the most suitable choice for individuals who are in favor of cryptocurrencies:

(…) I’m high-quality with it. I wish to make sure that it’s good and strong and the whole lot else. However I’m good with it. And if you would like, in case you like crypto in any kind, and it is available in plenty of completely different types, in case you’re in favor of crypto, you higher vote for me.

Furthermore, the Republican candidate asserted that “crypto is transferring out of the US due to the hostility in direction of it,” one thing he alleges he doesn’t wish to proceed and guarantees to cease.

When requested what he would do to cease the exodus of digital asset companies, he said that to embrace them, they must allow them to be within the nation. To obtain this, the candidate promised a extra welcoming regulatory framework for crypto.

As a part of his jab on the present administration, Trump mimicked US President Joe Biden, claiming he could be clueless if requested about cryptocurrencies. He additional added, “The Democrats are very a lot in opposition to it.”

TRUMP Flips BODEN As Worth Soars

After Trump’s declarations, two memecoins impressed by the politicians noticed a worth response. Jeo Boden (BODEN) soared 23.5% within the following hour, going from $0.34 to $0.42.

Since then, the value has retraced to hover between the $0.35-$0.36 vary. BODEN is buying and selling at $0.3492, representing a 15.1% enhance within the final 24 hours.

The token’s day by day buying and selling quantity additionally noticed a big 35.7% surge, with over $20 million traded prior to now day. Regardless of benefiting from the Republican candidate’s jab at its inspiration, BODEN Nonetheless shows purple numbers within the longer timeframes, with a 29.9% and 59.8%  weekly and month-to-month lower.

Because of this, TRUMP’s $252 million market capitalization flipped BODEN’s $239 million. The Trump-inspired token grew to become the 14th largest memecoin by market capitalization, per CoinGecko knowledge.

Associated Studying

Furthermore, TRUMP seemingly gained this spherical with crypto buyers, which rallied 63% after Trump’s assertion. The token surged from $4.2 to $7.1 within the following hours earlier than retracing to the $5.3 degree.

TRUMP trades at $5.43 on the time of writing, representing a 36.2% enhance within the final 24 hours.

TRUMP's efficiency within the 1-week chart. Supply: TRUMPUSDT on TradingView

Featured Picture from Unsplash.com, Chart from TradingView.com