The Rise and Fall of BODEN Memecoins: Reaction to the Hunter Biden Affair
Date: 2024-06-12 Author: Henry Casey Categories: IN WORLD
Memecoin BODEN showed significant volatility amid the news of Hunter Biden being found guilty in a weapons case. The trial and subsequent fluctuations in the value of BODEN series memcoins attracted the attention of both investors and the public.
Hunter Biden's Guilty Plea
On June 11, 2024, a jury in a Delaware court found Hunter Biden, the son of the current US President, guilty of three counts of purchasing a firearm. The president's 54-year-old son was accused of hiding his drug addiction when purchasing a handgun in 2018, the Associated Press reported. As a result, he faces up to 25 years in prison, although experts believe that the actual prison term will not exceed two years.
Memcoin reaction
This news caused sharp volatility in the memcoin market, especially among the BODEN series of tokens.
- Joe Boden (BODEN): The token dedicated to President Joe Biden has increased in price by 16% over the past 24 hours, reaching $0.195. The token's market capitalization is $134.7 million, according to CoinGecko.
- Jill Boden (JILLBODEN): The memecoin dedicated to First Lady Jill Biden fell 9.8%, its value is now $0.00009.
- Hunter Boden (HUNTBODEN): The token dedicated to the president's son Hunter Biden showed the greatest volatility. The price initially rose by a record 116%, reaching $0.002, but soon collapsed to $0.0005, representing a 51% drop over the past 24 hours.
Dynamics of Competitive Memcoins
Amid the volatility of BODEN memecoins, PoliFi tokens associated with Joe Biden's main rival in the upcoming election are also showing different trends.
- Donald Tremp (TREMP): The memecoin associated with Donald Trump fell 7% and is now worth $0.95.
- MAGA (TRUMP): This token, associated with the Trump political campaign, rose 4.4% over the same period, reaching $13.2 with a market capitalization of $613 million.
Listing on Kraken Cryptocurrency Exchange
In recent news, cryptocurrency exchange Kraken announced the listing of memcoins BODEN and TREMP. This event attracted additional attention to these assets and may have influenced their current dynamics.
The situation with the Hunter Biden case and the subsequent reaction of the BODEN series of memecoins highlighted the volatility of the cryptocurrency market and its sensitivity to political news. Further evaluation of the National Consumer Protection System is expected in the near future, which may lead to further changes in the market.
