Jeo Boden (BODEN) Archives - Coin Engineer

Former President Trump’s Crypto Investments Hit Hard by Market Drop

Tanju Akbıyık — Fri, 05 Jul 2024 06:31:32 +0000

Donald Trump’s crypto assets, including MAGA and BODEN memecoins, have plummeted in value, with his portfolio dropping by 75% since June, now worth $7.85 million.

The sharp decline in the cryptocurrency market has significantly impacted the crypto assets of former US President and 2024 Republican Party presidential candidate Donald Trump. Notably, Trump-themed MAGA (TRUMP) and Joe Biden-themed Jeo Boden (BODEN) memecoins have suffered substantial value losses. Over the past 7 days, TRUMP has dropped by 45%, while BODEN has plummeted by 76%.

According to Arkham Intelligence data, Donald Trump’s memecoin assets have decreased by 75% since June, falling to $7.85 million. Trump’s crypto assets, which were valued at $31 million at the beginning of June, have largely eroded and are now only at the $7.85 million level. This signifies a 75% drop in the value of Trump’s crypto wallet.

Currently, Donald Trump’s wallet holds 579,290 TRUMP worth $2.88 million, 489.18 Ethereum (ETH) worth $1.53 million, TROG worth $1.46 million, and 377,131 WETH worth $1.18 million.

However, it is important to note that none of these memecoins were purchased by Donald Trump. These tokens were sent to Trump by various cryptocurrency developers to draw attention to their projects.

The significant devaluation of Donald Trump‘s crypto assets serves as a noteworthy example for both the general state of the crypto market and individual investors. Trump’s memecoins once again highlight how volatile and unpredictable the cryptocurrency market can be.

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Memecoins Inspired by Biden and Trump Plummet During First Presidential Debate

Tanju Akbıyık — Fri, 28 Jun 2024 10:00:02 +0000

Inspired by United States President Joe Biden and contender Donald Trump, memecoins sank up to 53% as the duo fought it out during the first of two live presidential debates.

Market Reaction to Discussion

Based on CoinGecko statistics, the Trump token with the Make America Great Again theme started to drop roughly 20 minutes before the June 27 debate started at 9 PM ET, declining 24.6% to $7.23. Hit even worse, the Joe Biden-themed Jeo Boden (BODEN) dropped almost 53% from its June 27 high of $0.17 to $0.08 soon after the discussion. It has lately just slightly rebounded to $0.091. Other Trump-inspired tokens, Super Trump (STRUMP) and BABYTrump (BABYTrump), also had double-digit drops both during and after the discussion.

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Focus of Debate: Absence of Bitcoins

During the conversation with Trump and Biden, they mentioned issues related to the economy, immigration, conflicts, and abortion most often. Indeed only one question was about bitcoin, and none of the candidates touched the topic of the bitcoin industry themselves or when asked by the moderators. This is so especially given that super political action groups funding the bitcoin sector have raised over $200 million aiming at financing the 2024 elections. During the 90-minute discussion, Bitcoin climbed 1.1% while political-themed memecoins fell.

PredictIt’s data from a prediction markets platform revealed Biden’s chances dropped as Trump’s chances of winning the president grew. Throughout the discussion, Biden stammered through certain responses and neglected to complete other statements, according to observers. While Biden’s dropped drastically from $0.48 to $0.37 in the same period, Trump’s chances on PredictIt rose from $0.53 to $0.63.

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Trump-Related Memecoins Plunge Amid Rumors of Official Token Launch

Tanju Akbıyık — Tue, 18 Jun 2024 09:14:57 +0000

Under speculation that Donald Trump’s team started an “official” token on Solana, MAGA (Trump) and other Donald Trump-related memecoins dropped more than 30%. “Per conversations, Trump is launching an official token called TrumpCoin under the ticker DJT,” stated Pirate Wires in a June 17 X post to its 63,800 following. Additionally claimed by Pirate Wires was Barron, Trump’s 18-year-old son, “spearheading” the token.

DJT Token Rumors Start Market Chaos

Despite all the excitement, Donald Trump’s campaign has not verified the token release. Blockchain companies like Bubblemaps appear to have no real connection to the presidential contender. According to Bubblemaps, 43% of the whole supply comes from Solana-based automated market producer Raydium, while roughly 67% of the supply is in one cluster.

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The stories generated notable market action. Based on CoinGecko data, Trump dropped 31% to $7.46 inside a four-hour window following the rumors. Since the news, the Make America Great Again-themed Trump market cap has seen more than $150 million wiped out.

Effect on Current Trump-Themed Memcoins

Less valuable Trump memecoins suffered even more. From $0.95 to $0.60, the Solana-based Donald Tremp (TREMP) memecoin dropped 36.8%. Then it rebounded to $0.76 in a comparable period. Fascinatingly, the Jeo Boden (BODEN) token connected to Joe Biden, the major presidential competitor of Trump, dropped almost 22% too.

On June 18, DJT shot to a $120 million market capitalization, yet until recently it was hardly known. Data from Birdseye, however, indicates that April 22 was the first DJT token production date.

Industry Doubt and Awaiting Verification

Several business leaders have voiced annoyance at the suspected reasons behind the token release, even while Trump’s confirmation is awaited. With the approaching presidential contest, candidates including Trump, Biden, and Robert F. Kennedy Jr. began paying the sector greater attention.

Particularly with regard to memecoins connected to well-known people, the uncertainties and rumors about the DJT token draw attention to the volatility and speculative character of the bitcoin market. Investors and industry observers wait for government comments; meanwhile, the market responds to the changing news and attitude.

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