Biden-Parodying 'Jeo Boden' Skyrockets 40% On Kraken Listing, Leaves Dogecoin, Shiba Inu, Dogwifhat In The Rear View Mirror

Jeo Boden, a meme coin parodying President Joe Biden, has been listen by cryptocurrency exchange Kraken, prompting its price to surge by over 40%.

What Happened: The exchange announced the listing of BODEN BODEN/USD and TREMP TREMP/USD, a meme coin parodying former President Donald Trump, on its X profile.

🐙 Giving the people what they want since 2011!

Available to trade now in 🇺🇸 on @krakenpro.

Vote $BODEN or $TREMP below! 👇 pic.twitter.com/swVgfmQyJr

— Kraken Exchange (@krakenfx) June 4, 2024

PoliFi tokens, which have grown in popularity as a way for users to show support for political candidates, originally gained attention with the MAGA Memecoin TRUMP/USD token.

BODEN and TREMP, inspired by caricatures named after a comical and irreverent version of Donald Duck called Doland, are rapidly gaining traction on Solana SOL/USD.

The introduction of these tokens on a major U.S. exchange represents a shift, as previously, U.S. residents could only trade PoliFi tokens on offshore or decentralized exchanges.

Following the announcement, BODEN is up over 40% in the past 24 hours, trading around a valuation of $250 million. TREMP is up over 25% within the same timeframe, trading just short of $150 million, according to CoinGecko data.

In terms of trading volume, BODEN recorded approximately $19 million, compared to TREMP’s $26 million.

While these figures are relatively modest in the larger cryptocurrency market—where Dogwifhat WIF/USD, for instance, sees volumes around $400 million—they indicate growing interest.

Also Read: Bitcoin Spot ETFs Record $887M Inflow On Wednesday, Second-Highest Ever

Why It Matters: On the betting platform Predictit, open to U.S. residents, Trump leads Biden by more than four percentage points.

This margin exceeds the poll aggregates from 270 to Win, which shows Trump with a narrower lead of less than one percentage point.

In contrast, Polymarket, which isn’t accessible to U.S. residents, displays a broader gap, with Trump leading Biden 56% to 38%.

What’s Next: For those looking to delve deeper into the trends and future of digital assets, the Benzinga Future of Digital Assets event on Nov. 19 will provide an opportunity to learn more.

Read Next: Mike Novogratz Predicts Bitcoin To $100K By The End Of 2024

Image created using artificial intelligence with Midjourney.