Türkçe
Español
The movement in Solana meme coins is still going strong as Bitcoin marched towards $73,500, with meme coins taking the front lines in the market and hosting incredible surges. Later on, things changed, and Solana meme coins came to the forefront. Some of these coins emerged with memes of US presidents. So, what happened in the last 24 hours with one of the pioneers of this trend?
Current Status of Solana Meme Coin
The Solana-based memecoin parody of the President of the United States, Joe Biden, named Jeo Boden (BODEN), drew attention once again after a 54% increase in the last 24 hours as of March 25, pushing its market value over 250 million dollars.
Even more interestingly, despite some time having passed since its emergence, the meme coin is only traded on Solana’s decentralized exchange Raydium and has not yet been listed by any centralized exchange. When the meme coin was introduced on March 9, it was revealed that the developers had set a target market cap of 300 million dollars.
This wallet belongs to the Jeo Boden treasury and community. All donated funds will be used for marketing, listings, giveaways, etc. $BODEN has no association with Joe Biden. This token is a meme coin without real value or financial return expectations.
A Whopping 127 Million Dollars in a Short Time
Despite warnings from the developers, Solana-based memecoins have raised over 122.5 million dollars in just 27 presales this year alone, a surge described as insane. A statement by the Singapore-based crypto education company Gryphsis Academy was as follows:
MEME tokens have the ability to quickly attract attention due to widespread viral shares on social media platforms. An intriguing tweet or captivating Reddit post about a MEME token can spread like wildfire and reach large audiences in no time.
Gryphsis also emphasized the perception of scarcity and timing. The company noted that memecoins are influenced by investors’ emotions, highlighting the creation of a sense of urgency. Researchers stated:
Limited-time offers, exclusive airdrops, and urgency created with the support of influential figures or ecosystems force investors to act quickly. The fear of missing out on these short-term opportunities encourages quick decision-making, making individuals feel the need to jump on board without delay.
In a statement dated March 19, Anatoly Yakovenko, the co-founder of Solana, emphasized the ongoing Solana meme coin presale frenzy and made a statement urging them to “stop doing this.”
