Analysts name the reasons for the growth of a cryptocurrency token dedicated to Joe Biden

Editor’s note: not financial advice!

The Jeo Boden memecoin (BODEN), created in honor of US President Joe Biden, has skyrocketed in value over the past 24 hours. This happened after presidential candidate Donald Trump drew attention to the digital asset and spoke about it in a public speech.

According to CoinGecko, the price of the meme coin has jumped by almost 10% over the past 24 hours, while trading volume has increased by 20.65%. The market capitalization of the memecoin is $ 251 million.

Donald Trump held a Trump Cards NFT Gala for the owners of his digital collection. At the event, the politician was asked about the BODEN coin by one of his fans.

«I don’t like that investment,» Trump said in response to the unexpected question. In a recent statement, Trump hinted at supporting bitcoin and cryptocurrencies, which came as a surprise to the digital asset community, as the billionaire is a Republican who has been a vocal critic of virtual currencies.

As a reminder, former US President Donald Trump’s crypto wallet recently reached $ 5 million, all thanks to TRUMP digital tokens. The developers of the crypto project presented the former president with 579,281 tokens.

No Worries strongly advises readers not to invest in dubious crypto projects and digital tokens that are subject to high volatility.