Biden-related meme coin surges 4,700% amid Super Tuesday results

The meme coin market reacted with growth after Super Tuesday in the United States, which saw Joe Biden and Donald Trump named presidential candidates.

Meme coins based on the Solana blockchain lead the market amid the overall rise. Based on Biden’s name, the jeo boden (BODEN) token is up more than 4,700%, according to CoinMarketCap. At the time of writing, the asset is trading at $0.04. At launch, the token price fluctuated around $0.002.

Against rising asset prices, the Donald Trump-related cryptocurrency TRUMP fell to $8.08. However, the cost of the token is still significantly higher than its value at the end of last year.

Both BODEN and TRUMP are not directly associated with politicians. However, Trump previously received 579,281 TRUMP from the project team. In January 2024, the asset went up sharply. In comparison, in November 2023, it traded between $0.01 and $0.08. At the end of February, the value of the TRUMP meme coin portfolio in Trump’s wallet increased to $4.05 million.

The price jump is likely due to Biden and Trump’s political victories in the Super Tuesday contests. Trump won the election as the Republican candidate in 14 out of 15 states, while Biden only lost the primary in American Samoa.