Post-Super Tuesday sees meme coin surge with BODEN up 4,700% and TRUMP token's value increase.
Following Super Tuesday's outcomes in the US, the meme cryptocurrency market saw an uptick, as Joe Biden and Donald Trump were announced as their parties' nominees.
Leading the surge in the meme coin sector, tokens on the Solana blockchain exhibited significant growth. The jeo boden (BODEN) coin, inspired by Biden, surged over 4,700% according to CoinMarketCap data. Currently, the token's value stands at $0.04, whereas it initially oscillated around $0.002 at its inception.
While these assets experienced a boost, the cryptocurrency tied to Donald Trump, named TRUMP, saw a decrease to $8.08. Despite this drop, the token's price remains substantially above its late last year valuation.
It's important to note that neither BODEN nor TRUMP coins have direct connections with the respective politicians. Nonetheless, Trump was once given 579,281 TRUMP tokens by the project's creators. This January 2024, the value of these tokens increased significantly. For context, in November 2023, the trading price ranged from $0.01 to $0.08. By the end of February, Trump's holdings in the TRUMP meme coin appreciated to a value of $4.05 million.
This surge in value for both cryptocurrencies is attributed to the political successes of Biden and Trump during the Super Tuesday events. Trump secured the Republican nomination in 14 out of 15 states, whereas Biden's only loss was in the American Samoa primary.