Discover the latest meme coin sensation 'Jeo Boden' and the frenzy around meme coins inspired by politicians. Stay updated on crypto news.

Crypto enthusiasts who jumped on the latest meme coin craze—dubbed “Jeo Boden”—early Tuesday are currently enjoying returns of well over 100 times their initial investment. Moreover, a plethora of imitative coins based on various politicians and public figures have emerged.

Solana has emerged as the premier destination for crypto enthusiasts eager to speculate on meme coins during this cycle, and there seems to be no slowdown in sight. The latest meme coin trend to grace Solana's blockchain features coins named after misspelled politicians' names—such as BODEN, TREMP, and DANOLD—all experiencing meteoric rises. While TREMP predates BODEN, the latter has taken the lead in terms of market capitalization.

BODEN, the symbol for the coin “Jeo Boden,” has surged by 1,133% in a single day, boasting a market cap exceeding $40 million. Its success has inspired a plethora of derivative projects currently dominating the meme coin market.

This phenomenon, dubbed “Spoderman Politicians,” draws its inspiration from the Spoderman meme—a character famously depicted in Microsoft Paint that frequently featured in online comics.

solana today pic.twitter.com/2cTOYFuU1L

Is “Jeo Boden” gaining traction due to the upcoming U.S. elections? Perhaps, but it's more likely due to its inherently quirky and humorous nature. Moreover, meme coins have experienced a surge in popularity over the past week amidst Bitcoin's ascent to a new all-time high.

The Jeo Boden website adopts a minimalist approach, adorned with a banner proclaiming “own onli boden nd be happy.”

Some users on Twitter (aka X) speculate that coins like BODEN and TREMP could evolve into platforms for betting on the outcome of the U.S. Presidential Election as it draws nearer.

$maga and $boden r nothing more than meme coins today

but as we approach the election both will become actual prediction markets, ie, if trump loses maga dumps, and vice versa

most entertaining outcome is most likely

— qw (@QwQiao) March 6, 2024

Boden began capturing the attention of Crypto Twitter on Tuesday. Today, the trend has expanded beyond just politicians to encompass figures like “Wutalik Butterin” (inspired by Ethereum creator Vitalik Buterin) and “Wandrew Tate” (based on the former professional kickboxer and controversial social media personality).

you could have secured generational wealth for your children’s children, but instead you thought androo tete was funnier than jeo boden so now your family will starve

— blockgraze (@blockgraze) March 6, 2024

Meme coins are renowned for their volatility and are often subject to “rug-pulls” as creators withdraw liquidity and exit, leaving subsequent buyers with worthless coins. As always, this is not financial advice—although it does offer some amusement.