Jeo Boden Meme Coin Soars 15% After Donald Trump Says It's A Bad Investment

Jeo Boden Meme Coin Soars 15% After Donald Trump Says It’s A Bad Investment

Updated: 09 May 2024

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The Jeo Boden (BODEN) meme coin surged 15% in the last 24 hours after former US President Donald Trump said it’s not a good investment.

Investors ignored Trump’s investment advice and BODEN is among the top crypto gainers in the last 24 hours, trading at $0.348 as of 03:37 a.m. EST with a market cap at more than $240 million.

“That’s a lot of money for a coin,” Trump said, while speaking at an event for Trump non-fungible token (NFT) holders at his Mar-a-Lago resort on May 8. “I don’t like that investment.”

Jeo Boden is a meme coin on the Solana blockchain that pokes fun at US President Joe Biden. It’s fallen 14% in the past seven days and 57% in a month.

Trump Speaks on $BODEN at NFT Event

"That's a Lotta Money for a Coin, I Don't Like That Investment"

Audio Source: @realDannyNelson pic.twitter.com/8NcpuCc6ZI

— db (@tier10k) May 9, 2024

Donald Trump Takes Pro-Crypto Stance After Jeo Boden Comment

During the event, Trump, who is vying for US President under the Republican ticket, came out in support of cryptocurrencies. He opposed the hostility of US regulators towards crypto, saying it was pushing crypto businesses out of the US.

🚨 BREAKING 📰 JUST IN:

Donald Trump addresses his stance on #Crypto

"I'm good with it" – Trump

(2 clips 👇) 📽️#Bitcoin #BTC $BTC pic.twitter.com/9J9nzJScBq

— Kevin Svenson (@KevinSvenson_) May 9, 2024

“We’ll stop it because I don’t want that,” he said. “If we’re going to embrace it, we have to let them be here.”

Trump also took a jab at President Biden and the US Securities and Exchange Commission (SEC) chair, Gary Gensler, saying they were biased against crypto.

While the Trump presidential campaign does not currently accept donations in cryptocurrencies, the presidential aspirant also said he was open to the idea.

Trump’s recent remarks are boding well for crypto, especially meme coins. Besides BODEN, another Solana-based meme coin, Sealana ($SEAL), is amassing interest after its presale raised $300,000 in its opening week.