With the rapid development of the Web3 industry, new concepts appear. One of these is meme tokens, which have already become popular among the crypto community due to their entertaining nature and references to pop culture.
Among them are assets exploiting political topics. Some experts believe that they are capable of surpassing the growth and profitability of the memcoins Dogecoin (DOGE), Shiba Inu (SHIB) and Pepe (PEPE).
Today we bring you an overview of two such meme tokens, Jeo Boden (BODEN) and MAGA (TRUMP).
Meme token — what is it?
Memecoin is a token based on popular internet memes or characters that are humorous and entertaining in nature. Their value is largely determined by social media, celebrity endorsements, and the vast meme culture that thrives on the Internet.
They work like regular tokens. Most of them operate on Ethereum or Solana using smart contracts. It should be noted that memcoins are highly volatile and prone to sudden price changes within short periods of time. Usually have a very large or unlimited supply, resulting in a low cost.
Despite this, meme tokens have become a significant part of the cryptocurrency market and have attracted a large following. Some believe that these coins are a breath of fresh air in the cryptocurrency industry, while others believe that they undermine people’s trust in blockchain technology.
CoinMarketCap lists more than 2,000 meme tokens, but half of them are not traded at all and have actually depreciated, and only about 70 coins have a market capitalization of more than $1 million
What is Jeo Boden (BODEN)?
Jeo Boden (BODEN) is a meme token created to capture the essence of meme culture around the figure of current US President Joe Biden.
The history of BODEN and the project team
Memcoin was launched on March 3, 2024. The project team, as with most meme tokens, remains anonymous.
Subsequently, it was listed on such centralized exchanges as LBank and CoinEx, which increased its liquidity and popularity among users. Soon after, the value of BODEN increased by 830% in just 6 hours of trading, attracting the attention of investors and crypto enthusiasts.
BODEN rose in price after former US President Donald Trump commented on the coin at the Trump Cards NFT Gala. When asked about BODEN, Trump expressed his lack of interest in the investment, after which the value of the meme token rose by 20%.
How does BODEN work?
The token runs on the Solana blockchain, which is known for its high transaction speed and low fees.
As a meme token, BODEN primarily serves as a community-driven digital asset. The main drivers of its value and popularity are Joe Biden-related social media trends, not intrinsic value, technological innovation, or practical utility.
BODEN price dynamics
At the time of writing, the price of BODEN is about $0.44, and the market capitalization is more than $300 million.
Since the start of price monitoring by CoinMarketCap and until May 22, 2024, it has increased by 822%.
What is MAGA (TRUMP)?
MAGA (TRUMP) is a meme token created around the image and political campaigns of former US President Donald Trump and his slogan “Make America Great Again” (MAGA). The token’s value is tied to news, Trump’s campaign or other stories happening in his personal life.
The history of TRUMP and the project team
The token was launched in August 2023 by crypto-enthusiasts Sean Faresh and Stephen Steele, who is the project’s chief marketer.
Subsequently, the token was listed on such exchanges as LBank, CoinEx, XT and others. MAGA (TRUMP) quickly rose in value and gained popularity among Trump supporters and the cryptocurrency community due to active promotion on social networks and especially after Donald Trump publicly stated his support for cryptocurrencies.
How does TRUMP work?
The meme token works on the Ethereum blockchain and uses the ERC-20 smart contract standard. The token later became available on the Solana network, BNB Smart Chain (BEP20) and Base.
TRUMP stands out from other memcoins by implementing a charitable program in which a portion of the profits are donated to organizations such as the National Support for Homeless Veterans and the Children’s Defense Fund.
TRUMP price dynamics
MAGA’s total supply is 47 million tokens, hinting at Trump’s second term in the White House as the nation’s 47th president if he wins the upcoming presidential election. Of the maximum amount, 46.5 million TRUMPs are in circulation at the time of writing.
From the moment CoinMarketCap began monitoring the price until May 22, 2024, it increased by 52,760%.
Comparison of BODEN and TRUMP
Here is a comparison chart of these two meme tokens at the time of writing:
| Characteristic | BODEN | TRUMP |
| Total stock | 690.33M BODEN | 46.5 million TRUMP |
| Circulation | 690.33M BODEN | 44 million TRUMP |
| Market capitalization as of May 22, 2024 | $216.43 million | $386.29 million |
| Current price as of 05/22/2024 | $0.31 | $8.78 |
| The main purpose | Supporting the meme culture around the figure of Joe Biden | Support for the political movement around Donald Trump |
| Charity program | No | Yes |
| Major stock exchanges | LBank, CoinEx | LBank, CoinEx, XT, MEXC |
Conclusions
The tokens Jeo Boden (BODEN) and MAGA (TRUMP) are vivid representatives of memecoins that gained popularity due to their references to famous political figures. They demonstrate how entertainment and social media can influence the value of cryptoassets, even if the latter have no practical value or technological innovation.
BODEN reflects the meme culture surrounding US President Joe Biden and runs on the Solana blockchain. His popularity is growing due to events and comments related to Biden, including influential statements and support on social media. TRUMP, in turn, focuses on Donald Trump’s image and campaign.
Although meme tokens are often criticized for their lack of real utility and high volatility, they remain an important part of the cryptocurrency market, attracting attention and attracting new entrants to the world of digital assets.
