Between Super Tuesday and tonight’s State of the Union speech, it’s a big week in the political sphere — so naturally the meme economy needed to reflect this.
A new crop of memecoins has gained momentum on Solana this week, featuring poorly drawn and intentionally misspelled takes on leading political and cultural figures. Jeo Boden ($BODEN), a humorous take on President Joe Biden, kicked off the meta and is currently up nearly 130,000% since launching on March 4 with a market cap of more than $26.9 million.
A portfolio screenshot by a trader named “barkery,” who claimed to have turned $260 into nearly $433,000 by buying $BODEN, went viral on X (formerly known as Twitter), helping fuel the coin’s rise and the creation of a number of copycat projects.
Two obvious competitors have launched in Doland Tremp ($TREMP) and Danold Tromp ($DANOLD), which currently sit at $5 and $3.5 million market caps, respectively, as well as a menagerie of misspelled political leaders like Berik Obema, Vlademer Poten, and Xi Jonpeng. Unsurprisingly, the meme soon extended to cultural figures like Lianel Massi, Wandrew Tate, Merk Zukkreberg, and beyond.
The current cartoon meta finds its roots in Spoderman, a recurring character in the poorly-drawn Microsoft Paint comic series “Dolan” that first popped up in 2012. As is common with memecoins, the drawing style and interpolation of letters have been quickly applied to a new crop of characters and corresponding crypto tickers.
wut did u guys do pic.twitter.com/rSgiEHrws9
— bob.
b/era (@serbobross) March 6, 2024
While $BODEN, $TREMP and $DONALD have all fallen from their price peaks this morning, it remains to be seen whether the memes will have enough legs to carry their coins through a general election season between Biden and Trump that looks likely to heat up following Republican primary challenger Nikki Haley’s exit yesterday. Tonight’s State of the Union address may be the first test for the meta’s longevity.
As always, coverage of memecoins is never financial advice — investing in memecoins is an incredibly risky proposition due to a lack of fundamentals, unvetted contracts and the likelihood of rug pulls.
The post Political Memecoin Mania Sweeps Solana With Biden and Trump-Themed Coins appeared first on nft now.