The Biden-themed Solana memecoin fell sharply during the first U.S. presidential debate between Joe Biden and Donald Trump on Thursday night.
Jeo Boden (BODEN), a token referencing a misspelling of U.S. President Joe Biden’s name, saw its price plummet by more than 40%, from around $0.15 to $0.08, according to CoinGecko.
Geo Bourdain (BODEN)
Around the same time, HUNTBODEN, a meme coin that references Biden’s son Hunter Biden, plunged 50% from $0.006 to $0.003, while the JILLBODEN token fell 9% to $0.000103.
HUNTBODEN
Trump-themed memecoins also fell, with Ethereum-based tokens MAGA (TRUMP) and MAGA Hat Token (MAGA) both falling 20% in the same time frame.
YOURSELF 帽子（YOURSELF）
The debate, which aired on CNN at 9 p.m. ET, did not mention Bitcoin or cryptocurrencies, despite traders’ keen interest in their potential impact on the industry.
The 2024 U.S. presidential election is entering the crucial months leading up to Election Day on November 5. Trump has repeatedly expressed support for Bitcoin and the cryptocurrency industry in recent months and is currently seen as a more cryptocurrency-friendly candidate.
Standard Chartered Bank predicts that Trump's victory will boost the Bitcoin market and create a favorable regulatory environment for the cryptocurrency market.
Meanwhile, several prominent cryptocurrency leaders and celebrities have expressed their support for Trump. The Winklevoss twins recently revealed that they donated $2 million in Bitcoin to Trump's campaign.
Additionally, ARK Invest CEO Cathie Wood expressed her willingness to vote for Trump in a recent interview, saying that Trump would be the best choice for the U.S. economy.
Billionaire entrepreneur Mark Cuban is skeptical about Trump and Biden's understanding of crypto. However, he believes Biden may lose ground to SEC Chairman Gary Gensler, who is known for his tough stance on the cryptocurrency industry.
