The likelihood that President Joe Biden will withdraw from the upcoming US presidential election has reached 35%, according to decentralized forecasting platform Polymarket. 📉

After Biden's unconvincing performance in the debate with former President Donald Trump, activity on Polymarket increased significantly.

The Jeo Boden token (BODEN), named after Biden, showed significant negative volatility during the debate, falling over 53% and falling from 17 cents to 8 cents before partially recovering to 9 cents.

BODEN is currently trading at 5 cents, down 29.7% in the last 24 hours. This highlights how political meme coins are sensitive to public opinion and events surrounding candidates.

Despite BODEN's decline, Bitcoin (BTC) rose 1.1% during the 90-minute debate. The price of Bitcoin (BTC) is currently hovering around $60,864.