The power of publicity, even in its most unexpected forms, seems evident in the world of memecoins. Jeo Boden (BODEN), a humorous cryptocurrency inspired by a misspelling of U.S. President Joe Biden's name, experienced a significant surge, climbing up to 25% on Wednesday. This surge followed remarks made by former President Donald Trump in response to a query from a supporter about the token.
During the Trump Cards NFT Gala held at his Mar-a-Lago resort in Palm Beach, Florida, attended by several hundred people, Trump expressed his views during an impromptu Q&A session. When briefed about BODEN and its reported $240 million market capitalization, Trump remarked, "I don't like that investment."
Following Trump's comment, BODEN reached a peak of $0.42 before stabilizing. At the time of Trump's remark, it was trading around $0.40, still showing a gain of approximately 15%.
Regarding cryptocurrency donations to his presidential campaign, Trump stated that while his campaign does not currently accept such contributions, he intends to enable them in the future. In response to an inquiry about donating with crypto, Trump assured, "If you can't, I'll make sure you can."
On Polymarket, a cryptocurrency-based prediction market platform, trading activity remained unchanged on Wednesday for the contract titled "Will Trump mention $boden before July?" The contract defines a "mention" as either a verbal or written reference to the cryptocurrency by Trump through social media or other official channels. Despite Trump's remark, the contract's "yes" shares, which will pay out $1 if he mentions "Boden" by July 1, saw minimal movement, indicating a 5% chance according to traders.