With the rapid development of the Web3 industry, new concepts are emerging. One such concept is meme tokens, which have gained popularity in the crypto community due to their entertaining nature and references to pop culture.
Among them are assets that exploit political themes. Some experts believe they have the potential to surpass the growth and profitability of meme coins like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE).
Today, we offer a review of two such meme tokens: Jeo Boden (BODEN) and MAGA (TRUMP).
What is a Meme Token?
A meme coin is a token based on popular internet memes or characters, characterized by its humorous and entertaining nature. Their value is largely determined by social media, celebrity endorsements, and the thriving meme culture on the internet.
They operate like regular tokens, with most functioning on Ethereum or Solana using smart contracts. It is important to note that meme coins exhibit high volatility and are subject to sharp price changes over short periods. They usually have a very large or unlimited supply, which results in low value.
Despite this, meme tokens have become a significant part of the cryptocurrency market and have attracted a large following. Some consider these coins to be a breath of fresh air in the cryptocurrency industry, while others are convinced that they undermine public trust in blockchain technologies.
According to CoinMarketCap, there are over 2,000 meme tokens, but half of them are not actively traded and have essentially become worthless, with only about 70 coins having a market capitalization of over $1 million.
What is Jeo Boden (BODEN)?
Jeo Boden (BODEN) is a meme token created to reflect the essence of meme culture surrounding the current President of the United States, Joe Biden.
History of BODEN and the Project Team
The meme coin was launched on March 3, 2024. Like most meme tokens, the project team remains anonymous.
Following its launch, BODEN was listed on centralized exchanges such as LBank and CoinEx, which increased its liquidity and popularity among users. Shortly after, the price of BODEN surged by 830% within just six hours of trading, drawing the attention of investors and crypto enthusiasts.
The price of BODEN rose further after former U.S. President Donald Trump commented on the token during the Trump Cards NFT Gala. When asked about BODEN, Trump expressed his disinterest in investing, leading to a 20% increase in the token’s value.
How Does BODEN Work?
The token operates on the Solana blockchain, known for its high transaction speeds and low fees.
As a meme token, BODEN primarily serves as a digital asset managed by the community. Its value and popularity are largely driven by social media trends related to Joe Biden rather than intrinsic value, technological innovations, or practical utility.
Price Dynamics of BODEN
As of the time of writing, the price of BODEN is approximately $0.44, with a market capitalization of over $300 million.
Since CoinMarketCap began tracking the price 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 U.S. President Donald Trump, along with his slogan “Make America Great Again” (MAGA). The token’s value is tied to news, Trump’s election campaigns, and other stories from his personal life.
History of TRUMP and the Project Team
The token was launched in August 2023 by crypto enthusiasts Sean Fares and Stephen Steele, who serves as the project’s chief marketing officer.
Following its launch, the token was listed on exchanges such as LBank, CoinEx, XT, and others. MAGA (TRUMP) quickly rose in price and gained popularity among Trump supporters and the cryptocurrency community due to active promotion on social media, especially after Donald Trump publicly stated his support for cryptocurrencies.
How Does TRUMP Work?
The meme token operates on the Ethereum blockchain and utilizes the ERC-20 smart contract standard. The token later became available on the Solana, BNB Smart Chain (BEP20), and Base networks.
TRUMP stands out among other meme coins by implementing a charitable program that allocates a portion of the profits to organizations such as the National Support for Homeless Veterans and the Child Protection Fund.
Price Dynamics of TRUMP
The total supply of MAGA is 47 million tokens, which alludes to Trump’s potential second term in the White House as the 47th president of the country, should he win the upcoming presidential election. As of the time of writing, 46.5 million TRUMP tokens are in circulation out of the maximum supply.
Since CoinMarketCap began tracking the price until May 22, 2024, it has increased by 52,760%.
Comparison of BODEN and TRUMP
Here is a comparative table of these two meme tokens as of the time of writing:
| Feature | BODEN | TRUMP |
| Total Supply | 690.33 million BODEN | 46.5 million TRUMP |
| Circulating Supply | 690.33 million BODEN | 44 million TRUMP |
| Market Capitalization as of May 22, 2024 | $216.43 million | $386.29 million |
| Current Price as of May 22, 2024 | $0.31 | $8.78 |
| Main Purpose | Support for meme culture surrounding Joe Biden | Support for the political movement around Donald Trump |
| Charitable Program | No | Yes |
| Major Exchanges | LBank, CoinEx | LBank, CoinEx, XT, MEXC |
Conclusions
The tokens Jeo Boden (BODEN) and MAGA (TRUMP) are prominent examples of meme coins that have gained popularity due to their references to well-known political figures. They illustrate how social media and entertainment value can significantly impact the price of crypto assets, even when these assets lack practical value or technological innovation.
- BODEN represents the meme culture surrounding U.S. President Joe Biden and operates on the Solana blockchain. Its popularity has been fueled by events and comments linked to Biden, especially influential statements and social media support.
- TRUMP, on the other hand, focuses on the image and election campaigns of Donald Trump, engaging his supporters and leveraging his political movement.
While meme tokens often face criticism for their lack of tangible utility and high volatility, they remain an essential part of the crypto market, drawing attention and attracting new participants to the world of digital assets.