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Boden loses to Trump in memecoin race: Here’s what happened

Boden loses to Trump in memecoin race: Here’s what happened
  • The presidential debate caused both Trump and Bowden’s prices to drop significantly.
  • Trump’s popularity has waned over the past few days.

The recent US presidential debate caused quite a stir online, as memes and jokes about the presidential candidates flooded social media platforms.

The Trump-Boden saga

Amid all this hype, interest in the PolitiFi memecoins TRUMP and BODEN, which are based on the presidential candidates, has skyrocketed in the past few days.

However, not all of the attention these icons have received has been positive. In the past 24 hours, the price of the BODEN token has fallen by 26%. Although this price drop was drastic, it was not surprising.

After June 31st, BODEN price started to rise sharply. During this period, BODEN price showed several lower lows and lower highs, indicating a bearish trend.

At the time of writing, BODEN was trading at $0.08186. BODEN’s RSI has declined significantly during this period, indicating that bullish interest in BODEN has waned.

Moreover, Chaikin’s fund flow to BODEN has also decreased which indicates that the funds flowing to BODEN have decreased materially.

Source: Trading View

But TRUMP stock hasn’t seen as much of a price drop as BODEN stock. In the last 24 hours, TRUMP stock has dropped 7%. While that drop was significant, it was small compared to BODEN’s recent price action.

However, just like BODEN’s price action, TRUMP also showed signs of a downtrend before its price dropped significantly. Along with this, the volume of social media around the coin also decreased, indicating that the popularity around TRUMP has waned.

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Furthermore, the weighted sentiment around the TRUMP token has also declined, meaning that negative comments about TRUMP outweighed positive comments at the time of publishing this report.

Source: Santiment

What then?

Although the TRUMP token wasn’t performing well on social media metrics, the presidential candidate on which the token is based was performing relatively well.

The latest numbers show that Donald Trump’s chances of winning the 2024 presidential election have risen to a new record high of 63%. Since the debates began, Trump’s odds of winning the election have increased by more than 10%.

The odds of President Biden winning a second term decreased from 48% to 37%.

Markets believe that Donald Trump will become the next president. This may positively impact the price movement of the TRUMP token in the future.

Source: X

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