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Meme Coins Inspired by US Presidents Surge on Solana Blockchain
Meme coins inspired by United States President Joe Biden and former President Donald Trump are experiencing significant growth on the Solana blockchain, according to data from DexScreener.
The Trump-inspired Doland Tremp (TREMP) meme coin and the Biden-inspired Jeo Boden (BODEN) are currently competing in terms of Solana trading activity, with a focus on the Raydium decentralized exchange (DEX).
Market Cap and Performance
At present, BODEN boasts a larger market capitalization and 24-hour gains, reaching nearly $473 million with a price surge of 60% to almost $0.69. On the other hand, TREMP is currently priced at $0.83, with a market cap of approximately $83 million and a 54% increase in value today.
TREMP has observed a trading volume of about $10 million in the past day, while BODEN has outperformed with a trading volume of $30 million during the same period. Despite BODEN’s lead in the meme coin competition, supporters of TREMP remain steadfast.
About Meme Coins and Their Appeal
Meme coins are a unique category of cryptocurrencies that draw inspiration from internet jokes, memes, and public figures. Unlike more established cryptocurrencies like Ethereum and Bitcoin, meme coins derive their value primarily from their association with cultural trends and personalities. These coins are known for their high volatility, often experiencing rapid fluctuations in value following their launch.
Recently, meme coins have gained popularity within the Solana ecosystem due to the network’s speed and low transaction costs. In the last 24 hours alone, Solana-based meme coins have generated a trading volume of $1.8 billion. The collective market capitalization of Solana meme coins stands at an impressive $8.15 billion, as reported by CoinGecko.
It is worth noting that the rise of meme coins is accompanied by inherent risks, and investors should exercise caution and conduct thorough research before engaging in meme coin trading.
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