Donald Trump expresses his opinion on meme coin “Joe Borden”, TREMP rises 160% in 24 hours
In March, two meme coins on the Solana chain were launched, mocking presidential candidates for the upcoming election. The token, which features a crude image of the candidate, has exploded in popularity since its release. The Joe Biden-themed token is called Joe Borden (BODEN), and the Trump-themed token is called Dorland Tremp (TREMP).
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The token gained hundreds of thousands of percentage points, rising from just 1 cent to nearly $1. Those gains were further boosted by former President Donald Trump's direct endorsement of meme coins.
President Trump met with supporters at an NFT event at Mar-a-Lago, and those who purchased 47 or more NFTs, each priced at $99, were able to meet the former president in person. One supporter asked President Trump about Borden, saying, “A token was issued to make fun of Joe Bidem, and it's worth $240 million. I don't know if you know that.” Told.
In response, President Trump said, “That's a lot of money for one coin. I don't like that investment.”
Immediately after the audio was played, the prices of both tokens became even more volatile. Posted in X. Borden's price rose from $0.35 to nearly $0.45 within an hour. However, the price has since fallen to around $0.35.
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Meanwhile, TREMP price has increased significantly since posting. Just before this post, TREMP was trading below $0.30, but quickly rose over 100%, rising to $0.61 in less than an hour. The price continued to rise overnight, reaching a high of $0.91. This resulted in a total increase of over 200% within 7 hours.
This inevitably led many investors to take profits and the price of TREMP returned to around $0.75. However, it is still up more than 170% in the past 24 hours. However, TREMP's market capitalization is still lower than BODEN. TREMP is worth about $70 million, while BODEN is still worth $240 million.
One user commented on the post, saying, “Is this real?'' To which the official WallStreetBets account responded, “Is life real?'' This post received over 550,000 total views within his 24 hours.
Additionally, some believe that the wording of the question made it appear as if each token was worth $240 million, rather than the project as a whole. If Trump interpreted the question that way, it may have influenced his answer. In any case, this comment brought a lot of attention to the token.
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President Trump's comments were quite surprising and not what many expected. These projects are mostly popular with people within the cryptocurrency community and don't make much noise outside of it. However, Trump's comments could garner more attention from non-crypto people.
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The article Donald Trump speaks out on 'Joe Borden' meme coin, TREMP rises 160% in 24 hours originally appeared on Benzinga.com
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