Over 19,000 new SOL tokens were created last week.
'Jeo Boden,' a Solana memecoin parody of U.S. President Joe Biden, has surpassed $250 million in market cap with a gain of 54% within the past 24 hours as of March 25.
The memecoin is only available on the Solana decentralized exchange Raydium and is not yet listed on any centralized platforms."Boden the 46th pres of soluna. his jeb is te mäk three hundred trillion million billion dollars," developers wrote on its official website after the token's March 9 launch."This wallet belongs to the Jeo Boden treasury and community alike.
"$BODEN has no association with Joe Biden. This token is simply a meme coin with no intrinsic value or expectation of financial return."from 27 presales this year alone."MEME tokens have a knack for capturing attention rapidly through their widespread viral sharing on social media platforms," commented Singaporean crypto education firm Gryphsis Academy.
Gryphsis further explained that a sense of scarcity and emphasis on timeliness have led memecoins to develop"heightened urgency" among investors.
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