The old saying “any publicity is good publicity” appears to hold true for memecoins. Even the flimsiest kind of publicity.
Jeo Boden {{BODEN}}, a joke crypto token named for a mispronunciation of U.S. President Joe Biden’s name, surged as much as 25% Wednesday after his Republican challenger, former president Donald Trump, responded to a reporter’s question about it.
“I don’t like that investment,” Trump said at an impromptu press conference at his Mar-a-Lago resort in Palm Beach, Florida, after a reporter described BODEN to him and said it had a $240 million market capitalization.
After peaking at $0.42, BODEN fluctuated and at press time was trading at $0.40, still up about 15% from when Trump made his comment (such as it was).
The real estate mogul, reality TV star and populist firebrand was hosting the Trump Cards NFT Gala for holders of the digital collectibles that bear his name. A few hundred people were in attendance.
Trump’s presidential campaign is not currently accepting donations in cryptocurrency, but he said at the press conference he intends to.
When asked “can we donate using crypto?” the almost-certain GOP nominee responded, “If you can’t, I’ll make sure you can.”
Danny Nelson contributed reporting.