A satirical cryptocurrency token tied to Joe Biden experienced a sharp decline on Friday following the incumbent president’s debate with Donald Trump in their first presidential debate of the election cycle on Thursday.
Post-debate, the Jeo Boden (BODEN) coin saw a significant 32% drop, trading at approximately $0.08, according to CoinGecko data.
Biden’s performance during the debate could be characterized as lackluster at best. He appeared fatigued, delivering facts hastily with disjointed speech and occasional lapses in coherence. Despite attempting to make strong arguments, his delivery was marred by moments of unclear communication, possibly exacerbated by a cold he seemed to be battling.
Biden’s Debate Challenge Backfires, Boden and TREMP Tokens See Decline
Biden’s subdued performance in the debate failed to meet expectations, a strategic mistake considering he had challenged former President Trump to the debate.
One user on X commented on Boden’s price drop, finding it amusing that the market reaction assumed the coin was pro-Biden. In reality, the token is community-driven, satirizing Biden and his meme-worthy moments, especially related to the 2024 presidential election.
Previously, Trump had mocked the Boden token upon discovering its market cap had reached $240 million. “That’s a lot of money for a coin, I don’t like that investment,” he remarked.
In a parallel move, a Donald Trump-inspired meme coin (TREMP) also fell by 13.7% on Friday, trading around $0.60.
Voter Concerns Persist as Biden Stumbles in Debate on Key Issues
Voters frequently voice concerns about Biden’s age and fitness for office. Reports indicate that this debate did little to ease those worries.
When questioned about the conflict in Gaza, Biden faltered, stating, “We are the largest supporter of Israel of anyone in the world.”
In response to a query about the national debt, Biden inexplicably concluded, “We finally beat Medicare.”
Trump Leverages Biden’s Weak Performance
Meanwhile, Trump capitalized on Biden’s lackluster performance, maintaining composure and focus while subtly criticizing the president. However, he seemed to sidestep difficult questions.
Although both are frontrunners for their parties’ nominations, neither has been officially selected yet.
Biden did regain momentum as the evening wore on, but it might not suffice to reverse the initial negative perception of his debate performance. This could spark internal discussions among Democrats about his candidacy.
