The Boden (BODEN) cryptocurrency, a satirical token based on Joe Biden, experienced a sharp decline on Friday following the president’s lackluster performance in the first presidential debate of the 2024 election cycle against Donald Trump.
According to CoinGecko data, the Jeo Boden coin plummeted over 32% to trade around $0.08 immediately after the debate.
President Biden appeared visibly fatigued during the debate, struggling with rushed delivery, fragmented speech, and occasional incoherence, possibly exacerbated by a cold. His performance, marked by missed opportunities and faltering delivery, failed to meet expectations, particularly considering his own challenge to former President Trump for the debate.
Reacting to the decline in Boden’s price, one X user noted the irony of investors selling the token based on Biden’s debate performance, despite its origins as a community-driven meme mocking the president.
In a related move, a Donald Trump-inspired meme coin (TREMP) also experienced a decline, dropping by 13.7% to trade at approximately $0.60.
The debate highlighted ongoing concerns among voters about Biden’s age and ability to effectively lead. His responses, notably a stumbling remark on U.S. support for Israel and a disjointed comment on Medicare during a discussion on national debt, may further fuel doubts about his candidacy.
In contrast, Trump leveraged Biden’s weak showing to present himself as composed and focused, though he too faced criticism for avoiding certain challenging questions.
While both Biden and Trump are frontrunners for their parties’ nominations, the debate’s outcome may prompt internal discussions within the Democratic Party regarding Biden’s candidacy moving forward.
