Memecoins were among the biggest losers in the market as cryptocurrencies recorded huge outflows within the week. However, a slew of assets stood out with massive gains in the last seven days as sentiments ran through investors. Jeo Boden (BODEN), a memecoin inspired by the United States President Joe Biden is recording surging inflows with
The post BODEN Maintains Uptick as Memecoins Frazzle appeared first on CoinGape.
Memecoins were among the biggest losers in the market as cryptocurrencies recorded huge outflows within the week. However, a slew of assets stood out with massive gains in the last seven days as sentiments ran through investors.
Jeo Boden (BODEN), a memecoin inspired by the United States President Joe Biden is recording surging inflows with its community projecting more highs. BODEN is up 18% in the last 24 hours and a massive 97.2% this week. This week’s inflows surge gains in the previous 14 days to 243.9%.
BODEN’s impressive performance in recent weeks shows in its increasing daily volumes. The memecoin posted a $91 million 24-hour volume, a 55% jump to kick off the weekend. This comes amid gradual outflows seen throughout the meme market.
The Solana memecoin has risen over 2000% since its launch as it breaches new all-time highs.
Memecoins Enter Weekly Lows
BODEN soared amid sell-offs in the memecoin market heightened by reduced investor confidence and the bearish outlook of cryptocurrencies. Memecoin is down 6.4% today to a $7.3 billion market capitalization while the wider market is up 2% in the last 24 hours.
Assets like dogwifhat and BONK are up 1% and 5% respectively today but down 27.1% and 17% this week as Solana memecoin plunges. BOME also posted a 5% decline this week. MEW and MYRO extends the losing charts to 27.9 and 23.4% in the last seven days.
Popular asset SLERF which scored huge gains in the Solana memecoin frenzy traded in the opposite direction of BODEN. SLERF has lost 44.6% in the same period. Memecoin leaders Dogecoin and Shiba Inu are down 12% and 10% this week
Can BODEN Sustain?
BODEN’s growth comes with its community rallying around the asset with bullish predictions. A key point is the upcoming US presidential elections which the community uses as a driver for the asset.
While the asset continues its upward charge, it should be noted that falling memecoin prices might trickle into the asset.
Also Read: Top Crypto Losers of The Week
The post BODEN Maintains Uptick as Memecoins Frazzle appeared first on CoinGape.
