Meme coins inspired by United States President Joe Biden and former President Donald Trump are surging on the Solana blockchain, according to blockchain data from DexScreener.
The Trump-inspired Doland Tremp (TREMP) meme coin is going head-to-head with the Biden-inspired Jeo Boden (BODEN) in terms of Solana trading, with most of the action taking place on the Raydium decentralized exchange (DEX).
BODEN has the larger market cap and 24-hour gains, with a cap of nearly $473 million as of this writing, with the price up 60% today to nearly $0.69. TREMP, meanwhile, is trading at a price of $0.83, but has fewer coins in circulation for a market cap of about $83 million. The Trump-themed coin is up about 54% today.
TREMP has seen about $10 million in trading volume over the past day, while BODEN is well ahead with $30 million worth during that span. While Jeo Boden is beating Doland Tremp in the meme coin race as of now, the Tremp faithful remain defiant.
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aped $TREMP on day one immediately recognized it as the genuine meta-setter it became and been riding with the community ever since.. I tweeted - below - the name "doland $tremp " goes viral in 2024 we're not even close to that yet just wait for billions and billions 🇺🇸 https://t.co/RIxllAVVQLpic.twitter.com/fFUgRDMrK7
As their name suggests, meme coins are cryptocurrencies inspired by internet jokes and memes, along with public figures and more. Unlike cryptocurrencies like Ethereum and Bitcoin, meme coins mainly get their value from being linked to events or people in popular culture. They also tend to be highly volatile, and many rapidly lose value after they’re launched.
Meme coins have taken off in popularity on the Solana blockchain lately thanks to the speed and low transaction cost, with $1.8 billion in trading volume in the last 24 hours. Solana-based meme coins have a combined market capitalization of $8.15 billion, according to CoinGecko.
