The Jeo Boden (BODEN) price is attempting to recover amid growing chatter that Solana meme coin whales have been accumulating the token in wake of its recent dip.
Jeo Boden the purposefully misspelled meme coin based on US President Joe Biden and was last trading around $0.59.
BODEN fell to $0.42 earlier in the day, taking its losses from recent highs to 60% at the time.
But its recovery from session lows has narrowed its losses from recent highs at $1.06 to under 50%.
Social media chatter about whales stepping in to buy the dip could have helped propel the rebound.
As per on-chain analytics X account @lookonchain, a Solana whale scoped up nearly $300,000 in BODEN. The transaction in question can be seen here.
What did whales buy on #Solana after the market dropped?
We noticed whales bought $SLERF, $BOME and $boden!
4eocFb withdrew 31,916 $SOL($4.56M) from #Kucoin and spent 2,055 $SOL($294K) to buy 500,979 $boden at $0.59.https://t.co/VCPbMHhcHV
9CjKf5 withdrew 15,751 $SOL($2.25M)… pic.twitter.com/xckZB44CWo
— Lookonchain (@lookonchain) April 14, 2024
As per DEXTools, BODEN’s market cap was last around $413 million, with $3.5 million in liquidity.
The token has accumulated an impressive 34,000 holders, with 24-hour trading volumes of around $7 million.
Jeo Boden Price Prediction – Can BODEN Hit $100?
Bulls will be hoping that the Jeo Boden price’s latest bounce confirms that its uptrend remains intact.
Of course, downside risks remain. The broader crypto market remains under pressure as traders weigh up recent negative developments on both the geopolitical and macro fronts.
Tensions between Iran and Israel remain heightened following the former’s attack over the weekend.
Meanwhile, US economic data continues to surprise to the upside, pushing back against Fed rate cut bets.
Fed Chair Jerome Powell sounded more hawkish today as a result, which didn’t come as a surprise to many.
But in meme coin markets, an asset like BODEN can pump at any time. And in wake of BODEN’s impressive price history, further gains can’t be ruled out. BODEN is up a staggering 53,000x versus its opening level on the 4th of March.
The meme coin could easily post a quick 2x recovery to return to its recent highs above $1.0.
And some think it could even 200x to hit $100 per token. That might be a slightly overly optimistic price bet.
BODEN at $100 would imply a market cap of nearly $70 billion. That’s way beyond even the top meme coins in the market right now.
Joe Biden could well be ousted from the White House this year. That suggests BODEN isn’t going to remain a meme coin favorite for ever.
That being said, anything is possible in crypto.
Exciting Alternative Solana Meme Coin to Consider – Slothana (SLOTH)
BODEN has good upside potential. But its already fairly bloated market cap suggests its upside prospects are probably limited to a maximum of 10x gains.
Many crypto traders are looking for riskier bets with much great upside potential.
An exciting new Solana meme coin called Slothana (SLOTH) could be just the ticket.
Still in its presale phase, Slothana has raised over $10 million. Unlike traditional presale campaigns, Slothana allows investors to directly send $SOL to the project’s wallet address in exchange for $SLOTH airdrops.
Hold onto your branches, Slothana faithful!
We’re gearing up to drop some major news: the official launch date is on the horizon!
Get ready to mark your calendars and set your alarms, because a countdown timer will soon grace our site. Let the hype for the Slothana…
— Slothana (@SlothanaCoin) April 14, 2024
The token raised over $10 million and showed strong investor interest shortly after its official launch. A key reason for this traction could be the project’s central figure (an office Sloth tired of its 9-5 job) that resonates with many investors.
The presale is only running for another 13 days, so interest investors need to move fast.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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