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    Vikshita Vitthal Gujaran in Crypto News

    07 Mar 12:00 PM


    Traders are now gambling on ‘poorly drawn’ celebrity memecoins

    One memecoin investor says an initial investment of $260 ballooned into $423000 in just three days by purchasing a token called Jeo Boden, a humorous depiction of U.S.President Joe Biden.
    Memecoin traders are flocking to a new fad in degen tomfoolery—a breed of Solana-based tokens based on“poorly drawn”celebrities and political figures.

    Newly-listed memecoins such as “Jeo Boden” and “Danold Tromp”—with intentionally janky art to match—have gained 174900% and 59900%, respectively,after their launch.One trader even claims to have made some serious returns on these tokens despite the coins themselves having no public founder,no roadmap and offering nothing in the way of utility.

    In a March 6 X post, a pseudonymous crypto investor called “Barkery” claims to have turned an initial sum of just $260 into $42,000 in two days by purchasing 11.73 million tokens of “Jeo Boden” sporting the ticker “BODEN”—themed a poorly drawn version of United States president Joe Biden.