A trader who invested $8 million in the Jeo Boden (BODEN) memecoin linked to US President Joe Biden has lost almost all of his funds.
One of the X (former Twitter) users noticed on a failed deal by a cryptocurrency trader who lost $7.9 million in a matter of minutes.
What have you done, Joe Biden?
An anonymous trader invested $8 million in BODEN at the coin’s peak capitalization of $600 million. The memecoin reached this mark in mid-April this year. However, hopes for a bright future for the political token did not come true – against the backdrop of the latest news, its value fell sharply.
As a result, the user lost $7.9 million of his investment. At the time of writing, his previous $8 million is worth $98.5 thousand. According to CoinGeckoBODEN is currently trading at $0.009384, down almost 60% in the last 24 hours and more than 90% in the last month.
This case is not the only one. According to data Polymarketanother trader nicknamed AnonBidenBull lost $2 million when Biden dropped out of the presidential race. The user bet on the politician’s victory, but after the latter’s statement, the cryptocurrency’s positions fell by 99%.
AnonBidenBull’s losses on Polymarket. Source: X/Polymarket
Biden drops out of presidential race
On July 21, 2024, the current US President Joe Biden announced that he was withdrawing his candidacy from the 2024 presidential election. In the wake of this event, many tokens in the PolitiFi sector experienced significant fluctuations.
Vice President Kamala Harris could become the new Democratic Party candidate. Biden, the Clintons, and the governor of California have already endorsed her candidacy.
New cover of Time. Source: X/Time
Harris’s chances in the presidential race are now on Polymarket evaluate in 83%. Meanwhile, in her victory believe only 29% of voters voted, while Trump won with 64%.
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Source: Cryptocurrency
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