What Happened To BODEN’s Bullish Momentum?

13 May, 2024 Updated 21 Jun, 2025

By David Pokima

Crypto Journalist

Expertise : Finance/Crypto Journalist

David is a finance news contributor with 4 years of experience in Blockchain Technology and Cryptocurrencies. He is interested in learning about emerging technologies and has an eye for breaking news. Staying updated with trends, David reported in several niches including regulation, partnerships, crypto assets, stocks, NFTs, etc. Away from the financial markets, David goes cycling and horse riding.

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Jeo Boden (BODEN), the memecoin modeled after the United States President, is far off previous highs this year. Memecoins are trading sideways with short-term corrections recorded by most tokens amid the wider crypto slowdown. While the general memecoin plunge has affected the token, other factors have led to a general low sentiment.

At press time, BODEN trades at $0.3064, a 5% drop in the last 24 hours. The asset is also down 30% this week and at a larger 52% decline this month. These sharp outflows have lowered bullish pressure from an asset considered to rally as the U.S. Presidential Election nears.

BODEN: Has Bullish Uptick Faded?

BODEN once outpaced the markets with 100X gains on the back of the memecoin frenzy and renewed institutional inflow in the market. To put gains into perspective, the asset’s price hit an all-time high of $1.04 on April 8. Present prices show a massive 70% drop trading significantly lower.

Trading volumes on the asset are at $7 million, a 17% daily growth as crypto prices attempt a breakout from current positions. Last month, BODEN saw 97% weekly gains against several altcoins ranking the asset amongst the highest gainers. At those highs, trading volumes were up to 97 million as it saw a 2000% jump from its launch.

Reasons for the plunge of BODEN include macroeconomic factors, a general decline in memecoin, and renewed bottleneck regulations of the Securities and Exchange Commission (SEC). With a Gary Gensler-led SEC referring to crypto assets as securities, investors remain skeptical of most coins.

Can The Asset Rebound?

Market bulls believe that BODEN can pick up the pace should on-chain and macroeconomic factors flip green. A key reason for this is the over 1,100% jump in price from the all-time low recorded two months ago.

Bulls also flag potential rate cuts by the Federal Reserve as a bullish indicator as more funds will flow towards risky assets. Most institutional investors expect a rate cut by September although the Feds continue to leave rates unchanged.

Also Read: 3 New Meme Coins To Buy This Monday

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.