BODEN Price Drops 57.8% After Biden Withdraws from the 2024 US Election

Bittime - As the 2024 US Election approaches, trends PolitFi makes the price of political tokens rise. However, the BODEN token related to Joe Biden fell drastically after he officially withdrew from the 2024 US Election.  

BODEN Token Price Drops Drastically

Data from Coingecko shows the token PolitFi Jeo Boden (BODEN) experienced a sharp decline of 57.3% in the last 24 hours. 

BODEN price currently stands at $0.009654 (around Rp156.61), down from the previous price which was in the range of $0.02544 (around Rp. 4,126.88).  

Causes of BODEN Price Decline

This drastic price drop is believed to have been triggered by Joe Biden's announcement that he would not seek re-election in the 2024 presidential election. 

This news surprised many parties and created uncertainty in the market, which ultimately had a negative impact on BODEN prices. Political news and rumors will be a determining factor in market fluctuations of PolitFi. Joe Biden's resignation announcement is an example.

MAGA (TRUMP) Token Actually Rises

Source: Bittime.com

SWhile the price of BODEN fell, the MAGA (TRUMP) token associated with Donald Trump actually increased, although not significantly.

Based on today's Bittime market, the TRUMP price increased by 3.33 percent in 24 hours. When this article was written, TRUMP was trading at the price Rp135,501. 

BODEN Token Technical Analysis

If you look at the BODEN price chart, it is clear that a sharp decline occurred in a short period of time. BODEN's daily trading volume reached $11,316,537, indicating high liquidity despite the drastic price decline. 

With a circulating supply of 690,325,163 tokens, BODEN has a total supply large enough to stabilize prices in the long term. However, PolitFi's volatility is quite high, as is the case with meme coins. Trends PolitFi is also relatively new and perhaps only seasonal, namely during general elections.

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You can buy and sell crypto assets in an easy and safe way through Bittime. over is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

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