The meme token named after current US President Joe Biden has experienced a sharp 60% decline in value following Biden's announcement to end his presidential campaign.
According to Report, which cites data from trading platforms, the Jeo Boden token, which satirically portrays Biden and is often used to mock the US president, plummeted in price. The project's official website clarifies that the token is not associated with Biden and holds no intrinsic value.
CoinMarketCap data reveals that Jeo Boden fell by 59.69% to $0.8299. The significant drop in value coincides with Biden's Sunday statement, where he declared his intention not to seek re-election for a second term. Instead, he endorsed the candidacy of Vice President Kamala Harris.