'Biden is Dead' meme coins are spreading all over the internet… and its quite crazy. The idea for these tokens came from a Twitter account that spread speculation regarding President Joe Biden's health after he was diagnosed with COVID-19.

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But what does this sudden rise in scary meme coins really mean? Is it because people are really worried about politics, enjoy a dark sense of humour, or just want to make quick money? 

Let's break down the key points of this unusual trend:

  • Multiple 'Biden is Dead' meme coins have emerged in less than 24 hours
  • These coins have reached combined market caps in the millions of dollars
  • The trend started with a single, unverified tweet about Biden's health
  • Some tokens are even predicting specific dates for Biden's supposed demise
  • The phenomenon comes in the wake of Biden's withdrawal from the 2024 presidential race

The origin of this meme coin madness can be traced back to a single tweet from the account Global Press. The tweet said a certain “verified source” told them that President Biden was "unlikely to survive the night" after being diagnosed with COVID-19.

X (formerly Twitter) quickly added community notes to the tweet, citing a letter from the president's doctor saying that Biden's vital signs were fine. The Associated Press also reported that Biden's COVID-19 symptoms had "almost resolved completely."

The Global Press account is now deleted. But not before our dear degen brothers picked it up.

Within hours of the rumor's spread, meme coins started popping up like mushrooms after a rainstorm. The most prominent among these is Biden Dead (BIDEAD), which reached a market cap of $660,000 in a matter of hours. 

Not far behind is Biden Done (BIDONE), featuring a rather tasteless cartoon of the president's skeleton, which quickly amassed a market cap of $567,000.

The meme coin factory Pump.fun has become ground zero for these tokens. Of the top 10 tokens on the protocol with "Biden" in their name, seven reference the president's death. Ironically, an eighth celebrates him still being alive.

One particularly eyebrow-raising token is BidenDeadAugust15 (BIDEAD). Created two months ago, this coin remained dormant until late July when it suddenly spiked. 

The meme coin skyrocketed 615% the day Biden dropped out of the 2024 U.S. presidential race, then surged another 64% following the rumor.

However, as the Global Press tweet was debunked, the token fell 67%.

Not to be left out, the Solana blockchain has its own Biden-themed meme coin. Jeo Boden (BODEN), an intentionally misspelled version of the president's name, has seen a 148% increase over the past 24 hours. 

However, this spike still leaves the token 98% lower than its all-time high reached in April.

Now, you might be wondering, "Why are people making these coins in the first place?" Well, it seems to have started when Biden said he won't run for president again. This surprised a lot of people and got them talking.

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Some folks think Biden stepped down because of his health. Others think his party made him do it because they don't think he can beat Trump. There are even rumors that Biden didn't write his resignation letter himself. 

Anyway, I’m waiting for August 15th to see if the prediction comes true (spoiler alert: it probably won't).

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