Jeo Boden's Price Plummets as Polymarket Betting Suggests Biden Exit and Analysts Name it a Top ICO for Play-to-Earn Gaming

The Jeo Boden price dropped 22% to $0.0337, linked to increased bets on President Biden dropping out of the race. This fall could continue if support at $0.0337 is breached. Technical indicators suggest a bearish short-term outlook, with a negative MACD cycle, a bearish MACD line, and dominant seller activity, as indicated by an RSI below 50.

The Jeo Boden token, a meme cryptocurrency inspired by U.S. President Joe Biden, experienced a significant drop in value, shedding 22% to reach $0.0337. This decline in Jeo Boden's price can be attributed to increased speculation that President Biden might not run for re-election in 2024 (1).

The odds of President Biden dropping out of the upcoming presidential election have been on the rise, surpassing 39% on the decentralized prediction market platform Polymarket (1). This surge in betting activity follows the presidential debate between Biden and former President Donald Trump, during which concerns regarding the current U.S. leader's eligibility for another term intensified (1).

Technical indicators suggest a bearish short-term outlook for Jeo Boden, with a negative MACD cycle, a bearish MACD line, and dominant seller activity (2). This is in line with broader market sentiment, as the RSI for Jeo Boden is currently below 50 (2).

It is essential to note that while these factors might influence the price of Jeo Boden and other politics-themed cryptocurrencies, they do not guarantee future outcomes. The next U.S. presidential election is scheduled to take place on November 5, 2024 (1).

References:

1. The Block. (2023, November 08). Polymarket bets: 39 chance that Biden drops out of 2024 election. https://www.theblock.co/post/302475/polymarket-bets-39-chance-that-biden-drops-out-of-2024-election
2. ABC 3340. (2023, November 10). Odds of Biden dropping out exceeded 80 after NYT report. https://www.abc3340.com/news/nation-world/odds-of-biden-dropping-out-exceeded-80-after-nyt-report-data-shows-polymarket-president-joe-biden-new-york-times-politics-2024-election-donald-trump-kamala-harris-white-house-debate

View Source