Big Meme Coin Volatility After Donald Trump’s Conviction in Hush Money Case: Details
TL;DR
- Donald Trump was found guilty on 34 charges of falsifying business records in the hush-money case involving porn star Stormy Daniels.
- His conviction was followed by a surge in meme coins linked to him and joe Biden.
Manhattan jury to create Donald Trump guilty on all 34 charges of falsifying business records Thursday (May 30). Thus, he became the first former president of America being convict for a crime.
The case was a hush-hush trial involving Trump and pornographic film actress Stormy Daniels. She previously claimed she had sex with the billionaire before He accepted $130,000 from his former lawyer Michael Cohen in exchange for his silence during the 2016 elections. Trump denied the accusations.
The American attacked Judge Merchan, who presided over the case, and called the decision a “disgrace”. The sentence is planned to be postponed on July 11 It is possible for Trump to confront time behind bars. But legal experts believe a fine is a more likely outcome.
Some meme coins related to the former president and the current presidential candidate of the Republican party experienced increased volatility following the court decision. MAGA (TRUMP) fell from $13.50 to $11.20 minutes after the judge’s decision. It then rose 50% to an all-time high of $16.80 before falling again. It is currently trading at around $13.90 (according to CoinGecko data).
TRUMP Price, Source: CoinGecko
donald shake (TREMP) also had its ups and downs. Its value first dropped 5% and then rose 18% to $1.38. as of nowAround $1.18 (up 6% on a daily scale).
Interestingly, a meme coin linked to Trump’s Mother The opponent of America’s next president, Joe Biden, also witnessed major swings. The price of Jeo Boden (BODEN) dropped by 15% on a daily basis.
BODEN Price, Source: CoinGecko
Is Trump the Crypto Choice?
Despite her Anti-crypto stance from years agoTrump has recently presented himself as a supporter of the asset class. He started to soften his voice earlier in 2024 saying Can “live” on Bitcoin (BTC).
American a few weeks ago explained He sees himself as the right choice for cryptocurrency industry supporters, adding that his rival Joe Biden and his cabinet are against it:
Trump went further: promising Allowing BTC and cryptocurrency to develop in the United States in case he becomes the 47th president of America. He also said request Never allow the creation of a central bank digital currency (CBDC).
The presidential race is expected to be quite competitive. Some recent surveys clarified Trump may have the upper hand as he leads at five outside It consists of six oscillation states.
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