Donald Trump’s conviction seems to not affect meme coin traders, despite his guilty verdict, Trump inspired MEGA token reached a new all-time on the very same day.
Though moments after the judge’s decision, MAGA (TRUMP) dropped from $13.50 to $11.20. A 50% surge subsequently saw it hit an all-time high of $16.80 before collapsing once more. At the time of writing, it was valued at $15.28, as per the CoinMarketCap data.
Apart from the MAGA token, the volatility of some meme currencies associated with Donald Trump, the previous president and the Republican party’s current presidential contender, increased following the court’s ruling.
Donald Tremp (TREMP) had highs and lows, as well as its value dropped by 5% initially, then increased by 18% to $1.38. It is currently valued at approximately $1.14. On the other hand, a meme coin tied to Joe Biden, Trump’s opponent, saw significant volatility. Jeo Boden (BODEN) plunged 15% in a day.
On Thursday, May 30, a Manhattan jury found Donald Trump guilty of all 34 counts of falsifying company records. So, he became the first American former president to be found guilty of a crime.
The lawsuit involved Trump and Stormy Daniels, a porn star, over hush money. She claimed to have had an affair with him before the 2016 election, receiving $130,000 from his former attorney, Michael Cohen, for silence. Trump denied the allegations.
The American criticized the case’s judge, Merchan, labeling the decision a “disgrace.” Trump may spend some time in jail after the July 11 sentencing date. Legal professionals, however, think that a fine is more likely to occur.
Also Read: Trump Convicted: Can Crypto Bail Him Out?
