Trump-themed meme coins fall, TRUMP drops nearly 25%
The price of Trump-themed meme coins has dropped significantly after former US President Donald Trump was convicted of 34 counts of serious crimes in the "hush money" case. MAGA (code TRUMP), the largest market value Trump-themed meme coin, plummeted from $15 before the verdict to $11.27, a decrease of nearly 25%. Other related currencies such as MAGA Hat (code MAGA), Super Trump (code STRUMP), and MAGA VP (code MVP) also fell by 16% to 22%.
Meanwhile, stocks of Trump media and technology group (DJT) fell 9% in after-hours trading on the Nasdaq. Jeo Boden (code BODEN), a meme coin related to current President Joe Biden who competes with Trump, rose 12% within an hour.
After the verdict, Trump denied all charges, claiming that the trial was "manipulated." This is the first time in US history that a president has been convicted of serious crimes.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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