After former US President Donald Trump was convicted of 34 felonies in the "hush money" case, the price of Trump-themed memes fell sharply. MAGA (code TRUMP), the largest Trump-themed meme coin by market capitalization, plummeted to $11.27 from $15 before the judgment, a drop 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% respectively.
Meanwhile, shares of Trump Media and Technology Group (DJT) fell 9% in after-hours trading on Nasdaq. The price of Jeo Boden (code BODEN), a meme coin related to President Joe Biden, who competes with Trump, rose 12% in an hour. The market is volatile, please control your risk.
After the verdict, which marked the first time in US history that a president had been convicted of a felony, Mr. Trump denied all charges, calling the trial "rigged".
Trump-themed Meme Coin Falls, TRUMP Drops Nearly 25%
2024-05-30 22:59:32
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