Memecoins
Donald Trump-themed meme coins decline as New York jury convicts him on all 34 charges
Following the conviction of former US President Donald Trump, the prices of various meme coins named after him have plummeted.
Court convicts Trump of falsifying corporate documents
For context, the pro-cryptocurrency The Republican Party presidential candidate made history by being the first former or sitting US president to be found guilty of a crime in his secret case.
News from heaven reported today that a New York jury found Trump guilty on all 34 counts of falsifying business records. Based on the conviction, Trump is awaiting sentencing, scheduled for July 11.
Legal experts have speculated that the sentence could include a huge fine or prison sentence. Meanwhile, some experts said Trump’s conviction could negatively affect his political ambitions.
Trump meme coins plummet
Meanwhile, the conviction dealt a severe blow to most of the meme coins bearing his name. The Crypto Basic has compiled a list of meme coins named after Trump that fell heavily following this event.
The Trump-themed meme coin with the most significant loss on the daily chart is Boost Trump Campaign (BTC). Data from CoinMarketCap shows that BTC has fallen 61.24% in the past 24 hours to $0.000001256. At the time of writing, BTC was down 87.69% from its all-time high (ATH) of $0.0000102.
Baby Trump (BSC) is the second Trump-themed meme coin to suffer significant losses. Baby Trump price plummeted 44.1% on daily charts. At the current price of $0.01333, Baby Trump has fallen 43.7% from its high of $0.0254.
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The third meme coin on the list is Trump Inu (TRUMP INU). As of this writing, the Trump-themed meme coin has fallen 38.28% over the past 24 hours to $0.000009453. Trump Inu, which reached an all-time high of $0.000102 in March 2024, has fallen 91.36% from this peak.
According to our findings, the fourth Trump-themed meme coin with the most losses in the last 24 hours is Super Trump (STRUMP). STRUMP, which rose to an all-time high of $0.02298 this week, fell 23% on daily charts with one unit trading at $0.01206. The current price indicates that STRUMP is down 46.7% from its all-time high.
More Trump-themed assets with huge losses
Melania Trump (MELANIA), a meme coin named after the former president’s wife, also suffered significant losses following her conviction. Data from CoinMarketCap shows that the meme coin traded at $0.0768, down 21.58% on daily charts and 55.97% from its ATH of $0.1786.
The sixth meme-based crypto asset that reacted negatively to Trump’s conviction is Donate Trump (TRUMP2024). At the current price of $0.000000004318, TRUMP2024 is down 6.59% over the past 24 hours and 62.55% from the high price of $0.00000001166, recorded on January 25, 2024.
More Trump-themed meme coins are flying
While most Trump-themed meme coins suffered significant losses, some meme-based tokens named after the former president saw substantial gains following his conviction.
In particular, Free Trump ($TRUMP), launched in January, has surged 534.7% in the last 24 hours to reach $0.02115. Nonetheless, the token is currently down 75.6% from its high price of $0.07546, recorded today.
Likewise, the popular Trump-themed meme coin MAGA (TRUMP) recorded a daily increase of 5.3% in the last 24 hours, changing hands at $13.69. MAGA, which hit a new record high of $17.23 today, was down 20.99% from its peak price in the hours before press.
Disclaimer: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinion of The Crypto Basic. Readers are encouraged to do thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.
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