Trump Meme Coin Recovers After Plunge Following Guilty Verdict
Trump-linked meme coin MAGA (TRUMP) rebounds after a 16% drop post-guilty verdict, while Biden-linked Jeo Boden (BODEN) briefly rallies before falling. Trump's crypto support and prediction market odds suggest a heated lead-up to the November election.
The largest Trump-linked meme coin, MAGA (TRUMP), bounced back after a 16% drop when Trump was found guilty of falsifying business records. The token fell from $13.48 to $11.27 but quickly recovered to $14.70, just 1.5% below its 24-hour peak. Other Trump-related coins, Super Trump (STRUMP) and Baby Trump (BABYTRUMP), also dropped but did not recover as much.
Conversely, the Joe Biden-linked meme coin, Jeo Boden (BODEN), briefly surged 6.4% before dropping to $0.283, even lower than its pre-verdict price.
Crypto prediction market Polymarket still shows Trump with a 54% chance of defeating Biden in the upcoming election, despite the recent legal issues. Trump's case now moves to sentencing, overseen by Judge Juan Merchan. The verdict has intensified political divisions, with concerns about further polarization ahead of the November election.
Recently, Trump has made efforts to appeal to the crypto industry, pledging to support self-custody of cryptocurrencies and engaging with NFT enthusiasts.
What's Your Reaction?
