Following the conviction of former U.S. President Donald Trump, the prices of various meme coins named after him have plummeted heavily.
Court Convicts Trump of Falsifying Business Records
For context, the pro-crypto presidential candidate of the Republican Party made history by being the first former or serving U.S. president to be found guilty of a crime in his hush-money case.
Sky News reported today that a jury in New York declared Trump guilty of all 34 counts of falsifying business records. Based on the conviction, Trump is awaiting sentencing, which is scheduled for July 11.
Legal experts speculated that the sentencing could include a massive fine or prison time. Meanwhile, some experts asserted that Trump’s conviction could affect his political ambition adversely.
Trump Meme Coins Plunge Heavily
In the meantime, the conviction has dealt a heavy blow to most meme coins named after him. The Crypto Basic compiled a list of meme coins named after Trump that have plummeted heavily following this event.
The Trump-themed meme coin with the most significant loss in the daily chart is Boost Trump Campaign (BTC). Data from CoinMarketCap shows that BTC has plummeted 61.24% over the past 24 hours to $0.000001256. At press time, 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 incur significant losses. The price of Baby Trump has plunged 44.1% in the daily charts. At the current price of $0.01333, Baby Trump has plummeted 43.7% from its ATH of $0.0254.
The third meme coin on the list is Trump Inu (TRUMP INU). At press time, the Trump-themed meme coin os down 38.28% over the past 24 hours to $0.000009453. Trump Inu, which surged to an all-time high of $0.000102 in March 2024, has dropped 91.36% from this peak.
According to our findings, the fourth Trump-themed meme coin with the most losses in the past 24 hours is Super Trump (STRUMP). STRUMP, which soared to an all-time high of $0.02298 this week, has plunged 23% in the daily charts with a unit trading at $0.01206. The current price indicates that STRUMP has dipped 46.7% from its ATH.
More Trump-Themed Assets With Huge Losses
Melania Trump (MELANIA), a meme coin named after the former president’s wife, also witnessed significant losses following his conviction. Data from CoinMarketCap shows that the meme coin was trading at $0.0768, down 21.58% in the 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 its peak price of $0.00000001166, registered on January 25, 2024.
Other Trump-Themed Meme Coins Soar
While most Trump-themed meme coins have incurred significant losses, some meme-based tokens named after the former president have witnessed substantial gains following his conviction.
In particular, Free Trump ($TRUMP), which launched in January, has soared 534.7% over the past 24 hours to $0.02115. Nonetheless, the token is currently down 75.6% from its peak price of $0.07546, registered earlier today.
Similarly, popular Trump-themed meme coin MAGA (TRUMP) has also recorded a daily rise of 5.3% over the past 24 hours, changing hands at $13.69. MAGA, which hit a new ATH of $17.23 earlier today, has dipped 20.99% from the peak price in the hours leading up to press time.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
