- Memecoin between TRUMP and BIDEN
- What will happen next with Trump's case?
Memecoin between TRUMP and BIDEN
The largest meme coin associated with US presidential candidate Donald Trump has recovered shortly after falling 16% when he was convicted on 34 charges related to falsifying business records.
The case involves Trump's hush payment to adult film star Stormy Daniels, and the case will continue to the sentencing phase.
Despite his conviction, Trump maintained his innocence and called the trial's outcome a "disgrace."
"This is a rigged trial by a conflicted and corrupt judge. This was done by the Biden administration to hurt a political opponent [...] The real trial will take place on November 5th by the people."
Trump said.
More than $130 million disappeared from the total market Capital of the Donald Trump-linked MAGA (TRUMP) Token within a short 20 minutes after the news was announced, from $13.48 to $11.27. According to data from Coingecko .
However, the Token 's price recovered quickly and is currently skyrocketing to break its ATH at $17.2 USD — and is currently hovering around $14.72 USD.
Super Trump (STRUMP) and Baby Trump (BABYTRUMP) also recorded similar drops before the news but did not recover as strongly as TRUMP.
Meanwhile, the Jeo Boden (BODEN) meme coin linked to Trump's political opponent, JOE Biden, rose 6.4% in the first 15 minutes before falling to $0.283, even lower than its pre-Trump price was convicted, according to CoinGecko .
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Cryptocurrency bettors using the Polymarket blockchain prediction market still predict Trump will defeat Biden in the upcoming election on November 5 — with a 54% win margin compared to Biden's 40%.
What will happen next with Trump's case?
Trump's case will now move to the sentencing phase, largely controlled by Judge Juan Merchan.
Merchan is likely to set deadlines for the parties to submit sentencing Mnemonics in which each side makes arguments in favor of its preferred sentence.
But Trump's conviction will easily add fuel to the fire of Chia according to US Attorney John Deaton, who expressed concern about the country's direction.
With that, Trump has stepped up his efforts to court the cryptocurrency industry in recent months.
He said he would support the right of the country's 50 million cryptocurrency owners to self-govern Bitcoin and other coins.
In April, he hosted a dinner with dozens of Non-Fungible Token enthusiasts who bought his Mugshot Non-Fungible Token , declared that he “will make Non-Fungible Token hot again” and promised to keep his businesses and innovators domestic industry if he is elected.
VIC Crypto compiled
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