TRUMP Token Plummets Following Conviction of Former U.S. President in New York
The TRUMP meme coin faced a significant blow after Donald Trump was found guilty by a jury in New York. In response to the verdict, the token experienced a sharp decline of up to 35%. On the contrary, Jeo Boden—a meme coin inspired by President Joe Biden—saw a surge of 20%.
Trump’s conviction on all 34 counts, which included accusations of falsifying business records, marks a historic event as he becomes the first U.S. president to be convicted of a felony. However, despite this setback, traders on Polymarket, a blockchain-powered prediction market, still anticipate Trump’s victory over Biden in the upcoming November election. Trump remains the frontrunner with 56% odds of winning, compared to Biden’s 38%, even in light of the recent verdict.