Trump-inspired tokens rise more than 1,000% after guilty verdict in the US – DiarioBitcoin
By Hannah Perez
One of the tokens under the name “FreeTrump” has risen in price by more than 1,000% in the last 24 hours. “TRUMP2024” is also up a staggering 800%.
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- Meme tokens inspired by Donald Trump flood the cryptocurrency market
- Some cryptocurrencies that use Trump’s name have skyrocketed more than 1,000% in price
- A jury in New York found Trump guilty on charges of falsifying business records
Donald Trump’s guilty plea has not only affected the former president of the United States and left a mark on the nation’s history, but it would also be having an effect on the pockets of some opportunistic traders.
A bunch of tokens Digital products inspired by the Republican candidate have moved wildly in price after a jury in New York found Trump guilty of 34 counts of falsifying business records in a criminal scheme to influence the outcome of the 2016 presidential election.
The unprecedented first criminal trial against a current or former American president found resolution in a Manhattan courtroom Thursday night, in a development that could have major national consequences.
Despite pleading not guilty, a 12-person jury unanimously found Trump guilty of felony counts of falsifying business records to conceal a hush money payment from adult film star Stormy Daniels, who claimed to have had sexual relations with Trump. He denies the encounter.
The verdict in the historic case against Trump comes in the middle of the election campaign in the US, which practically boils down to the same two men who faced off in the 2020 election: Trump and current President Joe Biden. The resolution could weigh on voters and further contribute to the already polarized national climate.
The former president, for his part, condemned the justice system and rejected all types of responsibility, expressing his belief that the “final verdict” will be given in November with the presidential elections; an idea that his opponent also seems to share.
“This was a rigged and shameful trial. The real verdict will be on November 5, by the people, and they know what happened here and everyone knows what happened hereTrump said after the guilty announcement, as quoted cnn.
“I’m a very innocent man and it’s okay, I’m fighting for our country. I am fighting for our Constitution. Our entire country is being manipulated right now”he added. A ruling on the case will be handed down on June 11.
TRUMP tokens rise more than 1,000%
Amid political events, the cryptocurrency market saw one particular sector of memecoins stir. In particular, the tokens inspired by political figures saw oscillating movements, which now seem to lean in favor of Trump.
The data from CoinMarketCap show that more than twenty cryptocurrencies with the name “TRUMP” have risen in price in the last 24 hours, with some recording meteoric price increases of more than 1,000% in that period.
A particularly notable case is that of “FreeTrump” which has skyrocketed by more than 1,300% at the time of publication of this article. Another digital currency under the name “TRUMP2024” has also risen a staggering 800% since this time yesterday, according to the same data source, while another token titled “Trump vs Biden” increased by 1,100%.
A simple search on that cryptocurrency tracker shows that there are at least a hundred Trump-inspired tokens out there, many of which have no trading or price data (possibly because they are so new or little known). Among those that have a price, the majority register a notable price variation in the last few hours.
Yesterday, just after the news of guilt, memecoin TRUMP sank up to 35%, as noted CoinDesk, while the token called Jeo Boden, a meme coin inspired by President Joe Biden, soared 20%. However, this price trend seemed to take a turn in the following hours.
The same website shows that there are fewer tokens inspired by the current US president, with most of them trending lower this Friday, and with a few with lower percentage price increases.
The trend of memecoins inspired by Donald Trump emerges as a symbol of the place that the Republican has conquered within the community of cryptocurrency enthusiasts recently, with his comments in favor of Bitcoin and his promises to protect the digital asset industry in the US in case of being re-elected.
Trump, who has his own collections of tokens non-fungible (NFT), also began receiving cryptocurrencies as a donation mechanism for its campaign after having promised it to the holders of its NFTs.
Article by Hannah Estefanía Pérez / DailyBitcoin
Image created with an AI tool, under a free use license
WARNING: This is an informative article. DiarioBitcoin is a media outlet, it does not promote, endorse or recommend any particular investment. It is worth noting that investments in cryptoassets are not regulated in some countries. They may not be suitable for retail investors as the entire amount invested could be lost. Check the laws of your country before investing.
