TRUMP coin rebounds after Trump conviction dip
Full story: https://grafa.com/news/trump-coin-rebounds-after-trump-conviction-dip-229481
Following a guilty verdict on 34 felony counts related to falsifying business records to conceal a hush money payment to Stormy Daniels, the value of the meme coin associated with Donald Trump, MAGA (CRYPTO:TRUMP), took a significant hit, dropping 16%.
This case, now moving towards sentencing, saw more than $130 million erase from the token's market cap in just 20 minutes, falling from $13.48 to $11.27.
In the aftermath, however, the MAGA (TRUMP) token witnessed recovery despite the initial plummet.
Simultaneously, the meme coin linked to Joe Biden, Jeo Boden (CRYPTO:BODEN), who is considered Trump's political adversary, experienced a surge.
It rallied by 6.4% within the first 15 minutes before facing a subsequent downturn.
This movement in meme coin valuations reflects the immediate impact of political events on cryptocurrency markets, particularly those tokens tied to public figures and their controversies.
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