Political memecoins heat up after a jury found Trump guilty in a historic trial.

Political meme coins associated with former U.S. President Donald Trump have fluctuated significantly following the conclusion of his silence trial.

According to cryptocurrency price tracker CoinGecko, a Manhattan jury found Trump on 34 felonies for falsifying business records, causing the token called $TRUMP to surge 330% in the past day, trading at $0.019. He said it was done. Additionally, Jeo Boden (BODEN) token rose 9.2% during the same period, reaching $0.3319.

However, many Trump-related political meme coins showed a downward trend after the Trump ruling. The MAGA (TRUMP) token, which has 580,000 coins stored in a wallet related to Donald Trump, fell 16.2% the previous day to $11.54. MAGA VP (MVP), a token hinting at a connection to Trump’s potential vice-presidential candidate, was also trading around $0.48 after falling 16.5% over the past day.

Overall, the PolitiFi memecoin market cap has decreased 0.1% over the past day, reaching about $1.56 billion, CoinGecko said.

Trump was found guilty.

On May 30, a Manhattan jury found the former president guilty on 34 counts of falsifying business records. The charges relate to a $130,000 payment Trump’s attorney Michael Cohen made to an adult actress ahead of the 2016 presidential election.

President Trump’s sentencing is scheduled for July this year and he could face up to four years in prison.

Trump’s hush trial is considered historic because it is the first time a former U.S. president has been tried and convicted on criminal charges.

Trump’s future is unclear, but his public image has already been shaped by his cryptocurrency achievements. Ahead of Trump’s criminal trial in April, trading volume for the ‘Trump Digital Trading Card Collection’ plummeted by 99%.

His team first unveiled a collection of 45,000 NFTs starting at $99 per token in December 2022, The Block previously reported.

Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.