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What we see these days is either a cartoon scene or a good example of the future role of meme coins. Recently, a trial decision for Trump was announced, marking a first in US history. Following this decision, some cryptocurrencies began to show abnormal activity.
Trump Convicted, What About His Altcoin?
The jury finding Donald Trump guilty ruined the day for the former US president. Bitcoin price didn’t care much, but Trump-themed meme coins saw abnormal drops. TRUMP Coin fell by about 35% following the decision. When some fall, others must rise. Indeed, we see Biden-themed cryptocurrencies also rising. Gains exceeded 20%.
After being found guilty on all 34 charges by a New York jury, Trump achieved a first. He was accused of falsifying records, making him the first US President to be convicted of a serious crime. With his colorful personality and original demeanor, he deserved this.
Meme coins, as seen in today’s example, have almost turned into a betting tool. Trump’s conviction affected prices due to its impact on his election chances or image. Biden’s chances increased, so the prices of his tokens rose. Perhaps we see meme coins turning into something like a person valuation or betting tool.
