Politically-focused meme coins surged after Donald Trump was found guilty in connection with hush money payments to Stormy Daniels during the 2016 election.
The “FreeTrump” coin surged 330%, while BODEN, named after Biden, rose more than 20%. Many coins mined using Trump’s name have seen some surges and some sharp declines.
MAGA (TRUMP), which is also in Donald Trump’s crypto wallet, fell more than 16%, while MAGA VP (MVP) fell 18%. Super Trump (STRUMP) fell 22% and Maga Hat fell 20%. Maga Hat had risen 570% in the last 1 week.
Will Trump be able to participate in the election?
A jury in a Manhattan court found Trump guilty on 34 counts. Trump’s guilty verdict in the case related to the former US President’s payment of hush money to some people, particularly adult film actress Stormy Daniels, ahead of the presidential election was the first of its kind in the US. It will be the first time a US president or presidential candidate has been convicted. However, US law does not prevent a person convicted in a case from running for office. Therefore, Trump will not be unable to participate in the elections.
His donation site also crashed
Trump’s guilty verdict seems to have put him in an even stronger position against Biden. After the verdict was announced, many Republican lawmakers supported Trump, while the presidential candidate’s donation system crashed due to overcrowding.
Despite the accusation, many polls show Trump ahead of Biden.
The decision on Trump will be made on July 11th. The Republican Party will officially announce its presidential candidate a few days later.