Trump’s Felony Conviction Escalates 70% Surge in Trump-Related Meme Coins Amid Unconditional Release
Former U.S. President Donald Trump has been found guilty of 34 felony charges related to falsifying business records in connection with hush-money payments to Stormy Daniels. Despite being a historical first for a U.S. president to receive a criminal conviction without serving jail time, Trump has been unconditionally released. He plans to file an appeal, criticizing the trial as unsupported by legal grounds. Following the verdict, there was a notable 70% increase in Trump-related meme coins like TRUMP, reflecting investor optimism towards his unconditional release. This price surge highlights the impact of political events on cryptocurrency markets, potentially indicating continued bullish sentiment for these tokens.
Bullish
The news of Trump’s conviction without jail time has sparked a strong positive reaction in the market for Trump-related meme coins, specifically TRUMP, which experienced a significant 70% surge. This enthusiasm is likely driven by investor confidence regarding Trump’s continued influence and potential legal victories. Historically, political figures in the spotlight often impact token values associated with their name, generating speculative bullish trading behavior. In the short term, this trend could sustain market interest and trading volume, suggesting a bullish outlook as long as Trump’s appeal and legal battles remain relevant.