The Jeo Boden (BODEN) meme coin, which is linked to Trump's opponent Joe Biden, on the other hand, increased 6.4% over the first fifteen minutes before falling once more.
Following Donald Trump's conviction on 34 felony counts of falsifying company records, the most popular meme coin associated with the US presidential candidate saw a 16% decline before rebounding.
A sentence will be imposed in this case, which involves Trump hiding a hush money payment to adult film star Stormy Daniels.
Trump is still insisting he is innocent and calling the verdict of the trial a "disgrace." Trump declared, "This was a rigged trial by a conflicted, corrupt judge." "The Biden administration planned this in order to harm a political rival. The people's trial is scheduled for November 5.
In the 20 minutes that followed the revelation, the market cap of the Donald Trump-linked MAGA (TRUMP) token lost more than $130 million, falling from $13.48 to $11.27, according to CoinGecko. But the price rapidly recovered, and as of this writing, it was only 1.5% below its 24-hour top of $14.92, at $14.70. Two hours before the guilty verdict, throughout the two days that the jury deliberated, TRUMP had already started to decline.
Super Trump (STRUMP) and Baby Trump (BABYTRUMP), two other Trump-related coins, saw comparable declines but did not rebound as dramatically as TRUMP.
According to CoinGecko, the Jeo Boden (BODEN) meme currency increased 6.4% in the first fifteen minutes before dropping to $0.283, which is less than its pre-conviction value.
Crypto gamblers continue to believe Trump will win the November 5 election, with a 54%-win probability against Biden's 40% on the blockchain-powered prediction market Polymarket.
Judge Juan Merchan will mostly supervise the sentencing phase of Trump's case going forward.
Merchan will probably give dates for sentencing memos, in which all parties will present their case for the appropriate sentence.
John Deaton, attorney for the United States, said that the Trump ruling will "put more gasoline on the fire of division" and voiced concerns about the direction the nation is going.
"You're going to witness a strengthening of both sides' positions," Deaton stated to the Cointelegraph on May 3 at Consensus.
Trump has been reaching out to the digital currency business more lately.
He promised to back the 50 million cryptocurrency owners in the nation who have the right to self-custody Bitcoin and other currencies. Bitcoin price has been turbulent recently, with some experts linking the variations to Trump's engagement in the business. This approach could have an impact on the future of cryptocurrency regulation in the United States.
He "made NFTs hot again," he declared at a dinner in April with a large group of NFT aficionados who had purchased his Mugshot NFT. If elected, he also pledged to keep national innovators and local industrial enterprises in the nation.
