Trump Guilty Verdict Sends Political Meme Coins Skyrocketing, FreeTrump Coin Surges 633%

Updated: 31 May 2024

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The market cap for political meme coins soared 6% over the past 24 hours with the FreeTrump (TRUMP) token skyrocketing 497% after a Manhattan jury found former US President Donald Trump guilty on 34 felony counts in his hush money trial.

Largest political meme coins by market cap (Source: CoinGecko)

FreeTrump’s meteoric rise pushed the altcoin’s weekly performance up a staggering 1,047%. As a result, the meme coin traded hands at $0.0233 as of 2:25 a.m. EST.

MAGA Attempts Recovery After Flash Crash Following Trump Guilty Verdict

MAGA (TRUMP), the largest altcoin linked to the former president, plummeted to a low of $10.86 over the past 24 hours. After he was found guilty, the altcoin went ballistic and was able to set a new all-time high (ATH) at $17.23. But its rollercoaster price movements continued, with TRUMP dropping 21% from its new peak.

The wild fluctuations of the MAGA price came after Trump was found guilty of falsifying business records and concealing documents relating to hush money paid to adult entertainment star Stormy Daniels. Following the guilty verdict, the case will now proceed to sentencing.

Opportunistic developers also looked to capitalize on the President’s trial, leading to the launch of another Trump-themed meme coin called NEVER SURRENDER (TRUMP). After entering the market yesterday, the altcoin has soared 52,737%.

KENIDY And PTRUMP Among The Biggest Gainers

Another meme coin linked to the former President, Pepe Trump (PTRUMP), was also able to post a 24-hour gain. After pumping 8% over the past 24 hours, the crypto’s price climbed to $0.01475.

Trump is winning – at least the Political Meme Token race!

Explore the list of Political Meme Tokens fueling the rivalry 👇https://t.co/8tTf8nVYSU pic.twitter.com/rWbFOZTAi2

— CoinMarketCap (@CoinMarketCap) May 30, 2024

Meanwhile, Ruburt F Kenidy Jr (Kenidy) was among the top 5 gainers with its more than 22% surge. However, KENIDY’s recent gain was not enough to push the meme coin’s weekly performance out of the red zone.