The son of U.S. president Joe Biden, Hunter Biden, has been found guilty on three counts related to gun charges—and in the hours that followed, Biden-related meme coins have soared in price.
Jeo Boden, an intentionally misspelled Joe Biden meme coin on Solana, jumped 9% in the hour that followed the guilty verdict, though its 24-hour trend is negative due to earlier losses during the span—it's down by 6% since this time yesterday at a current price above $0.18.
Hunter was found guilty on three counts relating to the purchase of a firearm in 2018. A jury decided that he lied about being a drug user when filling out the forms, which led to him being found guilty of three felonies in connection to the incident.
When his conviction was read out, the meme coin Hunter Boden (HUNTBODEN)—similarly an intentionally misspelled meme coin—spiked by 116% in less than 30 minutes, according to CoinGecko. This spike was short-lived, but even with a sizable dip, the token is up 30% on the day at a price of nearly $0.0015.
Trump Says He's ‘Good’ With Crypto, Trashes Biden Meme Coin BODEN
US Presidential candidate Donald Trump came out in support of cryptocurrency during a special event for Trump NFT holders at his Mar-a-Lago resort in Florida late Wednesday. The embattled former U.S. President and 2024 hopeful lamented that crypto companies are fleeing America. “Crypto is moving out of the U.S. because of hostility towards crypto,” Trump said. “We’ll stop it because I don’t want that—if we’re going to embrace it, we have to let them be here.” i asked donald trump how he’s goin...
That said, Hunter Boden has a tiny market capitalization of $1.6 million, according to DEX Screener, with only 862 unique wallets trading the token. Coins this small are more sensitive to volatility and should always be traded with care.
Interestingly, this is the opposite reaction that Donald Trump tokens had following the former president being found guilty for 34 felony charges. In reaction to the news in late May, TRUMP fell 25%, MAGA Hat (MAGA) slipped 16%, while Super Trump (STRUMP) also dropped 16%. But TRUMP and other tokens soon spiked in price after that initial dip.
Ethereum ETFs May Have Ended the SEC’s War on Crypto
May’s approval of spot Ethereum ETFs by the United States Securities and Exchange Commission (SEC) was the chef’s kiss on what can only be described as a banner month for crypto policy—and the move could severely undermine the SEC’s ongoing crypto crackdown. As the deadline to approve the Ethereum ETFs loomed, a bipartisan group of House of Representatives members sent a letter to SEC Chair Gary Gensler urging the Commission to not only approve the funds, but to also consider approval of “other”...
Following Hunter Biden’s guilty verdict Tuesday, meme coin Doland Tremp (TREMP) dropped 7%. On that note, Polymarket odds suggest betters believe that Joe Biden is 1% more likely to win the 2024 presidential election following Hunter Biden’s conviction.
Edited by Andrew Hayward
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