TRUMP Token Plunges as Former President Convicted in New York

Following the guilty verdict in a New York trial, the TRUMP meme coin experienced a significant drop of 35%, reflecting the negative impact on its holders. Conversely, the Jeo Boden meme coin, inspired by President Biden, saw a surge of 20%. Trump's conviction on all 34 counts of falsifying business records marks a historic event, making him the first U.S. president to be convicted of a felony. Despite the verdict, traders on the blockchain-powered prediction market Polymarket continue to favor Trump in the upcoming November election, with 56% odds of winning compared to Biden's 38%.