🚨What Happened to Crypto After Biden's Son's Conviction? 🤯💥
In a surprising twist, the world of cryptocurrency saw a rollercoaster of activity following the conviction of Hunter Biden, son of President Joe Biden. Hunter was found guilty on three federal gun charges, causing a flurry of reactions in the meme coin market. 🚀💸
Within just five hours of the Delaware federal court jury's decision on June 11, the Biden-themed Solana meme coin, Jeo Boden (BODEN), saw a sharp increase of 26%, hitting a 24-hour high of nearly $0.20. 📈💰 But that’s not all! The Hunter Boden (HUNTBODEN) token skyrocketed by a staggering 116% to a daily high of $0.0022, while the Jill Boden (JILLBODEN) coin, themed after the First Lady, took a 9% plunge. 📉😲
The excitement was short-lived, though. BODEN and HUNTBODEN tumbled down 6% and nearly 54% respectively over the next 24 hours, with JILLBODEN down 14.7%. 🔻📉 To put it in perspective, BODEN's market cap stands at over $124.6 million, whereas HUNTBODEN's is significantly smaller at under $583,000. 💸📊
Hunter Biden’s conviction stemmed from lying on a form to buy a Colt revolver in 2018, claiming he was not a drug user. He now faces up to 25 years in prison. 🚔⚖️
Meanwhile, President Biden’s political rival, Donald Trump, was not left out of the crypto drama. The Doland Tremp (TREMP) coin — an intentionally misspelled meme coin representing Trump — fell more than 12% to $0.93. 📉😲
This meme coin turmoil mirrors a broader market downturn. 📉💔 Top meme tokens like Dogecoin, Shiba Inu, and Dogwifhat (WIF) all saw losses exceeding 5%, while Pepe emerged as a rare winner, gaining more than 5.5%. 📉🐕📉 Major cryptocurrencies Bitcoin and Ethereum also took a hit, dropping 3% and 4.5% respectively. Bitcoin is now trading at $67,395, with ETH at $3,503. 📉📉
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