Donald Trump, the former US President and current Republican candidate in the upcoming presidential elections has been found guilty on 34 felony counts for falsifying financial records.
Despite this negative news, almost all meme coins created in the former US president’s name have recorded impressive gains after the news broke. The largest Trump meme coin by market cap, MAGA (TRUMP), saw its trading volume increase by 171.20% and its price by over 20% after the guilty verdict was reported.
Which are the most profitable Trump memecoins?
Prices of certain Donald Trump memecoins are skyrocketing. These include FREETRUMP, TRUMP, Trump SOL, and PAPA Trump, among others. According to a report by Lookonchain, a savvy trader earned $167,000 in just five hours by trading FREETRUMP. These came after a multitude of Trump-themed meme cryptocurrencies were issued.
As of the time of publication, the data on the top-performing Trump memecoins is as follows:
FreeTrump: $0.02002, up 487.25% in 24 hours
TRUMP: $0.00006906, up 36.39% in 24 hours
Trump SOL: $0.0006784, up 32.72% in 24 hours
PAPA Trump: $0.001226, up 18.99% in 24 hours
The rising value of Trump memecoins illustrates the typical volatility in cryptocurrency markets. The more stable stock market is showing a different trend. Meanwhile, Trump’s wealth took a hit as the shares of his social media company plummeted after the court ruling.
Donald Trump’s net worth plummets
The stock of Trump Media, the company that owns the social media platform Truth Social, dropped by as much as 15%. Trump has a 65% stake in Trump Media. The decrease in share price resulted in a loss of $532 million.
When the market closed yesterday, Trump’s net worth was reported to be $7.8 billion. Much of this comes from his $5.9 billion share in Trump Media, which fell to around $5.4 billion at Thursday’s closing share price.
Another fact testifying to crypto market volatility involves the declining prices of other Trump tokens, such as Simpson (TRUMP), Donald Trump (TRUMP2024), Donald Trump 2.0 (TRUMP2024), and TRUMP ON BASE (TRUMP), which have lost 34.08%, 7.17%, 8.26%, and 21.13% in the last 24 hours, respectively.
Around 100 Trump meme coins exist, some of which are experiencing significant increases in value while others are declining. We advise keeping a close eye on the price fluctuations of these various coins to make an informed investment or trading choices.
