Donald Trump’s conviction on 34 charges causes a major impact on Memecoin market.

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The former President of the United States, Donald Trump, known for his controversial actions and statements, is once again facing trouble that has major implications. A Manhattan jury has found him guilty of 34 felony charges related to the “hush money” case, causing a significant shockwave in the market for meme coins.

The prices of meme coins, which have a history of being highly volatile, experienced dramatic shifts following the verdict on Thursday. Coins associated with Trump, such as TRUMP, STRUMP, and BABYTRUMP, saw a sharp decline in value, while a coin associated with his opponent, Joe Biden, briefly saw a rise before also experiencing a drop.

In addition to the market for meme coins, Trump’s legal issues have also affected his cryptocurrency projects. The trading volume for his NFT collection, “Trump Digital Trading Card Collection,” has plummeted by 99%.

The guilty verdict against Trump marks a historic moment in U.S. politics, as it is the first time a former president has been convicted of a crime. This has intensified the already contentious political climate in the country. Despite his legal troubles, there are still predictions that Trump will win the upcoming election, according to the blockchain-powered prediction market, Polymarket.

The former president plans to challenge the decision and has claimed that the trial is politically motivated. The sentencing phase of the trial will now take place, and a sentence of up to four years in prison is possible. This could have a significant impact on his public image and cryptocurrency ventures.