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Author: Jesse Coghlan, CoinTelegraph; Compilation: Baishui, Bitchain Vision
The Biden-themed Solana meme coin briefly soared before falling again after U.S. President Joe Biden’s son Hunter Biden was found guilty of three federal gun cases.
CoinGecko data shows thatOn June 11, Jeo Boden (BODEN), a deliberately misspelled presidential token, rose 26% to a 24-hour high of nearly $0.20 within five hours after a jury in Delaware federal court found his son guilty.
According to CoinGecko, at about the same time,Hunter Boden (HUNTBODEN) tokens rose 116% to a daily high of $0.0022 (less than a cent), while Jill Boden (JILLBODEN), a first lady-themed, fell sharply by 9%.
The rally failed to continue, with BODEN and HUNTBODEN down 6% and nearly 54% in the past 24 hours, respectively, and JILLBODEN down 14.7%.
BODEN 24-hour price chart shows prices rising before and after Hunter Biden’s conviction.Source: CoinGecko
According to GeckoTerminal, the HUNTBODEN token has a much smaller market capitalization of less than $583,000 compared to BODEN’s market capitalization of more than $124.6 million.
Recovering cocaine addict Hunter Biden was found guilty of lying on a 2018 form to buy a Colt revolver and claiming it was a fact.The third charge was possession of a firearm for 11 days.
He now faces up to 25 years in prison.
at the same time,Doland Tremp (TREMP) – a deliberately misspelled Solana memecoin, political rival of President Biden, Donald Trump – fell more than 12% to $0.93 on the day.
Their price declines are accompanied by a wider market downturn.Top meme tokens Dogecoin, Shiba Inu and Dogwifhat (WIF) have all seen 5% or more declines in the past day, while Pepe is the only major memecoin to see a slight increase of more than 5.5%.
Bitcoin and Ethereum have fallen by 3% and 4.5% in the past day, respectively – the top cryptocurrencies are trading at $67,395, while ETH is trading at $3,503.
