So all in all the political meme Token category keeps on making gains while the crypto market as a whole is facing resistance, because in a statement, Donald Trump condemned the trial, labeling it is rigged and accusing the Judge of corruption. He suggested that the Biden administration orchestrated the trial to undermine a political rival.
Following the news, the market cap of the largest Trump-linked token (Trump) plummeted by over $130 million in just 20 minutes.
Despite the legal turmoil, Blockchain prediction market Polymarket still shows Trump holding a 54% chance of winning the upcoming election, compared to Joe Biden 40%
So this might be a reason for meme coins rally.
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