Biden-themed Solana memecoins briefly surged then fell again after United States President Joe Biden’s son, Hunter Biden, was found guilty on three charges in a federal gun case.
Jeo Boden (BODEN) — a deliberately misspelled token in reference to the president — jumped 26% to a 24-hour high of nearly $0.20 in the five hours after a Delaware federal court jury convicted his son on June 11, CoinGecko data shows.
Around the same time, the Hunter Boden (HUNTBODEN) token jumped 116% to a daily high $0.0022 — a fraction of a cent — while the First Lady-themed Jill Boden (JILLBODEN) sharply dipped 9%, according to CoinGecko.
The rally didn’t stick, with BODEN and HUNTBODEN respectively down 6% and nearly 54% in the last 24 hours and JILLBODEN down 14.7%.
The HUNTBODEN token has a significantly smaller market capitalization of under $583,000 compared to BODEN’s over $124.6 million, according to GeckoTerminal.
Hunter Biden, a recovering crack cocaine addict, was found guilty of lying on a form to buy a Colt revolver in 2018 that he wasn’t a drug user and declaring that was true. The third charge was for keeping the gun for 11 days.
He now faces a maximum of 25 years in prison.
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Meanwhile, Doland Tremp (TREMP) — the purposefully misspelled Solana memecoin for President Biden’s political rival Donald Trump — dropped over 12% on the day to $0.93.
Their price drops come alongside a wider market downturn. Top meme tokens Dogecoin (DOGE), Shiba Inu (SHIB) and Dogwifhat (WIF) have seen 5% or more drops in the last day, with Pepe (PEPE) the only major memecoin to see slight gains of over 5.5%.
Bitcoin (BTC) and Ether (ETH) have also seen respective drops of 3% and 4.5% in the last day — the top cryptocurrency is trading at $67,395 while ETH is sitting at $3,503, according to Cointelegraph Markets Pro.
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