BODEN Solana Meme Coins Soar on Hunter Biden Guilty Verdict

The son of U.S. president Joe Biden, Hunter Biden, has been found guilty on three counts related to gun charges—and in the hours that followed, Biden-related meme coins have soared in price.

Jeo Boden, an intentionally misspelled Joe Biden meme coin on Solana, jumped 9% in the hour that followed the guilty verdict, though its 24-hour trend is negative due to earlier losses during the span—it’s down by 6% since this time yesterday at a current price above $0.18.

Hunter was found guilty on three counts relating to the purchase of a firearm in 2018. A jury decided that he lied about being a drug user when filling out the forms, which led to him being found guilty of three felonies in connection to the incident.

When his conviction was read out, the meme coin Hunter Boden (HUNTBODEN)—similarly an intentionally misspelled meme coin—spiked by 116% in less than 30 minutes, according to CoinGecko. This spike was short-lived, but even with a sizable dip, the token is up 30% on the day at a price of nearly $0.0015.

That said, Hunter Boden has a tiny market capitalization of $1.6 million, according to DEX Screener, with only 862 unique wallets trading the token. Coins this small are more sensitive to volatility and should always be traded with care.

Interestingly, this is the opposite reaction that Donald Trump tokens had following the former president being found guilty for 34 felony charges. In reaction to the news in late May, TRUMP fell 25%, MAGA Hat (MAGA) slipped 16%, while Super Trump (STRUMP) also dropped 16%. But TRUMP and other tokens soon spiked in price after that initial dip.

Following Hunter Biden’s guilty verdict Tuesday, meme coin Doland Tremp (TREMP) dropped 7%. On that note, Polymarket odds suggest betters believe that Joe Biden is 1% more likely to win the 2024 presidential election following Hunter Biden’s conviction.

Edited by Andrew Hayward

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.