Big pump & dump in the trade price of Biden-inspired meme tokens after Hunter Biden’s guilty verdict.
Robert Hunter Biden, the son of the current US President Joe Biden born on February 4, 1970, is an American attorney and businessman. He has held various roles throughout his career, including working as a hedge fund principal, venture capital and private equity fund investor, banker, lobbyist, and legal representative for lobbying firms.
As we know recently Hunter Biden has been convicted by a federal jury on three felony gun charges for illegally owning a firearm as a drug addict. This is the first conviction of a president’s immediate family member during their father’s term, though the crimes occurred before Joe Biden’s presidency. The jury reached a guilty verdict in under three hours, related to a revolver Hunter bought in October 2018.
Following this news, a significant pump & dump was seen in the trade price of all those meme coins inspired by the popularity of Hunder & his father Joe Biden.
The trade price of Jeo Boden (BODEN) — a deliberately misspelt token about the president — surged 16% but before that, a significant dump in the price of this token was seen.
During the same period, the HUNTBODEN token crashed by -66% but before that price was trading at $0.22, while the JILLBODEN token, inspired by the First Lady, experienced a notable 9% decline.
In the same period, the trade price of the Maga (Trump) meme token surged 8%, a token inspired by Biden’s biggest rival & former US president Donald Trump.
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