Meme Coin Values Sink as Trump's Bond Reduction News Hits

Following the reduction of former President Donald Trump's bond from $454 million to $175 million, meme coins featuring his likeness have experienced a decline in value. Ethereum-based MAGA coin and Solana-based Doland Tremp coin have witnessed drops in value after initial gains, while Boden coin, inspired by President Joe Biden, has gained traction.

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Meme Coins Depreciate as Trump's Bond Reduction News Emerges

Former President Donald Trump's $454 million bond obligation has been significantly reduced to $175 million following a successful appeal. However, the market performance of popular meme coins bearing his likeness appears to be cooling off in the wake of this development.

TRUMP Meme Coin Experiences Volatility

As trading commenced in New York, an Ethereum-based MAGA meme coin, identified by the TRUMP ticker, exhibited a decline in value. It briefly traded at $4.95, marking a 5.5% drop within an hour. At the time of writing, the coin is valued at $5.09, representing an 11% depreciation since reaching a 24-hour high of $5.74 overnight, according to CoinGecko data.

Doland Tremp (TREMP) Sees Mixed Performance

On the Solana blockchain, the Doland Tremp (TREMP) meme coin, which gained significant attention earlier this month, has experienced an 84% surge over the past 24 hours. However, it is important to note that the majority of these gains were realized prior to the court ruling. The coin has subsequently declined by 12% over the past six hours.

TREMP is the most prominent Solana meme coin inspired by the former president, but numerous others, such as Danold Tromp (DANOLD), have also entered the market. Investors are cautioned that these assets are highly volatile and can experience rapid fluctuations in value. Both TREMP and TRUMP have witnessed substantial gains and losses earlier this month.

BODEN Meme Coin Gains Traction

Jeo Boden (BODEN), another Solana meme coin based on a misspelling of President Joe Biden's last name, has appreciated by 30% over the past day. Its market capitalization currently stands at $224 million.

Trump's Extended Bond Payment Deadline

Trump has been granted an additional 10 days to fulfill his bond obligation. Failure to do so, stemming from a fraud judgment against him, could result in the seizure of his assets by New York Attorney General Letitia James.

While media attention has largely focused on Trump's physical properties, such as the Mar-a-Lago resort in Florida, he also possesses other assets, including approximately $5.7 million held in a crypto wallet linked to him by blockchain analytics firm Arkham Intelligence.

Trump's Crypto Holdings

The wallet currently contains $3 million worth of the TRUMP meme coin. Trump also holds $1.3 million each of Ethereum (ETH) and Wrapped Ethereum (WETH). In December, he sold millions of dollars worth of ETH after his third NFT collection underperformed.

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