Former US President Donald Trump became the first sitting Oval Office occupant to be convicted of crimes, while the leading Republican candidate for the 2024 elections made history by being the first presumed major-party nominee to face a felony conviction. In the wake of Trump's guilty verdict, meme tokens linked to the billionaire experienced extreme volatility, initially plummeting before swiftly rebounding, resulting in substantial gains for holders.

Recent data shows a significant surge in the FreeTrump (TRUMP) meme coin, which skyrocketed by 579.07% in the past 24 hours, reaching a trading price of $0.02331 as of 2:18 a.m. ET Friday. Trading volume for the token surged by 9030.64%, reaching $4.48 million, while its market cap sits at $2.59 million. The FreeTrump token was launched to symbolize Trump's indictment and impending arrest, with its creators advocating for a free United States and a "FREE TRUMP!"

Meanwhile, the MAGA (TRUMP) meme token experienced a bearish trend at the start of the day, dropping from $13.73 to $11.28, but later surged to $17 before settling at $13.72. The token saw a 165.68% increase in trading volume over the past day, amounting to $50.4 million, with a market cap of $600 million.

Additionally, the TRUMP (MAGA) cryptocurrency saw a 5.93% price surge, reaching $0.000002897, with a decrease of 8.30% in trading volume, totaling $164,019.69, and a market cap of $289,471.76.

The Super Trump (STRUMP) crypto coin witnessed a significant drop of 31.87%, priced at $0.01236, with a 39.58% decline in trading volume and a market capitalization of $22,008,251.

Another Trump-themed meme cryptocurrency, TRUMP (TRUMP), surged by 35.99% in the past 24 hours, trading at $0.00006886, with a 7.14% spike in trading volume, reaching $541,000, and a market cap of $3.34 million.

Trump's conviction and the subsequent fluctuations in meme token prices reflect the sentiments of supporters who are calling for his release. Despite the guilty verdict in the hush-money case, Trump plans to appeal the judgment, with his sentencing scheduled for July 11. Reports indicate that he is expected to be officially named as the Republican Party's candidate shortly after his sentencing, maintaining a close race with President Joe Biden and holding a slight lead in crucial swing states, which could determine the outcome of the upcoming election. Trump has frequently voiced his support for digital assets and criticized the Biden administration's handling of the crypto sector.