Former U.S. President Donald Trump became the first former president to be convicted of crimes, and the leading Republican candidate for the 2024 elections made history as the first presumptive major-party nominee to become a convicted felon. Following Trump's guilty verdict, meme tokens linked to him experienced extreme volatility, initially crashing but quickly rebounding, resulting in double-digit gains for their holders.

Recent data shows that the FreeTrump (TRUMP) meme coin surged 579.07% in the last 24 hours, trading at $0.02331 as of 2:18 a.m. ET on Friday. The token's trading volume soared by 9030.64%, reaching $4.48 million, with a market cap of $2.59 million. The FreeTrump token was created in response to Trump's indictment and pending arrest, advocating for his release and portraying the political situation as harmful to the United States.

Conversely, the MAGA (TRUMP) meme token initially dropped from $13.73 to $11.28 but later peaked at $17, eventually settling at $13.72. Its trading volume increased by 165.68% to $50.4 million, with a market cap of $600 million. Additionally, the TRUMP (MAGA) cryptocurrency saw a 5.93% price increase, trading at $0.000002897, though its trading volume decreased by 8.30% to $164,019.69, with a market cap of $289,471.76.

The Super Trump (STRUMP) coin fell by 31.87%, priced at $0.01236, with a 39.58% drop in trading volume and a market cap of $22,008,251. Another Trump-themed meme cryptocurrency, TRUMP (TRUMP), rose by 35.99% in the past 24 hours, trading at $0.00006886, with a 7.14% increase in trading volume to $541,000 and a market cap of $3.34 million.

The rise in the FreeTrump cryptocurrency's value reflects the support from Trump's backers who want him freed. Trump's sentencing, following his conviction on all 34 counts in a hush-money case, is set for July 11. He plans to appeal the judgment. Reports indicate that Trump is expected to be named the Republican Party's official candidate shortly after his sentencing. He is currently in a statistical tie with President Joe Biden and holds a slight lead in key swing states, crucial for the upcoming election. Trump has frequently expressed support for digital assets and criticized the Biden administration's approach to the crypto sector.