Hunter Boden, a meme coin associated with Biden's son, rose after his guilty verdict

The US political theme Meme coins have suffered a heavy setback, with a market value drop of over 13% in the past 24 hours. In comparison, Bitcoin fell by about 4% and Ethereum fell by 5.4%. FreeTrump token (TRUMP) led the decline, dropping by 45%; the largest market value MAGA (TRUMP) fell by 13%.

A US federal jury found Hunter Biden guilty of three federal felony firearm charges, marking the first time that President Biden's son has been convicted. After the news was announced, the Hunter Boden token (HUNTERBODEN) on Solana rose more than 30% in 24 hours to $0.001514. Jeo Boden (BODEN) fell by 5.5% to $0.1855.

The stock market also faced selling pressure as it awaited the monthly consumer price index report and the Federal Reserve's monetary policy announcement. In recent weeks, expectations of a Fed rate cut have weakened.