The MAGA (TRUMP) memecoin, themed around former President Donald Trump, witnessed a dramatic 52% spike following an assassination attempt during a rally in Butler, Pennsylvania.
MAGA Memecoin Spike Details
The Ethereum-based MAGA (TRUMP) memecoin saw its value soar from $6.31 to $10.36, propelling its market capitalization from $293 million to $469 million within just 45 minutes of the incident.
Other Trump-themed meme coins also reacted sharply:
- Tremp (TREMP): Based on the Solana blockchain, it surged by over 63% within an hour.
- MAGA Hat (MAGA): Briefly spiked by 21% in the same timeframe.
Details of the Assassination Attempt
During the rally on July 13, multiple shots were fired from an unknown direction while Trump was speaking on stage. Trump quickly reacted by clutching his ear and dropping to the ground, as Secret Service agents rushed to protect him.
An official spokesperson from Trump’s campaign assured the public of his safety. “President Trump thanks law enforcement and first responders for their quick action during this heinous act,” spokesman Steven Cheung said in a statement. “He is fine and is being checked out at a local medical facility. More details will follow.”
Impact on Prediction Markets
The assassination attempt also influenced prediction markets:
- On Polymarket, Trump’s odds of winning the upcoming election jumped from 60% to 68%.
- President Joe Biden’s predicted odds of reelection fell from 30% to 15%.
As a result, Trump now holds a 70% overall chance of winning, with Biden trailing at 15%, and Vice President Kamala Harris at 9%.
Trump’s Evolving Stance on Crypto
Trump’s position on cryptocurrencies has notably evolved. Previously labeling Bitcoin a “scam,” he recently pledged to end the Biden administration’s “war on crypto” if reelected. He criticized Biden’s harsh stance on cryptocurrencies, advocating for the U.S. to lead in the crypto industry.
Crypto Community Support
Recent surveys highlight significant support for Trump within the crypto community:
- Harris Poll: One in three U.S. voters considers a candidate’s position on cryptocurrencies before voting.
- Paradigm Survey: Found that 48% of crypto owners plan to vote for Trump, compared to 39% for Biden.
- Coinbase Report: California voters who own cryptocurrencies are expected to have a significant impact on the 2024 elections.
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