Trump-Themed MemeCoin Surges After Assassination Attempt on Donald Trump

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Following a sluggish movement in the memecoin market for the last few weeks, some memecoin has shown exceptional growth in tokens connected to Donald Trump. This surge in value came in the wake of an assassination attempt on former US President Donald Trump during a rally in Pennsylvania.

Notably, MAGA (TRUMP) emerged as one of the biggest gainers, rising by 57%, alongside other Trump-related memecoins.

Hardest picture of all time. pic.twitter.com/gjAkAChgOQ

— Donald J. Trump News (@DonaldTNews) July 13, 2024

MAGA (TRUMP) Soar By 57%

MAGA (TRUMP), an Ethereum-based meme coin, saw a remarkable 57% increase in value after the assassination attempt on Donald Trump. However, after the attack, the price of MAGA Coin surged from $6.31 to $10.36, boosting its market capitalization from $293 million to $469 million in less than 45 minutes. 

As of now, the coin is trading at around $8.30, reflecting a significant rise in the last 24 hours. Despite the price surge, the TRUMP trading volume has seen a drop of 32%, with a current market cap of $363 million. 

Other Trump-Themed Memecoins Even Rise

Following the incident, other Trump-themed meme coins experienced significant price increases. Tremp (TREMP), a Solana-based meme coin, surged by 48% shortly after the attempt. Similarly, Maga Hat (MAGA) saw a brief 35% spike, reflecting the widespread market reaction to the event.

The Assassination Attempt

The world watched in shock as Donald Trump was nearly assassinated while speaking at a rally in a suburb of Pennsylvania. Various news channels captured the horrific moment when he fell to the ground after shots were heard in the background, prompting immediate action from Secret Service agents who quickly secured him and took him to safety.

Trump’s Odds of Winning Increase

Following the incident, Trump’s odds of winning the upcoming November presidential elections surged from 60% to 71% on Polymarket, an Ethereum-based prediction market. 

In contrast, President Joe Biden’s reelection odds dropped from 30% to 18% and 5% for Vice President Kamala Harris.

Elon Musk’s Endorsement

Meanwhile Elon Musk, CEO of X, publicly endorsed Donald Trump after the incident, wishing him a rapid recovery and expressing support for his presidential campaign. This endorsement is expected to further influence the political domain as the election approaches.