MAGA Coin Surges After Trump Assassination Attempt
The memecoin inspired by Donald Trump, **MAGA coin (TRUMP)**, has seen a significant price surge following an assassination attempt on the former president. The incident, which occurred during a rally in Pennsylvania, sent shockwaves through the crypto community and propelled the coin’s value upwards.
Price Surge and Market Capitalization
Immediately after the incident, the price of MAGA coin soared from $6.31 to $10.36, representing a 46.9% increase. This surge resulted in the coin’s market capitalization ballooning from $293 million to $469 million in under 45 minutes. Although the price has since settled slightly, it is still up 46.9% in the past 24 hours, according to CoinGecko data.
Other Trump-Themed Memecoins
Other memecoins inspired by Donald Trump also experienced price surges following the assassination attempt. **Tremp (TREMP)**, a Solana-based memecoin, witnessed a 63% surge in price. **Maga hat (MAGA)** also saw a brief 21% spike.
Trump’s Odds of Winning Increase
Following the incident, Trump’s odds of winning the upcoming November presidential elections on Polymarket, an Ethereum-based prediction market, surged from 60% to 68%. Biden’s odds, on the other hand, dropped from 30% to 15% during the same timeframe. Trump is now the clear favorite on the prediction market, with overall odds of 70%.
Elon Musk’s Endorsement
X owner Elon Musk publicly endorsed Donald Trump after the incident, wishing him a rapid recovery. This endorsement could further fuel the interest in Trump-themed memecoins.
MAGA Coin’s Political Ties
MAGA coin (TRUMP) belongs to the PoliFi category of crypto assets, meaning its price value is often influenced by political developments. The coin’s surge following the assassination attempt highlights its sensitivity to events related to the former president.
Disclaimer
This post is for informational purposes only and should not be considered financial advice. It is important to conduct thorough research and consult with a financial professional before making any investment decisions.
