MAGA Coin (TRUMP) Surges After Assassination Attempt on Donald Trump
MAGA Coin (TRUMP), a memecoin inspired by Donald Trump, has seen a significant price surge following an assassination attempt on the former president. The incident, which occurred during a rally in Pennsylvania, resulted in a 46.9% price increase for the memecoin, pushing its market capitalization from $293 million to $469 million in less than 45 minutes.
While the price has since settled slightly, it remains up 46.9% in the past 24 hours. MAGA Coin is the largest of the Trump-themed memecoins, and its surge has been accompanied by increases in other Trump-inspired cryptos. Tremp (TREMP), a Solana-based memecoin, experienced a 63% price surge following the assassination attempt, while Maga Hat (MAGA) saw a brief 21% spike.
Trump’s Odds of Winning Spike
The assassination attempt has also had an impact on Trump’s odds of winning the upcoming presidential election. On Polymarket, an Ethereum-based prediction market, Trump’s odds of winning have surged from 60% to 68%, while Biden’s odds have dropped from 30% to 15%. This makes Trump the clear favorite on the prediction market, with overall odds of 70%.
Trump and Cryptocurrency
Donald Trump has been a polarizing figure in the cryptocurrency space. While he initially held anti-crypto views, he has since done a 180 and now supports cryptocurrencies. MAGA Coin (TRUMP) is categorized as a PoliFi asset, meaning its price is often influenced by political developments, particularly those related to the November presidential election.
The recent events highlight the volatility of memecoins and their susceptibility to real-world events. It remains to be seen how the assassination attempt will ultimately impact the price of MAGA Coin (TRUMP) and other Trump-themed memecoins.
