MAGA (TRUMP) coin, a coin inspired by Donald Trump, the 45th president of the United States and a leading candidate for the November presidential election, has surged 46.9% in value after an assassination attempt on him while he was speaking at a rally in Pennsylvania.
The price of Memecoin surged from $6.31 to $10.36 after the incident, causing its market cap to grow from $293 million to $469 million in less than 45 minutes.
However, at the time of writing, memecoin is currently trading at $9.30, which represents a 46.9% increase in the past 24 hours according to coin gecko data.
MAGA (TRUMP) is the largest Trump-themed cryptocurrency by price and market cap. Other Trump-themed cryptocurrencies also saw their prices rise after the assassination.
Tremp (TREMP), a Solana-based memecoin also inspired by Donald Trump, saw a 63% price surge moments after the assassination attempt.
The MAGA movement also saw a slight increase of 21% after the assassination, which sparked a wave of online backlash.
assassination attempt
Yesterday, the world was shocked by the assassination attempt on Donald Trump while he was speaking at a rally in suburban Pennsylvania.
Various video footage of the moment showed the presidential candidate for the upcoming November elections falling to the ground and clutching his ears after gunshots were heard in the background.
Secret Service agents immediately surrounded Donald Trump and took him to a safe place while he was beating the air.
Trump campaign spokesman Stephen Cheung confirmed to the press that Donald Trump was fine after the incident.
“President Trump thanks law enforcement and first responders for their swift action during this heinous act,” Trump campaign spokesman Stephen Cheung said in a statement.
“He is fine and is being tested at a local medical facility. We will provide you with more details later,” he added.
Trumps Odds Rise on Polymarket
Following yesterday’s incident, the odds of Trump winning the upcoming presidential election in November on Polymarket, an Ethereum-based prediction market, have risen from 60% to 68%.
Biden’s odds in the polls dropped from 30% to 15% in the same time frame.
Trump is now the favorite in the prediction market, with overall odds of 70%.
Meanwhile, X company owner Elon Musk publicly supported Donald Trump after yesterday’s accident and wished him a speedy recovery.
What you should know
Donald Trump is seen as a pro-crypto candidate and has a lot of support from the crypto community in the US. This was not always the case as the former president previously held anti-crypto views before making a 360-word round in support of crypto. MAGA (TRUMP) belongs to the PoliFi category of crypto assets and its price value is usually influenced by developments in the run-up to the November presidential election.