- A price increase of more than fifty percent was witnessed by MAGA (TRUMP), the largest memecoin with a Donald Trump theme, when the former US president was targeted for assassination while giving a speech at a rally in Butler, Pennsylvania.
Shortly after the occurrence, the value of the Ethereum-based memecoin shot up from $6.31 to $10.36, and in less than 45 minutes, its total market capitalization soared from $293 million to $469 million.
Other meme currencies with a Trump theme were also impacted by the news of the attempted murder.
Within an hour of the occurrence, the Solana blockchain-based memecoin Tremp (TREMP) increased by almost 63%.
During the same period, MAGA Hat (MAGA), another memecoin, experienced a temporary 21% surge.
The Attempt to Assassinate Trump
On July 13, while Trump was speaking on stage at the rally in Butler, Pennsylvania, multiple rounds were fired from an unidentified direction.
In a flash, the former president dropped to the ground, clutching his ear, while Secret Service operatives raced to his aid.
The public was reassured by an official campaign representative for Trump that he was unharmed and receiving medical attention at a nearby facility.
According to spokesman Steven Cheung, President Trump expressed gratitude to law police and first responders for their prompt action during this horrific crime.
Prediction markets also experienced direct repercussions from the attempted killing.
Following the incident, President Joe Biden’s anticipated odds of reelection dropped from 30% to 15% on the Ethereum-based prediction market Polymarket, while Trump’s odds of winning the next election increased from 60% to 68%.
With chances of 70% overall, Trump has emerged as the overwhelming favorite on the prediction market.
Biden trails behind with a 15% probability of winning, and Vice President Kamala Harris has a 9% chance.
The Trump Position on Crypto
It’s noteworthy that Trump’s views on cryptocurrencies have changed with time.
Though he formerly called Bitcoin a “scam,” he has since had a change of heart.
He said on June 14 that if elected president, he will put an end to the Biden administration’s assault on cryptocurrency.
In the past, Trump has also attacked Biden for taking a tough position on cryptocurrencies, saying that the US should want to lead the crypto sector.
As previously reported, a Harris Poll survey found that one-third of American voters think about a candidate’s stance on cryptocurrencies before casting a ballot.
Leading crypto venture capital firm Paradigm performed a second survey, which shows that the crypto community strongly supports Trump’s poll numbers for the US Presidential Election of 2024.
Of the 1,000 registered voters surveyed, 48% of cryptocurrency owners said they would vote for the outgoing president, while 39% said they would vote for the incumbent, U.S. President Joe Biden.
Similarly, a recent Coinbase analysis asserted that cryptocurrency-owning California voters will likely have a big influence on the 2024 elections.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
