MAGA Memecoin (TRUMP) Spikes 52% Following Donald Trump Assassination Attempt

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Ruholamin Haqshanas

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Ruholamin Haqshanas

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Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

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July 14, 2024

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The largest Donald Trump-themed memecoin, MAGA (TRUMP), experienced a price surge of over 50% following an assassination attempt on the former United States president while he was speaking at a rally in Butler, Pennsylvania.

The Ethereum-based memecoin saw its value soar from $6.31 to $10.36 immediately after the incident, causing its total market capitalization to skyrocket from $293 million to $469 million in less than 45 minutes.

The news of the assassination attempt also had an impact on other Trump-themed meme coins.

Tremp (TREMP), a memecoin based on the Solana blockchain, surged by more than 63% within an hour of the incident.

Another memecoin called MAGA Hat (MAGA) briefly spiked by 21% during the same timeframe.

Trump’s Assassination Attempt

During the rally in Butler, Pennsylvania on July 13, several shots were fired from an unknown direction while Trump was on stage.

The former president reacted quickly, clutching his ear and dropping to the ground as Secret Service agents rushed to protect him.

Shooting just happened at The Trump rally pic.twitter.com/Xs1dVL1H3T

— Acyn (@Acyn) July 13, 2024

An official spokesperson from Trump’s campaign assured the public that he was unharmed and receiving medical treatment at a local facility.

“President Trump thanks law enforcement and first responders for their quick action during this heinous act,” spokesman Steven Cheung said in a statement.

“He is fine and is being checked out at a local medical facility. More details will follow.”

The attempted assassination had immediate consequences in the realm of prediction markets as well.

On the Ethereum-based prediction market Polymarket, Trump’s odds of winning the upcoming election jumped from 60% to 68% following the incident, while President Joe Biden’s predicted odds of reelection fell from 30% to 15%, according to data from Polymarket.

As a result, Trump is now the clear favorite on the prediction market, with overall odds of 70%.

Biden trails behind with a 15% chance of winning, and Vice President Kamala Harris has a 9% chance.

Trump’s Stance on Crypto

Notably, Trump’s stance on cryptocurrencies has evolved over time.

Despite previously criticizing Bitcoin as a “scam,” he has recently changed his tune.

On June 14, he declared that he would end the Biden administration’s “war on crypto” if elected president.

Trump had also previously criticized Biden for his harsh stance on cryptocurrencies, emphasizing that the United States should strive to be a leader in the crypto industry.

As reported, a survey conducted by the Harris Poll has revealed that one in three voters in the US consider a candidate’s position on cryptocurrencies before making their voting decision.

Another survey conducted by leading crypto venture capital firm Paradigm reveals that Trump’s poll numbers for the 2024 US Presidential Election enjoy significant support from the crypto community.

The survey, which included 1,000 registered voters, found that 48% of crypto owners plan to vote for the former president, while 39% intend to vote for current U.S. President Joe Biden.

Likewise, a recent report from Coinbase claimed that California voters who own cryptocurrencies are expected to have a significant impact on the 2024 elections.