Good day everyone,
I hope you are all having a good day, welcome to CryptoGod-1's blog on all things crypto. In this post I will be looking at the spike in the largest Donald Trump based memecoin following the assassination attempt on the former President.
MAGA (TRUMP)
The largest Donald Trump-themed memecoin, MAGA (TRUMP), has seen a spike in its value since the assassination attempt on presidential candidate Donald Trump. The attempt took place as the former United States president was speaking at a rally in Butler, Pennsylvania, and this saw a surge in price of over 50%.
The memecoin is based on Ethereum and its value went 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. Other Trump based memecoins also saw a surge in price following the news of the assassination attempt. 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.
As part of the rally in Butler, Pennsylvania on the 13th of July 2024, several shots were fired from an unknown direction while Trump was on stage. Reports from eyewitnesses noted how the gunman was shot after the attempted assassination, while a member of the audience also lost their life and others were injured.
Trump dropped to the ground following the shot and clutched his ear as Secret Service agents rushed to protect him. He rose to clench his fist in the air while surrounded by the agents before they led him away to safety.
Steven Cheung, an official spokesperson from Trump’s campaign assured the public that he was unharmed and receiving medical treatment at a local facility, and noted to the public:
“President Trump thanks law enforcement and first responders for their quick action during this heinous act. He is fine and is being checked out at a local medical facility. More details will follow.”
The assassination attempt had an impact on prediction markets, with Ethereum-based prediction market Polymarket noting Trump’s odds of winning the upcoming election jumped from 60% to 68% following the incident, while President Joe Biden’s predicted odds of re-election fell from 30% to 15%. Trump is now the clear favourite to win the presidential election in November with overall odds of 70%. Biden has a 15% chance of winning, with Vice President Kamala Harris standing at 9%.
Have a great day.
Peace. CryptoGod-1.
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