Donald Trump Memecoins After The Assassination Attempt: What's The Status?

Several Trump-themed memecoins gained value following the assassination attempt during the former president's speech at a rally in Butler, Pennsylvania.

The largest Donald Trump-themed memecoin, MAGA (TRUMP), increased in value following the assassination attempt on the former president while he was speaking on stage at a rally in Pennsylvania.

The Ethereum-based MAGA memecoin (TRUMP) quickly rose from $6.31 to $10.36 immediately after the assassination attempt. According to DexScreener data, its total market value surged from $293 million to $469 million within just 45 minutes.

Price increases were also observed in other Trump-themed memecoins.

The Solana-based memecoin Tremp (TREMP) gained over 63% within an hour following the news. Similarly, another memecoin named MAGA Hat (MAGA) experienced a brief surge of 21% during the same period.

On July 13, while Donald Trump was speaking on stage at a rally in Butler, Pennsylvania, shots were fired from an unknown direction within the crowd. Reacting to the gunfire, Trump covered his ears and fell to the ground as security personnel rushed to protect him.

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

— Acyn (@Acyn) July 13, 2024

Trump, as he was being escorted off the stage by security personnel, raised his fist and shouted to the crowd, urging them to stop.

Trump's spokesperson, Steven Cheung, stated, "President Trump thanks the law enforcement and first responder teams who acted swiftly during this heinous act. He is in good condition and being checked at a local health facility. Further details will be provided."

Additionally, Trump's election odds have increased on the Ethereum-based prediction market Polymarket. According to Polymarket data, the likelihood of Trump winning the upcoming election rose from 60% to 68% immediately following the assassination attempt.

Current President Joe Biden's probability of winning the election has decreased, dropping from 30% to 15% within the past hour. Compared to Biden's odds of 15% and Vice President Kamala Harris's odds of 9%, Trump's current 70% chance on the prediction market highlights him as the clear favorite.

Previously skeptical of cryptocurrencies and labeling Bitcoin as "a scam," Trump has significantly changed his stance on digital assets in recent months. On June 14, Trump stated that if elected, he would end the Biden administration's "war on crypto." This was not the first time Trump criticized Biden's tough stance on cryptocurrencies during his campaign; on May 26, he had targeted Biden for not aiming higher in the U.S. crypto industry.

You can stay updated on cryptocurrency market developments and the latest news at Kriptospot.com.