Memecoins
Trump assassination attempt sends price of associated memecoins soaring
The failed assassination attempt on former US President and 2024 presidential candidate Donald Trump has caused the price of Trump-related memecoins to surge. At the same time, his chances of winning this year’s presidential election have skyrocketed on prediction market Polymarket.
MAGA (TRUMP), the largest Trump-related memecoin by market cap, rose 30% immediately after the incident. Its price jumped from $6.31 to $10.36, increasing its market cap by hundreds of millions, from $293 million to $469 million. This market cap change occurred within 45 minutes of the assassination attempt.
Many other Trump-dedicated memecoins also saw their values surge, with Tremp (TREMP), a memecoin on Solana, rising over 60% in the hour following the horrific event. MAGA Hat (MAGA) rose over 20% in the same period.
“Polymarket”Winner of the 2024 presidential election Trump’s chances of winning the election jumped to 68% right after the event. His chances had been 60% before. While Trump’s chances increased, Biden’s dropped. They went from 30% to 15%.
The assassination attempt failed on July 13 while Trump was speaking at a rally in Butler, Pennsylvania. Several shots were fired at him from outside the venue. Trump fell to the ground as the gunfire rained down on him, and several Secret Service agents rushed to provide cover.
Trump was rushed to a medical facility shortly after the rally, and his campaign released a statement saying he was “fine.” The shooting left one person dead at the rally, with the shooter also shot dead by the Secret Service.
In a job On Truth Social, Trump said, “Most importantly, I want to offer my condolences to the family of the person who was killed at the rally, as well as the family of another person who was seriously injured.” He added, “I was shot through the top of my right ear.”