Memecoins
Trump survives assassination attempt
- Former US President Donald Trump survives assassination attempt.
- Trump-themed memecoin Maga surges 40.81%.
The American political scene is increasingly confused four months before the election. Former President Donald Trump has been the favorite of many to take over the presidency for months. Unfortunately, his campaign was marred by violence on July 14, when an individual attempted suicide.
The former president was shot at during a political rally in Pennsylvania. Gunshots were heard and gunfire erupted as he addressed supporters.
Fortunately, the secret service responded quickly and got him out of the scene. After the incident, he was seen covered in blood on his left ear and head.
These events have sparked mixed reactions from politicians and the crypto community. For example, crypto analysts and traders Michael van de Poppe reacted to the news linking politics and crypto. On page x, he stated that,
“Trump raised his fist after an assassination attempt on him. The world is falling apart. As of today, #Bitcoin has become a political statement, most likely.”
Trump MAGA memecoin soars
Likewise, cryptocurrency markets reacted immediately after the incident.
For starters, Trump-themed meme coin MAGA surged 40.81% on daily charts following the assassination attempt.
MAGA’s trading volume surged 835.01% over the same period to $39 million. At the time of writing, MAGA was trading at $8.76 with a 40% increase in market cap to $385 million, according to Coinmarketcap.
Source: Coinmarketcap
Trump’s Pro-Crypto Campaign
Although he has long been critical of cryptocurrencies, Trump has changed his tune to become the first pro-cryptocurrency presidential candidate in the United States. During his time in the White House, he has shared serious criticism of cryptocurrencies, claiming that the dollar is the only global currency.
However, with the increase in crypto voters, Trump changed his stance and started accepting crypto donations for his campaign.
In his latest remarks, he claimed that Bitcoin should be a strategic reserve asset while promoting Bitcoin mining only in the United States. Therefore, a Trump election victory would make him the first US president to be pro-cryptocurrency.
The failed assassination attempt has increased Trump’s chances of winning the election. The United States will have the first pro-crypto president if the political scene remains unchanged.
According to the investor Wclemente IIITrump’s chances are increasing. He shared this on his X page, stating that,
“Trump’s odds of winning in November are skyrocketing in prediction markets.”
Source: X
Trump criticizes US anti-crypto laws
On the contrary, the Biden administration has ignored calls from the crypto community by stepping up prosecutions of crypto companies by the SEC.
Trump used this indifference as leverage and promised to end “Biden’s hatred of crypto.”
Over the past three months, he has expressed concerns about the current administration regarding crypto, making him a vocal critic of Biden’s crypto policies.