In a dramatic turn of events, the largest Donald Trump memecoin, MAGA (TRUMP), skyrocketed over 50% following an assassination attempt on the former U.S. president at a rally in Butler, Pennsylvania. The Ethereum-based MAGA memecoin surged from $6.31 to $10.36 shortly after the incident, pushing its market capitalization from $293 million to $469 million in under 45 minutes, according to DexScreener data.
Other Trump-themed memecoins also experienced significant gains. Solana-based memecoin Tremp (TREMP) jumped more than 63%, while MAGA Hat (MAGA) saw a 21% spike within the same timeframe.
The shocking event occurred on July 13, when Trump was addressing a crowd at a Butler rally. Several shots were fired from an unknown direction, prompting Trump to clutch his ear and drop to the ground. US Secret Service agents swiftly moved in to protect him. Despite the chaos, Trump paused to raise his fist and shout to the crowd while being escorted off stage.
A campaign spokesperson confirmed Trump was “fine” and receiving medical attention. “President Trump thanks law enforcement and first responders for their quick action during this heinous act,” said Steven Cheung. “He is fine and is being checked out at a local medical facility. More details will follow.”
The assassination attempt also influenced the prediction markets. On Polymarket, Trump’s odds of winning the upcoming election surged from 60% to 68%, while President Joe Biden’s chances dropped from 30% to 15%. Trump now leads the prediction market with a 70% chance of victory, compared to Biden’s 15% and Vice President Kamala Harris’s 9%.
Trump’s stance on cryptocurrencies has evolved recently. Despite previously labeling Bitcoin as a scam, he has softened his view. On June 14, Trump vowed to end the Biden administration’s “war on crypto” if elected president. This pledge follows his May 26 criticism of Biden’s approach to the crypto industry, asserting that the U.S. should aim for global leadership in this sector.
Get exclusive insider access to daily market intel reports across web3 –lifetime NFT access.