After the Assassination, the Price of the Trump Memecoin MAGA Rose by +40%
Contributor
- Former US President Donald Trump survives assassination attempt.
- Trump memecoin Maga surges 40.81%.
The US political scene is getting chaotic as the elections are four months away. Former President Donald Trump has been considered many’s favorite for the presidency for months. Unfortunately, his campaign was marred by violence on July 14 when someone tried to take his life.
The former president was shot at at a political rally in Pennsylvania. The gunshots could be heard, and while he was addressing his supporters, shots were fired.
Fortunately, the Secret Service reacted quickly and escorted him off the stage. After the incident, his left ear and head were seen covered in blood.
These events have provoked different reactions from politicians and the crypto community. For example, crypto analyst and trader Michael van de Poppe reacted to the news linking politics and crypto. On page x, he stated:
“Trump raises his fist after an assassination attempt was made on him. The world is falling apart. From today on, #Bitcoin has very likely become a political statement.”
Likewise, crypto markets reacted immediately after the incident.
First of all, Trump meme coin MAGA rose 40.81% on the daily charts after the assassination attempt.
MAGA’s trading volume increased 835.01% to $39 million during the same period. According to Coinmarketcap, MAGA was trading at $8.76 at the time of writing, with its market cap up 40% to $385 million.
Source: Coinmarketcap
Trump’s pro-crypto campaign
Despite being a long-time crypto critic, Trump has changed his mind and become the US’s first pro-crypto presidential candidate. During his time in the White House, he was heavily critical of cryptocurrencies, arguing that the dollar is the only global currency.
However, with the increasing number of crypto voters, Trump changed his stance and started accepting crypto donations for his election campaign.
In his recent remarks, he argued that BTC should be a strategic reserve asset while promoting BTC mining only in the US. Therefore, a Trump election victory would make him the first US president who is pro-cryptocurrency.
The failed assassination attempt has increased Trump’s chances of winning the election. The US will have the first pro-crypto president if the political scene remains unchanged.
According to investor WclementeIII, Trump’s chances are increasing. He shared this on his X page, stating that
“Trump’s odds of winning in November are skyrocketing on prediction markets.”
Source: X
Trump’s criticism of US anti-crypto laws
On the contrary, the Biden administration has ignored the crypto community’s demands and increased prosecutions of crypto companies by the SEC.
Trump has used this indifference as leverage, promising to end “Biden’s hatred of crypto.”
Over the past three months, he has raised concerns with the current administration regarding crypto, making him a staunch critic of Biden’s crypto policies.
