Former US President Donald Trump became the target of a failed assassination attempt while speaking at a rally in Butler, Pennsylvania. This shocking event immediately pushed the price of memecoins related to Mr. Trump, especially MAGA (TRUMP), to skyrocket more than 30%.
The incident occurred on July 13 at a rally in Butler, Pennsylvania, where Mr. Trump was giving a speech to the crowd. Several shots suddenly rang out from an unknown direction, causing Mr. Trump to duck his head to avoid it and secret service agents quickly rushed to protect him.
According to data from DexScreener, the price of memecoin MAGA (TRUMP) - the largest memecoin on the Ethereum platform related to Mr. Trump - skyrocketed from 6.31 USD to 10.36 USD within just 45 minutes after the incident. . The total market capitalization of this memecoin also increased from $293 million to $469 million during the same period.
Not only MAGA, some other memecoins also benefit from this event. Memecoin Tremp (TREMP) on the Solana platform increased over 63% within an hour after the news broke. Similarly, memecoin MAGA Hat (MAGA) also recorded an impressive 21% increase in the same time frame.
The price of memecoin MAGA skyrocketed after the assassination of former President Donald Trump. Source: DexScreener
Mr. Trump's representative said the former President is "fine" after the incident and is receiving medical treatment at a local facility. “Former President Trump thanked law enforcement and first responders for their timely actions during this horrific incident,” spokesman Steven Cheung said in a statement.
The failed assassination also had a strong impact on the market predicting the results of the 2024 US Presidential election. Data from Polymarket - a prediction platform on Ethereum - shows the odds of Mr. Trump winning the election. upcoming election increased from 60% to 68% immediately after the incident. In contrast, incumbent President Joe Biden's odds dropped sharply from 30% to 15%.
Currently, Mr. Trump is the brightest candidate on the prediction market with odds of up to 70%, far ahead of Mr. Biden (15%) and Vice President Kamala Harris (9%).
Trump's chances of being elected President increased by 8%. Source: Polymarket
Interestingly, Mr. Trump has previously expressed skepticism about cryptocurrencies, even calling Bitcoin a “scam”. However, his views have changed recently. During the election campaign, he repeatedly criticized Mr. Biden's tough policy on cryptocurrency and pledged to end the Biden administration's "war against cryptocurrency" if elected. He also affirmed that America must maintain its leading position in this industry.
Shooting just happened at The Trump rally pic.twitter.com/Xs1dVL1H3T
— Acyn (@Acyn) July 13, 2024
The failed assassination attempt on Mr. Trump was a shocking event, causing strong fluctuations in both the cryptocurrency market and US politics. The event showed Mr. Trump's great influence, while also raising concerns about security and division in American society.
