Donald Trump memecoin MAGA (TRUMP) surges 60% following assassination attempt Read CoinChapter.com on Google News
NAIROBI (CoinChapter.com) — The price of Donald Trump-themed memecoin, MAGA (TRUMP), surged more than 60% following an assassination attempt on the former United States president while he was speaking on stage at a rally in Butler, Pennsylvania.
The dramatic event on July 13 led to volatility in Trump-themed cryptocurrencies, particularly the Ethereum-based MAGA memecoin.
Trump Survives Assassination Attempt
The assassination attempt occurred as Donald Trump addressed the crowd in Butler. Several shots were fired from an unknown direction, causing Trump to clutch his ear and drop to the ground. US Secret Service agents swiftly shielded him and whisked him off the stage.
Despite the chaos, Trump raised his fist and shouted toward the crowd before his security detail led him away.
President Biden expresses relief that Trump is safe after the rally shooting. Source: X
An official spokesperson from Trump’s campaign informed the Associated Press that the former president was “fine” following the incident and was receiving medical treatment at a local facility. Steven Cheung, Trump’s spokesman, stated,
“President Trump thanks law enforcement and first responders for their quick action during this heinous act. He is fine and is being checked out at a local medical facility.“
Additionally, President Joe Biden commented on the incident, expressing relief that Trump was safe and condemning the act of violence.
MAGA (TRUMP) Price Forecast: Analysts Predict $37 Target
According to DexScreener data, MAGA’s price spiked rapidly from $6.31 to $10.36 immediately after the incident. This surge saw its total market capitalization jump from $293 million to $469 million in less than 45 minutes.
Currently, the price has retraced to $9.38, reflecting a 50.48% increase in one day. It has a market cap of $385,498,133 and a 24-hour trading volume of $42,678,196.
TRUMP/USD price chart. Source: TradingView
The TRUMP/USD 1-day price chart shows a sharp increase in trading volume, indicating heightened investor interest. The Relative Strength Index (RSI) is at 59.76, suggesting room for further upward movement despite approaching overbought territory.
The Awesome Oscillator (AO) reflects positive momentum, turning green after a prolonged period of red bars. This signals a potential continuation of the upward trend. If MAGA (TRUMP) maintains its bullish momentum, it could test the resistance level at $12.00. However, failure to sustain this momentum may see the price consolidate around the $8.00 support level.
MAGA price chart.
Crypto analyst Crypto Catalysts highlighted the significant increase in trading volume and predicted further gains for MAGA. According to Crypto Catalysts’ chart analysis, the next price target for MAGA is $37.43.
Another analyst, McKenna, predicted a significant rise in the Donald Trump-themed token, stating it will reach at least $20 with election season approaching. McKenna also asserted that surviving an assassination attempt positions TRUMP to potentially hit $100, deeming it the “ultimate white swan.”
Trump’s Election Odds Soar on Polymarket
Speculators on the Ethereum-based prediction market Polymarket placed their bets, according to Polymarket data. Trump’s odds of clinching a victory in the upcoming election jumped from 60% to 68% immediately after the assassination attempt.
Trump’s odds of being elected president spiked by 8%.
Meanwhile, President Joe Biden’s predicted odds of winning reelection fell from 30% to 15%. Trump now stands as the clear favorite on the prediction market, with overall odds of 70% compared to just 15% for Biden and 9% for Vice President Kamala Harris.
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