Meme Coins Rally Following Trump’s Assassination Attempt

Meme coins experienced a significant surge shortly after US presidential candidate Donald Trump survived an assassination attempt at a campaign rally in Pennsylvania.

Trump-related Meme coins soar

The meme coin MAGA (TRUMP) has seen a remarkable increase of over 50% in the last 24 hours. Meanwhile, other popular meme coins such as DOGE and SHIB have also risen, albeit more modestly, with 2% and 1% increases, respectively. As it stands, TRUMP remains the best performer among them.

Source: CoinGecko

TrumpCoin (DJT), a meme coin allegedly created by Martin Shkreli for Trump and his son Barron, has also risen nearly 6% in the past day. This surge highlights the market’s reaction to the dramatic events surrounding Trump’s campaign.

New Meme coins inspired by the incident

The attempted shooting has also sparked the creation of new meme coins. Social media, particularly Twitter, has been abuzz with rumors suggesting that Joe Biden was behind the assassination attempt, referencing his previous comments about targeting Trump. These speculations have fueled the launch of various new meme coins.

Source: Polymarket

In his official statement, Biden expressed relief that Trump survived the incident and stated that he was praying for Trump and others affected. The political betting market reacted sharply to these developments. On Polymarket, bets on Trump winning the election have surged to 70%, while Biden’s odds have dropped to 16%.

Crypto community reacts

An interesting revelation from the crypto community is that the shooter, identified as Matthew Crooks, appeared in a BlackRock commercial last year. BlackRock, known for its crypto-friendly stance, recently launched its spot Bitcoin ETF.

Following the news of the assassination attempt, BTC increased by over 2%, briefly touching the key resistance level of $60,000. At the time of writing, Bitcoin was valued at $59,709.

The rapid increase in meme coins following Trump’s survival underscores the volatile nature of the crypto market and its susceptibility to political events. The surge in Trump’s betting odds also reflects the significant impact of the incident on public perception and political sentiment.

The meme coin rally, particularly the performance of MAGA (TRUMP) and TrumpCoin (DJT), highlights the ongoing influence of Trump’s persona in the crypto world. As the election campaign progresses, market observers will likely continue to monitor the intersection of political events and cryptocurrency trends.

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