Donald Trump memecoin soars after assassination attempt

The price of the largest Donald Trump memecoin MAGA (TRUMP) surged more than 30% following an assassination attempt on the former President while he was speaking on stage at a rally in Butler, Pensylvannia.

The Ethereum-based MAGA memecoin (TRUMP) spiked rapidly from a price of $6.31 to $10.36 immediately following the assassination attempt, seeing its total market capitalization jump from $293 million to $469 million in less than 45 minutes, per DexScreener data.

Trump was speaking on stage at a July 13 rally in Butler, Pennsylvania when several shots were fired from an unknown direction in the crowd.

Trump clutched his ear as shots sounded and dropped to the ground as his security detail rushed to protect him.

Shooting just happened at The Trump rally pic.twitter.com/Xs1dVL1H3T

— Acyn (@Acyn) July 13, 2024

The gunfire incident occurred just as Trump accepted cryptocurrency as part of his 2024 presidential campaign, with notable companies and individuals in the cryptocurrency industry pledging their support.

However, it’s noteworthy that not everyone in the cryptocurrency community supports Trump. Arthur Hayes, co-founder of BitMEX, recently criticized Trump’s courting of the cryptocurrency community, likening his skepticism to Malcolm X’s comments during the 1964 U.S. presidential race about politicians supporting issues and topics based on vote-getting opportunities.

Trump has pledged to loosen cryptocurrency regulations if re-elected, and the Republican National Committee has adopted a pro-crypto platform. Earlier this month, former President Donald Trump confirmed his participation as a speaker at a Bitcoin conference in Nashville, emphasizing his support for the cryptocurrency industry.

This incident may attract more support from cryptocurrency enthusiasts while also raising concerns about security at increasingly polarized political events during an election season.