The MAGA (TRUMP) meme coin, based on former U.S. president Donald Trump, saw a spectacular surge of 47% within 24 hours, in the wake of an assassination attempt on him during an election rally in Pennsylvania on Saturday.
The assassination attempt on Trump left him bleeding even as a spectator succumbed to bullet injuries and security forces shot down the alleged shooter during the election rally.
Following the news break, the crypto markets went whizzing with several cryptocurrencies including Bitcoin and MAGA (TRUMP) coin seeing sporadic jumps. The Ethereum-based MAGA token jumped from $6.2 to $9.2 in less than a few hours, with its market capitalization surging from $293 million to $410 million.
In the wake of the upcoming U.S. presidential elections, Trump has fiercely advocated for crypto users and has vouched to keep their bitcoins “safe” if chosen to power. Trump has also asked for U.S. to be the hub for bitcoin mining. An estimated 50 million voters in the U.S. hold crypto assets and their vote swing could be crucial in deciding the next American president.
Following the attack on him, several celebrities including tech mogul Elon Musk have openly endorsed Trump thereby boosting his chances for the upcoming elections.
Also Read: Bitcoin Surges to $60K Following Trump’s Assassination Attempt
