A failed assassination attempt on Donald Trump has sent shockwaves through crypto markets. The incident occurred during a rally in Butler, Pennsylvania on July 13, and now memecoins are the first to react to this.
Trump-themed memecoins saw significant price surges. MAGA (TRUMP) token jumped 52% in under an hour. Its market cap shot up from $293 million to $469 million. Someone is already cracking jokes on why don't we shoot them more often, though, of course, that sounds pretty rough.
Other Trump-related tokens also rallied. Tremp (TREMP) spiked 63%. MAGA Hat (MAGA) briefly rose 21%.
Prediction markets reacted swiftly. Trump's odds of winning the 2024 election increased from 60% to 68% on Polymarket. Biden's chances dropped from 30% to 15%. Right-wing warriors rejoice and call to arms, democrats are mostly silent, as if they already know the loss is inevitable.
Trump now leads with a 70% chance of victory. Biden trails at 15%, with Kamala Harris at 9%.
As for the crypto market, Trump is seen as a rather positive force, at least now.
He previously called Bitcoin a "scam". Now he's promising to end the "war on crypto" if elected. He even went as far as to promise new bright future for Bitcoin mining, and claimed every last Bitcoin must be mined in the U.S. to be 'made in the USA'.
Recent surveys show crypto's growing political influence. One in three US voters consider candidates' crypto positions. Another poll found 48% of crypto owners backing Trump, versus 39% for Biden.