Meme Coin MAGA Surges 35% as Elon Musk “Fully” Endorses Donald Trump for President After Assassination Attempt
MAGA (TRUMP) surged more than 35% after an assassination attempt on Donald Trump and Elon Musk says that he “fully” endorses the former President.
TRUMP saw a rapid price increase from $6.31 to $10.36 immediately after the attempt, with its total market capitalization jumping from $293 million to $469 million in less than 45 minutes, according to data from DexScreener. It has since corrected to trade at $8.46 at press time.
TREMP and MAGA Prices Spike Shortly After the Incident
Several other Trump-themed meme coins also rallied on the news. Solana-based token Tremp (TREMP) jumped more than 63% in the hour following the incident, while another meme coin dubbed MAGA Hat (MAGA) briefly spiked 21% within the same timeframe.
Also read: Political Meme Coins Drop 4% After Joe Biden Calls Zelensky “President Putin”
This comes after several shots were fired from an unknown direction while Trump was addressing the crowd at a July 13 rally in Butler, Pennsylvania. Witnesses reported that Trump clutched his ear as the shots rang out and dropped to the ground. His security detail then rushed to protect him. In a show of defiance, Trump asked his security detail to pause while he raised his fist and shouted at the crowd before being whisked off stage.
An official spokesperson from Trump’s campaign told the Associated Press that the former President was “fine” following the incident and was undergoing medical treatment at a local facility.
“President Trump thanks law enforcement and first responders for their quick action during this heinous act,” spokesman Steven Cheung said in a statement. “He is fine and is being checked out at a local medical facility. More details will follow,” the spokesperson added.
Elon Musk Says He Fully Endorses Donald Trump
“I fully endorse President Trump and hope for his rapid recovery,” tech billionaire Elon Musk said in a July 14 X post.
Musk also questioned whether the incident happened due to “extreme incompetence” or whether it was a “deliberate” attempt.
In an earlier post, the Tesla and SpaceX founder shared a video of an eye witness telling a BBC reporter that he was ignored by police and the Secret Service when he warned them of a suspicious man on the roof with a rifle. Musk subsequently called for the resignation of the head of the Secret Service as well as the leader of Trump’s security detail.
Musk is not the only one that is endorsing Trump following the incident. Speculators on the Ethereum-based prediction market Polymarket were quick to place their bets, with Trump’s odds of clinching a victory in the upcoming election jumping from 60% to 68% immediately following the assassination attempt.
Current President Joe Biden’s predicted odds of winning the election fell sharply, dropping from 30% to 15% in the same timeframe. Trump now stands as the clear favorite nominee on the prediction market, with overall odds of 70%, compared to 15% for Biden and 9% for Vice President Kamala Harris.
