Trump’s election odds and several Trump memecoin surged following an assassination attempt on the former president during a rally in Butler, Pennsylvania.
The price of the largest Donald Trump memecoin, MAGA (TRUMP), soared over 30% after the incident. The Ethereum-based MAGA memecoin jumped from $6.31 to $10.36, raising its total market capitalization from $293 million to $469 million in less than 45 minutes, according to DexScreener data.
Source: DexScreener
The price of other Trump memecoins also shot up following the news.
Solana-based memecoin Tremp (TREMP) surged over 63% within an hour, while another memecoin called MAGA Hat (MAGA) spiked 21% briefly during the same period.
Trump was on stage at a rally in Butler, Pennsylvania, on July 13, when several shots were fired from an unknown direction in the crowd. Trump clutched his ear as the shots rang out and dropped to the ground while his security detail rushed to protect him.
While being quickly taken off the stage by his security team, Trump paused, raised his fist, and shouted to the crowd.
A spokesperson from Trump’s campaign told the Associated Press that the former President is “fine” following the incident and is receiving 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.”
Trump’s Election Odds Surge on Polymarket
Speculators on the Ethereum-based prediction market Polymarket quickly placed their bets, causing Trump’s election odds to jump from 60% to 68% after the assassination attempt, according to Polymarket data.
Source: Polymarket
At the same time, current President Joe Biden’s odds of winning fell from 30% to 15%.
Trump is now the clear favorite on the prediction market, with overall odds of 70% compared to 15% for Biden and 9% for Vice President Kamala Harris.
Trump, who used to be skeptical of cryptocurrencies and even called Bitcoin a “scam” several times, has recently changed his stance on digital assets.
On June 14, Trump announced that he would end the Biden administration’s “war on crypto” if elected President.
This isn’t the first time Trump has criticized Biden’s approach to crypto. On May 26, he stated that the U.S. should strive to lead in the crypto industry and not settle for anything less.
