Donald Trump-themed memecoins soar 60% following his assassination attempt
What's the story
Following an assassination attempt on former US President Donald Trump, leading Trump-themed memecoins saw a significant surge in value. The price of MAGA spiked over 30%, up from $6.31 to trade at $10.36 within minutes of the incident, boosting its market cap from $293 million to $469 million. Other Trump-related memecoins also experienced substantial gains in the wake of the attack. While Solana-based Tremp (TREMP) soared 63% within an hour, MAGA Hat (MAGA) was up 21%.
Market impact
Ripple effect on other markets
The assassination attempt on Trump had a ripple effect on other markets as well. A Chinese company, phonetically associated with "Trump Wins Big" in Mandarin, saw its shares surge following Trump's supportive remarks about cryptocurrencies. In South Korea, defense and nuclear energy stocks experienced increased demand due to expectations of a potential Trump re-election benefiting these sectors.
Information
Bitcoin's value rises following attempt on Trump's life
Bitcoin, the leading cryptocurrency, also experienced a surge following the assassination attempt on Trump. It rose 8.6% to $62,508 and touched a two-week high of $62,698, highlighting another example of how the incident influenced market dynamics across various sectors.