Following the assassination attempt against US Presidential candidate Donald Trump last weekend, Bitcoin and altcoin prices started to rise.
While BTC rose above $65,000, the memecoin named Trump also increased by more than 80%.
In addition to the unsuccessful assassination attempt against Trump, Elon Musk's open support for Trump also played an important role in this rise in the memecoin named Trump (MAGA).
While MAGA became the most trending altcoin among cryptocurrencies thanks to Elon Musk's support for Trump, Santiment stated that he expects large fluctuations in memecoins associated with Trump to continue as the US elections approach.
“MAGA is the top trending token in crypto, thanks to what is widely perceived in the crypto community as Elon Musk’s open support for Donald Trump.
Meme coins associated with the presidential candidate have been in flux since last weekend's shocking events. “We expect large swings to continue as we get closer to U.S. election time.”
MAGA, which started to rise last Saturday and reached over $ 11, returned to the same levels and continues to be traded at $ 6.3 at the time of writing.
🇺🇸 Thanks to what the crypto community widely perceives to be Elon Musk's transparent support of Donald Trump, MAGA is the top trending token in crypto. The price is up a modest +11% since bottoming out 5 hours ago.
Meme coins that are associated with the presidential candidate… pic.twitter.com/msGdcIUfJO
— Santiment (@santimentfeed) July 19, 2024
*This is not investment advice.
