Following the assassination try in opposition to US Presidential candidate Donald Trump final weekend, Bitcoin and altcoin costs began to rise.
Whereas BTC rose above $65,000, the memecoin named Trump additionally elevated by greater than 80%.
Along with the unsuccessful assassination try in opposition to Trump, Elon Musk’s open help for Trump additionally performed an necessary function on this rise within the memecoin named Trump (MAGA).
Whereas MAGA grew to become probably the most trending altcoin amongst cryptocurrencies due to Elon Musk’s help for Trump, Santiment acknowledged that he expects massive fluctuations in memecoins related to Trump to proceed because the US elections method.
“MAGA is the highest trending token in crypto, thanks to what’s extensively perceived within the crypto group as Elon Musk’s open help for Donald Trump.
Meme cash related to the presidential candidate have been in flux since final weekend’s surprising occasions. “We anticipate massive swings to proceed as we get nearer to U.S. election time.”
MAGA, which began to rise final Saturday and reached over $ 11, returned to the identical ranges and continues to be traded at $ 6.3 on the time of writing.
🇺🇸 Due to what the crypto group extensively perceives to be Elon Musk’s clear help of Donald Trump, MAGA is the highest trending token in crypto. The worth is up a modest +11% since bottoming out 5 hours in the past.
Meme cash which are related to the presidential candidate… pic.twitter.com/msGdcIUfJO
— Santiment (@santimentfeed) July 19, 2024
*This isn’t funding recommendation.