Maga Coin Spikes 48% After Trump Escapes Assassination Attempt: Analyst Predicts King Crypto\'s Pullback Before Rise To $63.8K-web3.0-php.cn

Maga Coin Spikes 48% After Trump Escapes Assassination Attempt: Analyst Predicts King Crypto\'s Pullback Before Rise To $63.8K

PHPz

Jul 18, 2024 am 08:39 AM

An attempt on the life of former President Donald Trump resulted in heightened volatility in the prices of Maga Coin TRUMP/USD, a coin inspired by him.

Maga Coin Spikes 48% After Trump Escapes Assassination Attempt: Analyst Predicts King Crypto's Pullback Before Rise To .8K

An assassination attempt on former President Donald Trump led to a spike in the price of Maga Coin (TRUMP/USD) on Saturday night.

The coin, which is named after Trump's "Make America Great Again" slogan, saw its price surge by 48% within hours of the news breaking.

The coin has been performing well this election year, with its price increasing by 30x year-to-date.

This is largely due to Trump's pro-cryptocurrency stance, which he has highlighted on several occasions during his campaign speeches.

In contrast, a coin themed around President Joe Biden, called JEO BODEN BODEN/USD, has seen its price decrease by 70% since its launch in March.

This disparity in performance could be attributed to the varying political leanings of cryptocurrency enthusiasts and the broader public.

While Trump is known for his support of cryptocurrencies and his efforts to make the U.S. a crypto-friendly destination, Biden's stance on cryptocurrencies has been less clear.

Moreover, Trump's acceptance of political donations in cryptocurrencies and his self-proclaimed status as the "crypto president" may have further contributed to the enthusiasm among cryptocurrency advocates.

According to Benzinga Pro, Maga Coin was trading at $7.60 at the time of writing, down 5.40% over the past 24 hours.

The coin had seen a 40% gain over the past week.

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