Trump-related Tokens Soar After Ex President Survived Shooting at Rally

Memecoins and NFTs related to Donald Trump skyrocketed in price and activity after the Republican presidential candidate was nearly assassinated at a rally on July 13.

After he was shot, Trump’s digital trading cards doubled to $400 up from $225, with a current floor price of $424, according to the Magic Eden marketplace. On OpenSea, activity took off with total sales totalling 132 after the incident, up from 12 the day prior. Trading volume in terms of amount transacted also spiked, with 16.5 ETH or $51,000 up from 1.5 ETH or $4,700.

Memecoins relating to the former President also moonshot after the incident. According to CoinGecko, TREMP shot up to $0.72 from $0.39, although it has since plummeted back towards its previous price, now changing hands for $0.46.

MAGA, the memecoin which alludes to the acronym of Make America Great Again, Trump’s campaign slogan, also soared. In the 12 hours after he was shot at, price went to a peak of $9.50 up from $6.30. Today, the price sits at $7.80, a 25% increase from the week prior.

Memecoin traders renowned for their irreverence and quick hilarity for naming tokens to trade appeared after Trump’s attempted assassination.

A token dubbed The Ear Stays On (EAR) went from non-existent to a $50 million market capitalization, although it has since plummeted down to $5 million today. The price has also fallen 45% today to $0.004, after peaking at $0.03.

Polymarket is also showing that traders are heavily favoring Trump as the next president of the U.S., with 72% of bets. His contender and current president Joe Biden reaches 18% of preferences.

Meanwhile, the main memecoin related to Joe Biden, dubbed BODEN, has been on a straight downward spiral since it scratched the $1 mark in early April. Although the token is up 6% today to $0.3, it has shed 80% of its value in the past month.

Cryptocurrency has become a central part in the race to become the next president of the United States. And not only in the form of speculative memecoins.

Donald Trump is now explicitly pro-crypto–although advocates wait with bated breath what he will do if elected–and will be attending next week’s Bitcoin2024 conference held in Nashville, Tennessee. Joe Biden, another former opponent of digital assets, has also been warming up to the industry, and his most recent interaction with crypto was to not veto a key piece of legislation that helps to build a friendlier regulatory sandbox in the country.