As a seasoned financial analyst with over two decades of experience in the stock market and cryptocurrencies, I have witnessed countless events that have shaped the financial landscape. The recent price movements in Bitcoin and Trump-related meme coins are no exception.
Bitcoins are currently trading at their highest point in the past 12 days, while the majority of leading cryptocurrencies exhibit positive trends. In contrast, coins associated with memes featuring former US President Donald Trump experienced a decline during the previous 24-hour period.
The price of the MAGA token is currently at $7.54, representing a decrease of approximately 3.3% in the last 24 hours. Similarly, the Never Surrender token has experienced a significant drop, losing over 26% of its value during the same timeframe. Yet, if we examine their performance over a longer duration, these meme coins present a contrasting narrative.
In the past week, the value of MAGA tokens has risen by 35%, whereas Never Surrender tokens have experienced an astonishing increase of over 250%. This signifies that both tokens are currently experiencing a surge in price, and the current dip is merely a brief correction amidst their persistent upward trend.
Notable is the fact that this rally for Trump began following the shocking assassination attempt against him during a campaign event in Pennsylvania on July 13. At a rally in Butler, the presidential candidate was unexpectedly struck at the back of his head. The bullet barely missed his right ear, resulting in substantial bleeding instead.
In a flash, the situation grew tumultuous as Secret Service agents interceded, hastily ushering Trump away from the stage and toward a nearby medical center.
In spite of the grave circumstances, Trump boldly displayed a show of defiance. As he was being escorted from the scene, he raised his fist in a triumphant gesture to the onlookers. The incident tragically claimed the lives of one rally participant and the suspected shooter, while leaving two others severely injured.
A Rise in Trump’s Support
The foiled assassination attempt has sparked a significant increase in popular backing for Trump. Many people have shown their solidarity with him, and this includes prominent figures such as Elon Musk, the CEO of Tesla and SpaceX. Musk has openly expressed his support and has wished Trump a swift recovery.
Significantly, the incident seems to have boosted Trump’s popularity in recent surveys and bettings, raising his chances of securing the 2024 presidential election from approximately 65.2% to currently 73.3%.
As a researcher, I’ve noticed an intriguing shift in Donald Trump’s perspective towards the crypto industry. Previously known for his criticism, Trump has more recently expressed a different viewpoint. The reason behind this transformation – whether it stems from a sincere change of heart or a strategic political move to appeal to a younger demographic – is a subject of ongoing debate. Despite the speculation, one thing is certain: the crypto community has begun to view Trump in a more favorable light.
As a researcher studying the relationship between political events and cryptocurrency markets, I’ve observed that Trump’s rising prospects for winning the presidency have had a positive influence on the broader digital currency market. Specifically, Bitcoin experienced a 4% surge early Monday, reaching a new peak of $62,800. Likewise, Ether demonstrated a noteworthy increase of approximately 5%, trading at around $3,356 as I pen down these findings.
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2024-07-15 11:19