MAGA Memecoin Soars As Donald Trump’s Chances of Winning Presidency Skyrocket on Polymarket

Presidential candidate Donald Trump survived an assassination attempt over the weekend, triggering a surge both in memecoins and his chances of winning the 2024 election.

According to crypto betting site Polymarket, Trump currently has a 72% chance of winning the presidency, while Biden only has an 18% chance of victory.

Since the assassination attempt, Trump’s chances have accelerated significantly.

At the same time, MAGA (TRUMP), the biggest Trump-inspired memecoin project on the market, is up 27% since the shooting and was at one point up 81%. TRUMP has since cooled off and is trading for $8.02 at time of writing.

Once a crypto skeptic, Trump has since pivoted on the technology, referring to himself as “the crypto president” and garnering the support of much of the industry.

A recent poll by investment firm Paradigm found that Trump’s pro-crypto stance is helping win over Republican voters, and that crypto and financial freedom was a priority for conservative voters in general this election.

Trump is himself a crypto holder with a public wallet address holding nearly $10 million in digital assets.

According to blockchain “de-anonymizer” Arkham, Trump’s Ethereum (ETH) wallet currently has $9.85 million worth of crypto – his largest holding being TRUMP tokens that the project gifted him.

Near the end of July, Trump is expected to attend the Bitcoin 2024 conference in Nashville, Tennessee as a speaker for the event’s 20,000 attendees.

Independent presidential candidate Robert F. Kennedy Jr. will also speak at the conference along with political commentator and comedian Russell Brand, ARK Invest CEO and founder Cathie Wood, MicroStrategy executive chairman Michael Saylor, former intelligence contractor turned whistleblower Edward Snowden and Miller Value Partners prospective chairman and CIO Bill Miller.

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