Trump Meme Coins Surge After Shooting Incident

Former US President Donald Trump was the target of a shooting during his campaign in Pennsylvania, leading to a surge in Trump-related meme coins like TREMP. The incident occurred at a rally in Butler, where Trump was hit in the back of the head, with a bullet piercing his right ear, causing significant bleeding. Secret Service agents quickly evacuated Trump and rushed him to a medical facility.

Despite the seriousness of the situation, Trump managed to pump his fist defiantly as he was led to his motorcade. The incident resulted in the death of one rally attendee and the suspected gunman, with two others critically injured. Steven Cheung, Trump’s spokesman, confirmed that Trump was “doing well” and being examined. Trump also expressed his gratitude to the US Secret Service and law enforcement on his Truth Social page.

“Most importantly, I want to extend my condolences to the family of the person at the rally who was killed, and also to the family of another person that was badly injured. It is incredible that such an act can take place in our country. […] I knew immediately that something was wrong when I heard a whizzing sound and shots, and I immediately felt the bullet. Much bleeding took place. God bless America!” he stated.

The attack on Trump elicited strong reactions from public figures. Elon Musk, CEO of Tesla and SpaceX, expressed his support for Trump, hoping for his speedy recovery. President Joe Biden condemned the violence as “sick” and praised the swift evacuation.

The crypto market reacted significantly to the incident. Several Trump-related meme coins saw substantial increases in value following the assassination attempt. This spike reflects the crypto community’s response to Trump’s political saga.

Trump’s candidacy for the upcoming election has garnered significant attention from the crypto community due to his recent support for the industry. Data from the prediction platform Polymarket shows that Trump’s chances of winning have risen to 70%, while Biden’s have risen to 16%. However, Trump’s stance on cryptocurrencies has changed over time. In July 2019, he criticized Bitcoin and other digital currencies, calling them “not money” and highlighting their volatility. This shift raises questions about his sincerity and potential policy changes.

Arthur Hayes, founder of the BitMEX crypto exchange, offered a critical perspective on Trump’s changing position. Hayes suggested Trump’s new support for cryptocurrencies is politically motivated to attract young, politically active, and financially influential crypto voters in key states.

In conclusion, the shooting incident involving Trump not only stirred public and political reactions but also significantly impacted the crypto market. The surge in Trump-related meme coins highlights how political events can affect financial markets. As Trump continues his campaign, the crypto community will closely watch his actions, and the market is likely to remain highly responsive to such events.