In the past two days, the news of Trump's assassination attempt has swept the entire Internet and become the focus of attention of netizens around the world.
Trump's "failed assassination attempt" not only made his campaign situation very good, but also led to a short-term prosperity in a series of surrounding industries, including the cryptocurrency field.
After the incident, the meme coins related to it in the market showed a large range of fluctuations, while tokens and NFTs surrounding the Trump theme achieved a large-scale increase.
Trump was really win big when he shouted "fighter" when he was shot...
As usual, let us first review the cause of the incident.
On July 14, Trump was shot at a campaign rally in Pennsylvania. He was shot in the head just as he finished his speech. Fortunately, the bullet went through his right ear and was not life-threatening. Later, it was found that it was caused by a fragment of the teleprompter.
It is undeniable that Trump is a natural traffic king. Even when facing life threats, he never forgets to canvass for votes. During the retreat under the cover of security, Trump raised his right fist and shouted "fight", and the picture with the American flag flying quickly spread all over the Internet. In other words, the enemy's assassination attempt has increased Trump's chances of being elected. Many insiders have made it clear that this shooting will have a huge impact on this election.
After the shooting, Biden's side said it would suspend its activities for a while, but Trump took an unconventional approach and faced the challenge, saying he would continue his campaign. Although there is no specific data to support this, both the Democratic Party and the Republican Party believe that Trump's election is a foregone conclusion.
I have to say that Trump has win big with this move.
Meme coin TRUMP took off with the momentum! It rose 40% in half an hour to a record high.
The shooting incident not only boosted Trump's upcoming campaign prospects, but also boosted the related meme coin industry.
After the incident, MAGA (TRUMP) rose by more than 40% in half an hour, and MAGA (MAGA) rose by more than 35%. However, as of July 15, the prices of the two major tokens have fallen back, but this still cannot stop the enthusiasm of "theme meme coins" to rush in. Most of the protagonists of this wave belong to the category of PoliFi.
PoliFi, a hybrid word similar to DeFi, refers to tokens that combine politics, finance, and community. Various meme coins related to Trump are the most representative and experimental examples of PoliFi.
As of the afternoon of July 15, according to the PoliFi ranking sorted by CoinMarketCap's certified market value, the top 10 tokens are MAGA (TRUMP), MAGA (MAGA), Super Trump Coin (STRUMP), MAGA VP (MVP), Baby Trump (BSC) (BABY TRUMP), BABY TRUMP (BABY TRUMP), Make America Based Again (MABA), TrumpCoin (DJT), Doland Tremp (TREMP), Jeo Boden (BODEN) . Among them, MAGA (TRUMP) rose 39.42% in 7 days and fell 16.94% on the day; MAGA (MAGA) rose 10.23% in 7 days and fell 16.98% on the day.
From this, it is not difficult to find that in the PoliFi token sector, Trump-themed tokens occupy almost the entire field. After the attack, newly deployed Trump-themed tokens such as EAR and FIGHT also rose significantly. As of the afternoon of July 15, according to dexscreener data, FIGHT's FDV (full circulation market value) reached 15.3 million US dollars; EAR's 6-hour increase reached 32.51%; at the same time, Trump's NFT "Trump Digital Trading Cards" The first series of floor prices experienced a new high of 933 MATIC (about 502 US dollars) and is now reported at 422.15 US dollars, up 121.59% on the 7th.
Investing in meme coins is actually investing in community consensus and surrounding benefits, and it should be operated based on the principle of attention economy. Trump has become a frequent guest in the news cycle due to his participation in the US presidential election, so he will continue to exist in the media, which is also the reason why the related PoliFi coin can be active for a long time. It is worth mentioning that this type of token is greatly affected by news and election progress, and for this reason, investors need to pay close attention to the relevant agenda reported by the media.
In addition to this shooting, the live televised debate between Biden and Trump on June 27 local time is also a good example.
As soon as the debate between the two candidates began, meme coins experienced significant market price fluctuations: tokens such as Super Trump Coin (STRUMP), MAGA (TRUMP), MAGA (MAGA), and Doland Tremp (TREMP) all fell to varying degrees.
Back to May 31, a New York jury found Trump guilty of all 34 charges. Trump was accused of falsifying business records, becoming the first former US president to be convicted. Subsequently, meme coins reacted, MAGA (TRUMP) plummeted in the short term and then rebounded sharply; FreeTrump (TRUMP) soared 592.5%; other related coins such as MAGA Hat (MAGA), Super Trump (STRUMP) and MAGA VP (MVP) all fell by 10% to 25%.
Trump is friendly to cryptocurrencies? Will the crypto world welcome an open-minded president?
There is another very important reason why Meme coin could be instantly ignited by Trump’s good news: Trump himself has a relatively friendly attitude towards cryptocurrency.
You know, the current President Biden is not very supportive of cryptocurrencies. During Biden's tenure, the SEC repeatedly launched heavy-handed "robbery", resulting in many crypto projects being fined sky-high prices. In fact, the cryptocurrency field does not expect the future president to support this industry, but at least expects a relatively open-minded president to take office.
Trump has demonstrated his friendly attitude towards cryptocurrencies on many occasions.
According to Reuters, Trump delivered a speech at the 2024 Bitcoin Conference and portrayed himself as a cryptocurrency advocate at a San Francisco fundraising conference in June, criticizing the Democratic Party's attempt to strictly regulate the industry. Earlier, Trump also posted on social media to make it clear that "I am very positive and open to cryptocurrency companies and everything related to this emerging industry." He also criticized Biden as "the worst president in the country's history, who wants our country to die slowly and painfully."
It is not difficult to see that Trump is intent on winning the support of this wave of voters in the cryptocurrency track. His presidential campaign team has also accepted cryptocurrency donations, fulfilling the Republican candidate's promise to become the first major party candidate to accept Bitcoin, Ethereum and other digital currencies. To some extent, Trump's remarks and actions in support of cryptocurrency seem to have eased the Biden administration's opposition to cryptocurrency. And this may also be an important reason why he has become a weathervane for the fluctuations of meme coins and PoliFi.
In the days ahead, the volatility of these cryptocurrencies will be closely tied to Trump’s movements . Not only the election itself, but also the upcoming court cases and prosecutions will become catalysts or events that attract more attention and are likely to have a negative impact on it. Especially if Trump himself chooses to sell all of his $TRUMP (currently worth about $1 million) and disown the coin, the consequences will be disastrous.
So, again, there are risks in entering the market and you need to be cautious when investing.
