Meme Tokens Skyrocket After Attempted Assassination of Former President Trump

Trump Injured in Pennsylvania Shooting

Several meme tokens surged by double digits following an assassination attempt on former U.S. President Donald Trump. The meme coin market witnessed significant gains in tokens associated with Trump after the recent shooting incident in Pennsylvania.

Trump’s campaign confirmed that the Republican presidential hopeful is “doing well” despite the attack, which resulted in a wound to the upper part of his right ear. Authorities also confirmed that at least two people, including the shooter, were killed, with others reported injured.

As is often the case, the crypto market reacted swiftly to the news. Several meme coins linked to Trump and his Make America Great Again (MAGA) movement experienced dramatic price increases.

MAGA skyrockets 58%

Among the biggest gainers following the incident was the MAGA (TRUMP) coin, which surged nearly 58%, trading at $9.88 per unit at the time of writing.

The token’s market cap is a robust $450,128,557, with a fully diluted valuation of $446,326,440. Its 24-hour trading volume is equally impressive, reaching $37,436,858.

The price surge is evident across several time frames. Over the past seven days, MAGA’s value has increased by 57.3%, while it has risen by a more modest 38% over the last two weeks. Despite these gains, it remains about 24% lower than its value a month ago.

Another Trump-themed meme coin that saw significant gains after the Pennsylvania incident is Super Trump (STRUMP). The coin is currently up 51.2%, trading at $0.01296. Key metrics include:

• BTC Value: 0.062151 BTC, up 45.6%
• ETH Value: 0.054031 ETH, up 47.5%
• 24h Range: $0.008571 – $0.01308

The coin has a market cap of $30,624,792, with a fully diluted valuation matching this figure. Its 24-hour trading volume stands at $4,131,626, with a circulating supply of 2,339,600,235.

Investors who have held the coin for at least seven days have seen its value increase by 50%. Over two weeks, the price improvement is more modest at 4.3%. However, over the past 30 days, STRUMP’s current price remains nearly 30% lower than its level a month ago.

The MAGA Hat token (MAGA) also experienced a significant jump of 35.7%, fueled by heightened investor interest following the Trump shooting. It is now priced at $0.0002451.

With a market cap of $96,248,672 and a fully diluted valuation of $96,964,134, MAGA’s trading volume over the past 24 hours has reached an extraordinary $100,043,133 as the frenzy following the Trump shooting continues unabated.

The circulating supply is substantial at 410,290,333,126, nearly matching its total and maximum supply figures.

The recent surge in meme coins tied to former President Donald Trump underscores the crypto market’s sensitivity to current events and the power of speculative trading. As seen with the MAGA, Super Trump (STRUMP), and MAGA Hat tokens, prices can skyrocket rapidly in response to high-profile incidents, reflecting both the volatility and the potential for significant gains in this niche market. Investors should remain cautious, however, as these dramatic price movements can just as quickly reverse, as evidenced by the longer-term performance of these tokens.

Solana is addressing its reliability challenges with the introduction of the Firedancer validator client. While known for high transaction speeds and low fees, Solana has faced criticisms for network fragility compared to platforms like Tron or Ethereum. Jump Crypto’s development of the Firedancer validator client aims to enhance transaction processing and maintain network decentralization and security, similar to Besu or Geth on Ethereum.

The new Firedancer client will complement existing options, offering Solana node operators a diversified environment. Powered by new code, Firedancer aims to significantly improve Solana’s performance, crucial as the platform grows in popularity for memecoins, attracting developers and traders alike. It’s anticipated that Firedancer could enable Solana to process over 1 million transactions per second.

Following the launch of the Firedancer validator client page, Jump Crypto has initiated a 42-day bug bounty program with a $1 million reward. Developers interested in participating must undergo KYC verification. Rewards will vary based on the severity of the identified issues, offering substantial incentives for bug discovery and resolution.

Industry analysts are optimistic about Firedancer’s potential impact, expecting memecoins to benefit greatly once Solana node operators adopt this new infrastructure.