The MAGA (TRUMP) coin witnessed a notable drop whereas the broader crypto market noticed a powerful rebound.
This sharp decline within the coin’s worth displays heightened market volatility and investor sentiment influenced by the dramatic information of the assassination try on former U.S. President Donald Trump, which has triggered pressure throughout the political scene in america as nicely.
Knowledge from Santiment confirms that MAGA’s every day volatility spiked to a file excessive above 0.15 on July 14 earlier than dropping. Regardless of the drop, it stays at highs final seen in late June.
Notably, MAGA presently trades for $7.98, with a 7.36% value hunch over the previous 24 hours. The asset’s value efficiency has been inconsistent because of the stage of uncertainty surrounding the token.
Following the occasion, MAGA instantly jumped to a month-to-month peak of $11.5 on July 13 amid reactions from a number of Trump-themed tokens.
Regardless of a hunch from the $11.5 excessive, the asset closed July 13 with a powerful 37.65% spike. TRUMP ultimately gave up a few of these beneficial properties the next day, dropping by 11.65% on July 14. These losses have been recouped with a 6% improve this morning.
MAGA presently has a market cap of $39.6 million, sustaining its place as the most important Trump-themed meme coin.
MAGA’s efficiency is commonly carefully tied to information surrounding Trump. Following the assassination try, the heightened volatility is attributable to a number of elements, together with elevated uncertainty and a shift in market sentiments.
On social media, notably X, reactions to the occasion have been diverse and intense. Supporters of Trump have expressed outrage and theories, suggesting that the try was politically motivated.
Excessive-profile figures like Congresswoman Marjorie Taylor Greene amplified claims that the Biden administration and the FBI had been concerned, regardless of these allegations being extensively debunked by fact-checkers.
Conversely, many customers have expressed reduction that Trump survived the try, sharing their well-wishes and hoping for his continued security. The assassination try itself has been shrouded in controversy, with discussions concerning the safety measures in place and the potential implications for Trump’s political future.