The MAGA meme token (TRUMP), dedicated to former US President Donald Trump, has risen in price, most likely thanks to billionaire Elon Musk.
On July 20, Musk wrote on social network X, banned in Russia: “Let’s return America to its former greatness” [abbreviated MAGA]. Elon attached a picture to the message showing people with different IQs, including both smart and stupid Trump supporters.
After Elon left this message, the MAGA rate went up and by the morning of July 21st it increased by 8%. However, the upward trend that emerged on Saturday cannot be compared in strength to the bullish trend that started after the assassination attempt on Donald. An unsuccessful attempt to assassinate a politician caused a 53% jump in the price of the TRUMP token.
At the same time as the cost of MAGA increased, the likelihood of Trump winning the election reached an all-time high. On the betting platform Polymarket, Donald's chance of winning is estimated at 65%.
Few people believe in Joe Biden's re-election, so the probability of this outcome is only 7%. If Trump triumphs, an incredible bullish trend could emerge in the MAGA market, which will take the asset price to unprecedented heights.
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