Memecoins MAGA and $GFOX, along with Trump tokens, saw significant rallies following an assassination attempt on Donald Trump, highlighting their correlation with political events.
Points
- Memecoins MAGA and $GFOX surged after the assassination attempt on Donald Trump.
- Trump is now the favorite to get re-elected as US President.
- Trump’s crypto endorsement boosts investor confidence.
- Memecoins gain momentum with political developments.
Memecoins like MAGA and $GFOX saw a notable surge on July 13, 2024, after news of an assassination attempt on Donald Trump broke. This incident quickly became an international event, causing widespread ripple effects across various markets. Trump, who is now the favorite to win the November election, has a significant impact on the crypto market, especially memecoins associated with his persona.
MAGA Surges After Trump Survives Assassination
Donald Trump has become one of the most important cultural figures on the planet. His ascension to complete dominance of the Republican Party and eventually becoming President was unprecedented. His campaign announced this year that he would start accepting crypto donations, a move that marked Trump’s most significant endorsement of crypto. Crypto enthusiasts now see his election as a positive for the crypto industry.
It is unclear what Trump’s actual policy position will be on crypto, but the early indications are good. The Securities and Exchange Commission （SEC） has issued several approvals for crypto ETFs, and a Trump administration will likely continue with pro-crypto policies.
GFOX Surges with MAGA
Galaxy Fox （$GFOX） is one of the beneficiaries of this market surge, which adds to the project’s initial momentum. The gaming meme coin raised over $6 million in its presale and launched its gaming platform on May 18, 2024. This launch marks a paradigm shift in the memecoin approach. Instead of relying solely on the meme concept, Galaxy Fox injects utility by offering a play-to-earn gaming platform where players nurture digital fox characters and engage in exciting battles. For their efforts, they earn various rewards, which incentivize participation. The possibility of staking on the platform adds extra rewards through participating in platform governance.
$GFOX represents the equalization of the gaming sector by giving gamers the power to influence game platforms like never before. Additionally, it is an opportunity to change the outlook for memecoin developers to incorporate utility into their approach. $GFOX looks to become one of the best projects to launch in 2024.
Conclusion
Trump’s assassination attempt will be one of the defining moments of 2024. The enthusiasm for a likely Trump re-election is growing within the crypto sector. Memecoins like MAGA may be the most prominent immediate beneficiaries, but fundamentally sound projects like $GFOX will reap long-term benefits. $GFOX is fast rising and is poised to become one of the leading projects in the crypto landscape.