Altcoins
Trump’s Failed Assassination Triggers Huge Crypto Gains
An assassination attempt on Donald Trump has become a hot topic not only in the media, but also in the cryptocurrency world. After this failed attempt, Bitcoin suddenly broke through the resistance and surpassed $60,000. In addition, Trump-themed meme coins have seen a significant increase. Let’s take a look at the coins that have gotten an unexpected boost.
Bitcoin broke the resistance
Bitcoin had been declining since it touched $72,000 on June 7. On June 24, it bounced off the $59,500 support level but was pushed back down from the $63,000 resistance level. The negative sentiment among traders and investors, due to market and non-market reasons, affected not only BTC but also altcoins. Bitcoin touched $59,900 after a long time. As mentioned in our previous articleThe range between $59,000 and $60,000 has become a high resistance zone and despite multiple attempts, BTC has failed to break above it.
BTC Technical Analysis
After the failed Trump assassination attempt, BTC got a boost and broke the $60k resistance, touching $63k. However, it is currently stuck in that area, which is another old high resistance area. The 20 MA has broken out of the 50 and 100 MA.
Source: TradingView
Bollinger Bands are showing a wide open zone, indicating high price volatility. This could mean that the bounce was temporary and the price could fall again. The RSI, currently at 76.91, confirms this, indicating that BTC is overbought and may need a correction.
Source: TradingView
Fibonacci analysis also highlights high resistance in the current zone of BTC.
Source: TradingView
Trump Themed Meme Coin Rally
MAGA meme coin
Immediately following the failed attack on Trump, the MAGA meme coin, ticker TRUMP, jumped 68.38% from $6.17 to $10.37. It rose seven spots on CoinMarketCap to 219th place. MAGA is currently trading at $8.00.
Source: Dexscreener
Super Trump Coin
This meme coin has increased by 28.64% in the last seven days and is now trading at $0.01067. Its market cap is now $24.9 million. Due to the assassination attempt, this coin has seen an increase of 38.87%.
Source: Dexscreener
Donald Tremp
This meme coin on Solana saw the highest jump, rising 121.54% to reach $0.85. Tremp’s holders increased to 35,000. It is currently trading at $0.4447, with a market cap of $44.2 million.
Final thoughts
Even though all of these tokens have seen a significant jump along with Bitcoin, they have all been pulled down. Bitcoin is the only coin still on the rise, proving the power of strong fundamentals. However, this does not mean that people cannot make money from meme coins. They are highly volatile and, with care, can help investors make a lot of money. They just need to do their due diligence.