The Impact of Elon Musk’s Mention on MAGA (TRUMP) Token Price
The MAGA (TRUMP) token, dedicated to former US President Donald Trump, has seen a significant increase in price following a recent mention by Elon Musk on social media. On July 20, Musk posted on the X platform (formerly known as Twitter), using the abbreviation MAGA, which stands for «Make America Great Again.» The post included an image depicting individuals with different levels of intelligence, both Trump supporters and opponents.
After Musk’s post, the price of the MAGA token surged by 8% by the morning of July 21. While this increase is notable, it does not compare to the 53% surge that followed the attempted attack on Trump. This surge indicates growing investor confidence in Trump’s chances of winning the upcoming election.
The Polymarket prediction platform now estimates Trump’s probability of victory at 65%, while current President Joe Biden’s chances of re-election are only 7%. If Trump wins the election, it could lead to a further rise in the price of the MAGA token, presenting unique investment opportunities for holders of this asset.
Overall, Elon Musk’s mention has served as a powerful catalyst for boosting interest and value in the MAGA token within the cryptocurrency market.
