MAGA Whales Makes Gains $8 Million After Trump’s Failed Assassination

The assassination attempt on former President Donald Trump has resulted in a $8 million windfall for the “MAGA Whale.” Former President Donald Trump was the subject of an attempted assassination on  July 13 while he was in Pennsylvania for a campaign event. The rapid intervention of the Secret Service and local law enforcement foiled the assault, leaving Trump uninjured.

The episode has exacerbated the already divisive political environment in the US, increasing pro- and anti-controversial sentiment against the former president.  The MAGA Whale made a big investment in the market after the assassination attempt, putting a large wager on Trump’s rising popularity and the ensuing rise in the value of Trump-related assets.

Report from Lookonchain: a popular on-chain data provider, earlier today, reported that a wallet with TRUMP, believed to belong to GCR bearing @GiganticRebirth on the X platform deposited  1.08 million units of MAGA, valued at $8.85 million to the BTSE exchange 5 hours before this report.

Experts Continue to Attribute Recent Increase to Trump’s Attempted Assassination 

According to individuals within the cryptocurrency community, the MAGA Whale invested in various assets that were anticipated to appreciate in value due to heightened political tensions and greater media coverage. These assets included cryptocurrencies, Trump-related stocks, and Non-Fungible Tokens (NFTs) that the MAGA Whale believed would gain value from the announcement.

Financial expert Jane Simmons said, “The assassination attempt created a significant emotional and political response, which translated into financial movements in the market.” A discussion concerning the morality and legality of making money on such politically sensitive events has been spurred by the MAGA Whale’s profits.

Opponents contend that profiting financially from an attempted murder is immoral and dangerous precedent. Katherine Wu, a regulatory specialist, stated that this was an obvious illustration of the negative aspects of speculative trading.

Investor Makes $8.3 Million in Profit, Experts Comparison Politics and Cryptocurrency 

The attempt on Trump’s life and the money the MAGA Whale made off of it have further inflamed politics. While opponents perceive it as an exploitation of a horrible occurrence, fans of the former president see the MAGA Whale’s popularity as evidence of his ongoing impact and fortitude.

Political strategist Dr. James Robertson stated, “This incident underscores the deep divisions in our society and the lengths to which some individuals will go to capitalize on political events. It also brings up significant issues regarding how politics and money intersect in the digital age.” The accumulated profit was estimated at $8.3 million.

This wallet had previously spent 540,700 USDT to buy 1.08 million units of TRUMP tokens at a unit price of $0.50 around November 22 and December 4, 2023. Donald Trump’s persistence in acknowledging Bitcoin and its activities has continued to fuel the positive performance of his memecoin. However, Trump has remained optimistic about attending the Bitcoin 2024 Conference in late July. 

TRUMP Rise by 60%, Gathers $334 Million in Market Capitalization

Another wallet address, “GCR: Address 1”, still possesses 936,279 TRUMP units, worth about $7.23 million and yet to be sold. This wallet address has presently gained over $6.5 million in profit. This intense positive activity is solely linked to the attack on the former United States present and the present presidential candidate for the November election. 

The price of TRUMP rose significantly by 60% during the weekend and climbed to $10. The coin faced correction by almost 25%, starting from the top. The weekly chart published on the Coingape website says that TRUMP is still trading on a premium status at 42% and currently rating $334 million in market capitalization.

Aside from the TRUMP coin, memecoins like AMOGUS increased by +466.92% in trade at $0.0001195, followed by Icon and Baby Pepe. All the major top ten memecoins increased 4-10% in 24 hours. Meanwhile, analysis has shown that Trump’s proposed speech at the 2024 Bitcoin Conference will likely positively impact the cryptocurrency.