Elon Musk Declares Support for Trump at Rally, Boosting Crypto Prices
Elon Musk, the CEO of SpaceX and Tesla, made headlines recently when he attended a rally for Republican presidential nominee Donald Trump in Butler, Pennsylvania. Musk, known for his innovative work in the tech and space industries, surprised many by expressing his support for Trump and identifying as ‘Dark MAGA’ at the event.
During his speech at the rally, Musk humorously declared, “As you can see, I’m not just MAGA, I’m dark MAGA.” This statement coincided with a notable increase in the MAGA price, a cryptocurrency linked to Trump’s political brand, which surged by 7.84% to $3.24 shortly after his appearance. The surge in MAGA price was accompanied by a 37% increase in trading volume, indicating heightened market activity.
In addition to the boost in MAGA price, other Trump-related cryptocurrencies also experienced a market uptick. BABYTRUMP Coin, a meme coin referencing Trump in a humorous context, surged over 9% in 24 hours. TrumpCoin (DJT), another politically-themed meme coin, saw a significant increase in market activity, rising over 20% in the last 24 hours.
Elon Musk has been vocal about his support for Trump in the upcoming US election, emphasizing the importance of a Trump win. He has updated his social media profiles to reflect Trump’s campaign slogans and has urged voter registration. Musk stated, “President Trump must win to preserve the Constitution. He must win to preserve democracy in America. This is a must-win situation.”
Furthermore, Musk’s endorsement of Trump has boosted the president’s election-winning odds, with data showing Trump leading over Kamala Harris. Musk’s involvement in political events like the Trump rally has drawn attention from various sectors, potentially influencing financial markets.
Overall, Elon Musk’s declaration as ‘Dark MAGA’ at the Donald Trump rally has sparked interest in the crypto market and may have implications for October’s market movements. With historical trends and the anticipation of a bullish ‘Uptober,’ Musk’s involvement could potentially catalyze a crypto rally. Stay tuned for updates on how Musk’s political stance continues to impact the market.