A recent survey has identified the most popular trending token in the cryptocurrency market, which saw a significant price increase due to the influence of Elon Musk, the innovative CEO of Tesla, SpaceX, Neuralin, and the former US president and current candidate, Donald Trump.
After the recent assassination attempt on Trump, the overall cryptocurrency market experienced a notable recovery, with Bitcoin and altcoin prices witnessing a substantial rise. Bitcoin reached a trading value above $65,000, while the memecoin MAGA (TRUMP) saw a significant surge.
The public support from Elon Musk and Donald Trump played a crucial role in the surge of the MAGA memecoin. Analysis from the cryptocurrency specialist platform, Santiment, highlighted that MAGA is currently the most popular trending token in the market.
“Thanks to what the crypto community widely perceives as Elon Musk’s transparent support for Donald Trump, MAGA is the top trending token in crypto. The price has increased by a modest +11% since hitting a low point 5 hours ago. Meme coins associated with the presidential candidate have been volatile since the recent events. Expect ongoing high volatility as the US election period approaches,” the platform stated in a post on July 19.
As of the time of reporting, the price of MAGA (TRUMP) was listed at US$6.20, marking a 5.8% decrease in the last 24 hours. The trading volume for MAGA stood at $11,126,233 in the past 24 hours, reflecting a 29.30% increase compared to the previous day, indicating a recent uptick in market activity.
Please note that the views expressed by the author or any individuals mentioned in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing or trading in cryptocurrencies carries a risk of financial loss.
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