Cryptocurrency Soars Over 200% Following an Elon Musk Statement

Elon Musk's attendance at a Donald Trump rally on October 5 in Butler, Pennsylvania, caused significant market moves in one of the meme coins.

Elon Musk’s attendance at a Donald Trump rally on Oct. 5 in Butler, Pennsylvania, caused significant market moves in one of the meme coins.

Musk, dressed in a black blazer, an “Occupy Mars” T-shirt and a black MAGA hat, was seen by many as highlighting his growing political involvement as the US election approaches in November.

At the rally, Musk encouraged attendees to vote, calling it “the most important election of this lifetime.” His presence highlighted his deepening ties with Trump, who earlier offered to appoint Musk to a commission on government effectiveness if re-elected. Musk also held a live conversation with Trump on the X Space platform in August, further cementing their political relationship.

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Crypto Analyst Shares Bullish Outlook on Solana and Two Other Altcoins

Musk’s remarks regarding Dark MAGA, a Trump-inspired meme coin, sent its value up over 220% to approximately $0.0073. At the time of writing, however, the altcoin has lost some of its value and is trading for around $0.0065.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.