Cryptocurrency Soars Over 200% Following an Elon Musk Statement
07.10.2024 7:00 1min. read Kosta Gushterov
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.
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.
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