Mon Sep 16 16:09:49 UTC 2024: ## Trump Meme Coins Take a Dive After Second Assassination Attempt
**New York, NY -** Despite former President Donald Trump surviving a second suspected assassination attempt over the weekend, the value of political meme coins related to the Republican nominee has plummeted.
While the first attempt in July led to a surge in the price of coins like TREMP, TRUMP, and MAGA, the second attack has sparked a decline, with TREMP dropping 5% in the last 24 hours, TRUMP down 19%, and MAGA dipping just 1%.
This trend has raised concerns about the future of political meme coins, with traders questioning their reliance on news events.
“Realistically, that event should’ve been a catalyst for an influx of buy-side volume, yet no one was interested,” said pseudonymous trader Bastille, suggesting a general decline in retail interest.
The second attempt, unlike the first, didn’t garner the same level of widespread media attention, resulting in less hype and a weaker impact on the meme coin market.
Traders also pointed to the presence of “whales,” large investors holding significant portions of these coins, who may be using such events to dump their holdings and cash out.
The decline in value of these meme coins raises questions about their long-term viability, particularly as the presidential election approaches. Some experts believe these coins, often dubbed “event coins,” are strongly influenced by specific dates and events, leading to volatility and potential losses for investors.
The upcoming election is likely to be a period of intense activity for political meme coins, with traders expecting further fluctuations in their prices.
First Piper 