In the wake of the attempted assassination of Donald Trump, the crypto landscape witnessed a profound surge in the minting of meme tokens, capturing market attention with unprecedented velocity. Notably, the FIGHT token, short for Fight to MAGA (Make America Great Again), emerged as a dominant player on multiple blockchains, including Ethereum and Solana, exhibiting extraordinary price gains and significant trading volumes. This phenomenon underscores the ongoing “PolitiFi” trend, wherein political events and figures become catalysts for creating meme tokens, often driven by speculative and irrational market behaviors. Alongside FIGHT, other tokens like TRUMP SHO and various Trump-themed NFTs also saw heightened activity, despite their inherent volatility and varying degrees of community and liquidity support. What happens in the world of cryptocurrencies when an event as controversial as a failed assassination attempt on Donald Trump takes place? With meme tokens known for their rapid creation and irrational hype-driven rallies, I found myself fascinated by the new crypto assets minted in the wake of this shocking event. Let’s explore the landscape of meme tokens that emerged and gained traction following the assassination attempt on former US President Donald Trump.
The Surge in Meme Tokens Post-Assassination Attempt
In the minutes and hours following the assassination attempt, a wave of new tokens flooded almost all blockchain networks. This frenzy can be attributed to opportunistic developers and traders looking to capitalize on the trending political event. One of the most significant tokens to emerge was the FIGHT token on the Ethereum blockchain, which saw immediate pairing with Wrapped Ethereum (WETH) and rapid adoption.
Emergence of FIGHT Token
The “Fight to MAGA” (FIGHT) token stood out as a remarkable gainer, skyrocketing by an astonishing 48,548.22% to reach a price of $0.03 shortly after its launch. Despite having only 28 votes to gain community trust initially, the token quickly garnered enough liquidity. This meteoric rise demonstrates the volatile nature of meme tokens, which can experience both rapid gains and corrections.
Exchange Listings and Social Media Influence
Bitmart and Poloniex were quick to list the FIGHT token, boosting its visibility. This centralized approach contrasts with tokens minted directly through decentralized exchange (DEX) liquidity pairs. On its first day of trading, FIGHT accumulated $15M in reported volumes and was held in 4.5K wallets. Social media played a crucial role in rallying a community around the token, although the fast-paced environment led to some confusion regarding token names and tickers.
Success on Solana and Toncoin
FIGHT also had a version on the Solana blockchain, where it emerged as the top gainer, with trades exceeding $37M in the hours after its launch. Another token, TRUMP SHO on Toncoin, saw a price increase of over 5,000%. Even Cardano-based tokens capitalized on the event, with a TRUMP ticker token becoming one of the best traders within 24 hours.
| Token | Blockchain | Initial Gains (%) | Initial Trading Volume ($M) |
|---|---|---|---|
| FIGHT | Ethereum | 48,548.22 | 15 |
| FIGHT (Solana) | Solana | N/A | 37 |
| TRUMP SHO | Toncoin | 5,000 | N/A |
| TRUMP | Cardano | N/A | N/A |
The PolitiFi Trend: Linking Political Events to Crypto
The surge in tokens following Trump’s assassination attempt exemplifies the “PolitiFi” trend, where political events inspire a slew of meme tokens. These tokens vary in their strategies, with some requiring long-term holding and others promoting quick, risky trading. This trend reflects the growing intersection of politics and cryptocurrency, where memes and tokens become a form of social and political commentary.
Diverse Strategies Across Chains
PolitiFi tokens leverage Trump’s image and persona, offering multiple variations of meme tokens. Some focus on community trust and loyalty, while others appeal to traders seeking high-risk, high-reward opportunities. The fast-paced nature of this trend means that new tokens can appear and gain traction almost overnight, driven by current events and social media engagement.
The Role of Decentralized Exchanges
Decentralized exchanges (DEXs) play a significant role in the PolitiFi trend, allowing for rapid token creation and liquidity provision. These platforms enable developers to mint new tokens quickly and pair them with established cryptocurrencies like Ethereum or Solana. The decentralized nature of DEXs also means that these tokens can be traded without the need for centralized approval or listing processes, making them accessible to a broader audience.
Donald Trump and the NFT Market
Beyond tokens, the failed assassination attempt on Donald Trump has also reignited interest in Trump-themed NFTs. Trump is no stranger to the NFT world, having previously launched collections. This time, the dramatic nature of the event has led to speculation about new NFT mints, particularly featuring iconic images from the failed assassination.
Existing Collections and Potential New Mints
Existing Trump-themed NFT collections saw a sudden surge in their floor prices, regaining exposure and attracting new interest. This wave of enthusiasm has prompted calls for fresh NFT mints, potentially on the Bitcoin blockchain, which could capitalize on the event’s historical significance.
Base Onchain Summer: Valhalla Trump Collection
One notable example is the Valhalla Trump collection, launched on Magic Eden as part of the Base Onchain Summer event. Despite having a lower floor price of 0.00002 ETH, the collection underscores the potential for new cryptocurrency assets to emerge from significant political events.
Conclusion
The failed assassination attempt on Donald Trump has catalyzed a new wave of meme tokens and NFT interest, underscoring the dynamic and rapid-response nature of the cryptocurrency market. The emergence of tokens like FIGHT, along with heightened activity in the NFT space, highlights how quickly the crypto community can mobilize around trending events. This phenomenon also reflects the broader PolitiFi trend, linking political events to the creation and trading of meme tokens.
As the market continues to evolve, it will be interesting to see how new tokens and NFTs tied to political events will shape the cryptocurrency landscape. For now, the events surrounding Trump’s assassination attempt serve as a compelling case study in the intersection of politics, memes, and digital assets.