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Meme tokens can be minted in minutes – and the failed assassination of Donald Trump opened a brand-new opportunity. Tokens and ordinals appeared to mark the event, immediately rallying on irrational hype.
Almost all chains saw a new wave of tokens, related to the events and images of the failed assassination of Donald Trump, the former US president now battling to regain the post. Dextools showed a FIGHT token was minted on Ethereum, immediately gaining a pairing with WETH.
Also Read: Meme coins rally on the back of Donald Trump’s failed assassination
The new batch of tokens extends the PolitiFi trend, where recent political events led to the immediate creation of memes and multiple tokens for each meme. PolitiFi has used Trump’s image and attitude, while offering multiple types of meme tokens. The recent memes also differ in their strategies, with some requiring loyal holding, while others stress the ability for quick, risky trading.
FIGHT tops newly minted meme tokens
Fight to MAGA (FIGHT) is among the day’s gainers, rising by an extraordinary 48,548.22%. The token turned into the day’s most active gainer, reaching $0.03. The token only had 28 votes to gain community trust, but quickly accrued liquidity. FIGHT also went through a fast correction and renewed gains, due to the volatile nature of meme tokens.
Fight to MAGA also got an immediate listing on Bitmart, as well as limited social media presence.Poloniex also listed the asset, taking a different path compared to those minted directly with a DEX liquidity pair. The new token started trading from July 15, requiring deposits to the exchanges.
The recent listing spree leads to confusing token names and tickers, which may compete in the future. Fight to MAGA will be the most centralized token, with a social media handle to rally a community. In its first day of trading, the new asset accrued $15M in reported volumes, as well as 4.5K wallets.
Also Read: Cardano founder says Trump assassination attempt is proof we need decentralization
FIGHT also had a Solana-based version, where it also emerged as the top gainer. FIGHT scored more than $37M in trades in the hours after its launch. To complete the picture of the recent news, EAR was the second-best Solana token in the new week.
Toncoin (TON) also accrued new meme tokens, though at a much lower trading volumes. TRUMP SHO was among the bigger gainers, adding more than 5,000% to its price.
Even a Cardano-based token with the TRUMP ticker was among the best traders in the past 24 hours. At this point, the new tokens are extremely volatile, and they vary in their support. Some have no known teams or social media presence, but were launched as a quick liquidity grab on Solana, Toncoin, or Ethereum DEX.
Trump news heats up NFT talks
Trump is no stranger to NFT collections, and this time, the new batch of images is even more dramatic. For now, the NFT world is silent. But there are already suggestions that an NFT mint may be in order, especially for one of the most iconic images of the failed assassination.
If ever there was a real user case for #Trump to create his own #NFT on #Bitcoin to last forever – this is the one. pic.twitter.com/sxUg7VLaQN
— Simon Dixon (@SimonDixonTwitt) July 14, 2024
Even without a new image or mint, older Trump-themed collections saw their floor price surge suddenly, as they regained exposure. This time, the calls are for an NFT mint on Bitcoin.
The Base Onchain Summer continued with a new Trump-based asset, also launched in the first hours after the assassination. The Valhalla Trump collection opened on Magic Eden, though with a much lower floor price of 0.00002 ETH. Additional spinoffs of the assassination’s iconic images are starting to appear with a mint on Base.
One of the new minting tools in 2024, Runes, also ran with the recent events.
For now, the effect on the NFT market is limited, as tokens are much easier to trade immediately. There are some signs that former NFT shillers may be trying to tap the hype for additional collections.
Cryptopolitan reporting by Hristina Vasileva