MAGA Coin Value Surges 20% as Elon Musk Shares \'Make America Greater Again\' Post

The value of Donald Trump's cryptocurrency, MAGA, has increased substantially in the past 24 hours. MAGA is currently being traded for $7.08, a 20.22% growth within the past 24 hours.

Donald Trump's cryptocurrency, MAGA, has seen a substantial increase in value over the past 24 hours. MAGA is currently trading at $7.08, up 20.22% over the past day.

The memecoin's market cap surged as Elon Musk, owner of Twitter, shared a post about "Make America Greater Again." Musk was referring to the upcoming U.S. government election this year. Musk is known to have openly supported Trump in the past for the presidency.

Recently, there were speculations about the Tesla CEO endorsing the 45th U.S. president. However, he reportedly denied endorsing any presidential candidate. Later, Musk donated heavily to a Super Political Action Committee (PAC) supporting Trump's return to the White House, which made their connection hard to deny, according to Coingape.

Following a close encounter with an assassination attempt, Elon Musk showed support for Donald Trump in the presidential race on his X page. He posted about Trump and wished him a speedy recovery. Tron founder Justin Sun posted the same on his X page, adding that he is the better choice for the crypto industry and can ensure fairer treatment.

Meanwhile, the crypto market reacted positively with Bitcoin (BTC), Ethereum (ETH), and altcoins showing significant price increases. Notably, MAGA coin surged almost 50% to hit $8.27 before slightly decreasing in value.

The Trump memecoin is now trading around 16% lower than its recent high.

On the other hand, Trump's presidential opponent, Biden, is expected to drop out of the race.

Galaxy Digital CEO Mike Novogratz said on Friday that the 46th U.S. president has a low chance of winning the 2018 elections. He highlighted the demands from Democratic party leaders, urging Biden to step down, which is why Novogratz anticipates the president will drop out in about 72 hours.

Prior to this prediction, Biden had a meeting with Democratic leaders on Capitol Hill, where he reiterated his commitment to remaining in the race.

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