Dark MAGA coin spikes after Elon Musk, Trump rally speech

Elon Musk’s look at a Donald Trump rally in Butler, Pennsylvania on Saturday impressed a large rally within the Dark MAGA meme coin after the X.com proprietor informed these in attendance that the election was a “must-win scenario.”

“As you’ll be able to see, I’m not simply MAGA, I’m darkish MAGA,” Musk, sporting a black “Make America Nice Once more” hat, informed the gang.

The Dark MAGA (DMAGA) meme coin subsequently jumped over 316% ever since.

The rally was Trump’s first in Butler since he survived an assassination try there in July. Shortly after the taking pictures, Musk endorsed Trump, citing his response to the assault.

On the time, President Joe Biden was nonetheless operating for re-election. He dropped out of the presidential race on July 21 and endorsed Vice President Kamala Harris to be the Democratic nominee.

What’s Dark MAGA?

Dark MAGA is simply one of many many, irreverent tokens which have emerged lately seemingly impressed by Trump, who was as soon as a crypto skeptic however is now an ardent supporter of the sector.

It will get its identify from a collection of “Dark MAGA” memes created in 2024, depicting Republican nominee Trump as a vengeful, authoritarian determine, usually with laser eyes. This was a riff on the “Dark Brandon” meme, which emerged as a pro-Biden satirical response portraying the president usually with crimson laser eyes.

And “Dark Brandon” is, in flip, a riff on “Let’s go, Brandon!” — a conservative euphemism Trump supporters used to criticize Biden. The “Let’s go, Brandon!” meme was satirically embraced by Biden supporters, who co-opted “Dark Brandon” as an emblem of Biden’s accomplishments, flipping the unique satirical intent.

However Musk’s embracing of Dark MAGA appeared to be in earnest.

Musk flips the script

As soon as Trump launched Musk to the stage, the Tesla CEO leaped into the air a number of instances whereas supporters cheered.

Musk urged these in attendance to vote and warned in his speech that “this would be the final election” if Trump doesn’t win in November.

Musk was seemingly flipping the script on Trump’s critics, who usually cite examples of Trump’s autocratic tendencies to boost issues about the way forward for American democracy below his affect.

Along with an try to overturn the 2020 election outcomes, Trump pressured state officers, equivalent to Georgia’s Secretary of State, to “discover” sufficient votes to declare him the winner. The twice-impeached former president additionally expresses admiration for authoritarian figures like Russian President Vladimir Putin and North Korean chief Kim Jong-un.

Musk, Trump bromance

Dark MAGA isn’t the primary satirical cryptocurrency impressed by the Musk/Trump alliance. Recall how the so-called Division of Authorities Effectivity (DOGE) coin surged after Musk tweeted his want to steer a authorities effectivity fee if Trump is re-elected.

Since then, the meme coin’s worth has fallen off a cliff.

In the meantime, political polls present a decent race between Harris and Trump.

Harris led Trump by 3.4 factors within the nationwide common maintained by The Hill/Decision Desk HQ as of Friday night.

Each candidates have appealed to billionaires. Along with Musk, PayPal co-founder Peter Thiel, the Winklevoss twins and on line casino tycoon Steve Wynn have all expressed help for Trump’s re-election.

Laurene Powell Jobs, the widow of Apple co-founder Steve Jobs; Reid Hoffman, the LinkedIn co-founder; Illinois Gov. JB Pritzker; and Mark Cuban, minority proprietor of the Dallas Mavericks NBA staff, endorsed Harris.