Elon Musk’s recent appearance at a Donald Trump rally in Butler, Pennsylvania, on Saturday sparked a significant surge in the Dark MAGA meme coin. The rally occurred after Musk told attendees that the upcoming election was a “must-win situation.”

“As you can see, I am not just MAGA, I’m dark MAGA,” Musk, wearing a black “Make America Great Again” hat, stated to the crowd.

Dark MAGA Meme Coin Surge

The Dark MAGA meme coin experienced a massive jump of over 316%. This rally was Trump’s first in Butler since surviving an assassination attempt in July. Shortly after the incident, Musk endorsed Trump, praising his response to the attack.

At the same time, President Joe Biden was still in the running for re-election. However, he withdrew from the presidential race on July 21 and endorsed Vice President Kamala Harris as the Democratic nominee.

What is Dark MAGA?

Dark MAGA is one of the many irreverent tokens inspired by Trump, who transitioned from a crypto skeptic to a strong supporter of the sector. The coin’s name stems from a series of “Dark MAGA” memes created in 2024, depicting Trump as a vengeful, authoritarian figure, often with laser eyes. This meme is a twist on the “Dark Brandon” meme, a satirical pro-Biden response featuring the president with red laser eyes.

The “Dark Brandon” meme itself is a riff on “Let’s go, Brandon!”—a conservative euphemism used by Trump supporters to criticize Biden. Ironically, Biden supporters embraced “Dark Brandon” as a symbol of Biden’s accomplishments, flipping its original satirical intent.

Musk’s Endorsement of Dark MAGA

Musk’s support for Dark MAGA appears to be genuine. He expressed his desperation and concern about the diminishing likelihood of receiving significant tax cuts if Trump does not win the upcoming election. Musk’s vocal support underscores his alignment with Trump’s political agenda.

Musk and Trump: A Political Alliance

During the rally, Musk was introduced by Trump and received an enthusiastic response from the crowd. Musk urged attendees to vote and warned that “this will be the last election” if Trump does not win in November. This statement seemed to counter Trump’s critics, who often highlight Trump’s autocratic tendencies and concerns about American democracy under his influence.

Trump’s controversial actions include attempting to overturn the 2020 election results and pressuring state officials, such as Georgia’s Secretary of State, to “find” enough votes to declare him the winner. Trump, who has been impeached twice, also expresses admiration for authoritarian figures like Russian President Vladimir Putin and North Korean leader Kim Jong-un.

The Musk-Trump Bromance and Cryptocurrency

Dark MAGA is not the first satirical cryptocurrency linked to the Musk-Trump relationship. The Department of Government Efficiency (DOGE) coin saw a surge after Musk expressed his desire to lead a government efficiency commission if Trump is re-elected. However, the value of the meme coin has since plummeted.

Political polls currently show a tight race between Harris and Trump. As of Friday evening, Harris led Trump by 3.4 points in the national average.

Both candidates have garnered support from billionaires. Besides Musk, notable Trump supporters include PayPal co-founder Peter Thiel, the Winklevoss twins, and casino tycoon Steve Wynn. On the other hand, prominent Harris endorsers include Laurene Powell Jobs, widow of Apple co-founder Steve Jobs, LinkedIn co-founder Reid Hoffman, Illinois Governor JB Pritzker, and Mark Cuban, minority owner of the Dallas Mavericks NBA team.

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