As the US election is underway, "hot memes" continue to appear.

In the early hours of this morning Beijing time, the current US President Biden announced his withdrawal from the 2024 US presidential election and will support Vice President Kamala Harris as the Democratic presidential candidate in 2024. Subsequently, related meme coins such as $HERRIS, $KAMALA, and $KAMA, which surged in a short period of time, came into the community's view.

At the same time, Musk, who has received much attention from the crypto community and supports the Trump camp, also "made some money", causing an election concept meme coin "DMAGA" to surge more than 50 times in a short period of time.

Changing the avatar in the early morning led to a 50-fold increase in meme

In recent days, Musk has frequently retweeted content related to American politics on his Twitter account, clearly supporting Trump who is currently running for election. In the early hours of today, a netizen @Chriswinig left a message under Musk's early morning retweet commenting on the 11% increase in crime rate in New York, saying "It's time!" and attached a picture of Musk's original head portrait with a "Dark mask" with laser eyes.

This picture was generated by a website called DarkMagacoin. After the Trump shooting, the community launched an image-making website based on Trump's famous fist-raising photo, with the slogan "Dark MAGA Patriots Control Everything". Community fans can use the tools provided on the official website to generate the same dark laser eye picture.

Most importantly, the site launched the meme coin $DMAGA. However, before Musk changed his avatar, $DMAGA's trading volume was less than $2 million a week after its launch.

Early this morning, the news that Biden announced his withdrawal from the US presidential election once again ignited the excitement of Trump supporters. Musk replaced the picture in the comment area with his own avatar, which was seen as a high-profile response to celebrate Biden's withdrawal from the election.

The community soon discovered that a16z founder Marc Andreessen and Messari founder Ryan Selkis had both changed their profile pictures to the same laser eyes to represent their support for Trump.

With Musk's "leading the way", DMAGA started to soar in the early morning, rising more than 50 times in a few hours. As of the time of writing, its market value has exceeded 60 million US dollars.

During the bull market three years ago, Musk wore laser eyes

In fact, "laser eyes" have a special meaning to the crypto community and are a symbol of how crypto believers view Bitcoin.

At the beginning of 2021, in the bull market three years ago, Bitcoin rose all the way, from $29,000 at the beginning of the year to $56,000. Amid the excitement and bullishness of the crypto community, crypto podcast host Greg Zaj launched a "#LaserRayUnti l1 00 K" campaign on Twitter, believing that Bitcoin is about to break through the $100,000 mark.

"Laser eyes" refers to the yellow light emitted by the enemy's eyes when they are controlled by another entity in the game. Therefore, the crypto community used laser eye portraits to express their belief in Bitcoin. At that time, MicroStrategy CEO Michael Saylor, CoinShares CEO Meltem Demirors, and even US Senator Cythia Lummis became participants in this event.

The most important participant is Musk. On February 20, 2021, Musk suddenly changed his profile picture to a girl with "laser eyes" with a Bitcoin pattern in the background. Under Musk's leadership, Twitter at that time became a sea of laser eyes.

Interestingly, Bitcoin hit $68,000 today, and the vision of “＃LaserRayUnti l1 00 K” three years ago still feels relevant today.