The post What’s The Future Of Political Memes As Donald Trump Wins Election? appeared first on Coinpedia Fintech News
Donald Trump officially wins the U.S. Presidential election 2024! Following this, the cryptocurrency market has recorded a significant uptrend in valuation. However, uncertainty looms over the Political meme category as top tokens lose ~50% in valuation today.
With a sharp correction in the Political memes category, is this a crucial time to hold these tokens? In this article, we have covered the market sentiments and possible price analysis of the top 3 Trump-based tokens.
MAGA (TRUMP)
The Trump token has recorded a correction of 31.24% in the past 24 hours with a trading volume of $55.95 million. Moreover, it has plunged 37.29% over the past week and 42.86% during the past 30 days, highlighting long-term bearish sentiment.
The Moving Average Convergence Divergence (MACD) has displayed a constant red histogram with its averages showing a steady decline. Moreover, its SMA indicator records a negative crossover. This highlights increased selling pressure for the Trump-themed altcoin.
Suppose, this category regains momentum, in that case, the Trump price will retest its resistance level of $3.75. However, an increase in the bearish action could pull the price toward its crucial support level of $1.50.
MAGA (MAGA)
The MAGA coin price has recorded a major hit by losing ~50% of its value within the past few hours. With a 24-hour trading volume of $88.38 million, this project is currently valued at $42.441 million.
The Relative Strength Index (RSI) shows a sharp downtrend toward the oversold range with its average trendline constantly acting as a resistance to the MAGA price chart. This suggests a negative outlook for the altcoin in the coming time.
If the bears continue dominating the market, the MAGA coin price may retest its low of $0.000011250. On the other hand, if a trend reversal occurs, this altcoin may retest its upper high of $0.000185.
Super Trump Coin (STRUMP)
With a drop of ~21% within the past 60 minutes, the STRUMP price has plunged 48.64% in the past 24 hours. Further, it has lost 55.24% over the past week and 50.73% during the past 30 days.
The Simple Moving Average (SMA) constantly acts as a resistance to the Super Trump coin price chart. Moreover, the MACD indicator has experienced a strong red histogram. This indicates that the altcoin may continue losing value.
If the bulls regain momentum, the STRUMP price may retest its resistance level of $0.0068. On the contrary, an intensified bearish action could result in it retesting its low of $0.000800.
#PriceAnalysis [Source: Coinpedia]