With the United States Presidential election only 28 days away. The Political memecoins have experienced a massive uptrend in their valuations. Moreover, some have surged over 2X within a week, highlighting the increasing intensity of these projects in the market.
In this article, we have covered the market sentiments, price action, and possible short-term price targets of the top 3 Political memecoins as the U.S. Presidential election for 2024 nears.
MAGA (TRUMP)
The MAGA price has jumped ~27% in the past 24 hours with a trading volume of $17.54 million. Moreover, it has jumped 54.52% over the past week and 1,036.46% this year.
The Relative Strength Index (RSI) has breached the overbought range in the 1D time frame. Further, with the SMA acting as a support, the TRUMP coin shows a positive outlook in the coming time.
If the market continues trading under a bullish influence, the MAGA coin price could prepare to test its upper resistance level of $9 during the upcoming weeks. Conversely, a setback could pull the memecoin toward its support level of $1.50.
Interested in meme coin? Read our Pepecoin Price Prediction for potential price targets!
Super Trump Coin (STRUMP)
The STRUMP price has soared ~50% over the past day and is on the verge of retesting its August high. Moreover, it has jumped 2,701.85% since its inception. This highlights a strong bullish sentiment for it in the market.
The technical indicators MACD and SMA record an increase in the bullish sentiment in the 1D time frame. This indicates an increase in the buying-over-seeling pressure for the memecoin in the crypto market.
If the market continues favoring the bulls, this could result in the STRUMP price retesting its upper resistance level of $0.015160 this month. On the contrary, a bearish action could pull the Super Trump Coin price toward its low of $0.003625.
MAGA (MAGA)
The MAGA crypto price has breached its important resistance of $0.0001844 by adding ~105% to its valuation over the past week. Further, this memecoin has gained massive attention from the crypto space and has soared 2,200% within 5 months.
The Moving Average Convergence Divergence (MACD) shows a constant rise in the green histogram with its averages showing a bullish trend. This suggests that the MAGA coin price will continue gaining value in the coming time.
Maintaining the price above its resistance level of $0.000184 could set the stage for this meme coin to prepare to head toward its upper resistance level of $0.000488 this month. However, if the bulls regain power, the price could retest its low of $0.00011250.
Source: https://coinpedia.org/price-analysis/top-politifi-memecoins-to-stack-as-28-days-remains-for-the-u-s-election/