Political Meme Coins Gain Momentum in the Crypto Market as the US Presidential Race Heats Up

With the presidential race gaining momentum in the United States, the increasing hype enters the crypto market. Following the craze of meme coins and AI tokens

As the 2024 presidential race heats up in the United States, the crypto market is also seeing a rising hype. After the craze of meme coins and AI tokens, political-based meme coins are now emerging as the next potential bull runners.

Among such tokens, the outspoken candidate Donald Trump, who is known for his recent soft approach towards cryptocurrencies and NFTs, is unsurprisingly sparking a new meme coin trend around him.

With the market being flooded by several coins around Donald Trump and his slogan “Make America Great Again,” investors are piling up to ride this FOMO (fear of missing out) rally. Let’s have a look at some of the Trump meme coins and see what’s next for them.

MAGA Token Price Teases Retest Entry Before Next Breakout Rally

After forming a resistance trendline in the 4H chart over the past few weeks, the MAGA token price follows a declining trend. However, forming a positive cycle in the consolidation range forming at the base level of $0.00018, the meme coin price breaches the trendline.

As the MAGA token teases the end of the correction phase, it retests the broken trendline, increasing the possibility of a post-retest jump in the meme coin and potentially reaching above the 50% Fibonacci level.

If the MAGA token sustains an uptrend, the MAGA price can reach the $0.00050 psychological mark.

Buyers Plan Abrupt End of Correction Spree In TRUMP Token

Experiencing a bearish turnaround from the $17.5 level, the TRUMP token faces massive selling pressure and drops below the psychological mark of $10. The meme coin currently trades at $6.948 with an intraday fall of 2.92%.

Moreover, the downfall accounts for a 59% drop from the all-time high and tests the 78.60% Fibonacci level. However, with lower price rejection and a possibility of a double bottom in lower timeframes, the meme coin may bounce back soon.

In such a case, the reversal rally can lead to a massive bullish jump in the TRUMP token and reach the $14 mark.

Super Trump Meme Coin Brings 100% Surge Opportunity

In a downtrend over the past week, the STRUMP token is down by 45% from the swing high of $0.019. Moreover, the meme coin trades at $0.01084 with an intraday drop of 4.65%, putting additional stress on the psychological support level.

As of now, the meme coin trades at a discount of 65% from the peak of $0.031. Nevertheless, the STRUMP token tests the 61.80% Fibonacci level, teasing a bullish comeback if the buyers absorb the supply.

In such a scenario, the bullish reversal can result in a price jump of STRUMP token by 100% to reach the $0.20 psychological mark.

News source：https://www.kdj.com/cryptocurrencies-news/articles/political-meme-coins-gain-momentum-crypto-market-presidential-race-heats.html

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