As the United States Presidential election looms just 28 days away, the Political memecoins market is experiencing a significant uptrend in valuations. Some coins have surged by over 2X within a week, indicating the growing intensity of these projects in the market.
This article delves into the market sentiments, price movements, and potential short-term price targets of the top 3 Political memecoins as the 2024 U.S. Presidential election approaches.
MAGA (TRUMP)
The price of MAGA has risen by approximately 27% in the last 24 hours, with a trading volume of $17.54 million. Furthermore, it has surged by 54.52% over the past week and an impressive 1,036.46% this year.
The Relative Strength Index (RSI) has entered the overbought range in the 1D time frame. With the Simple Moving Average (SMA) acting as a support, the TRUMP coin presents a positive outlook for the future.
If the market continues to be bullish, the price of MAGA could aim to test its upper resistance level of $9 in the upcoming weeks. Conversely, a pullback might lead the memecoin towards its support level of $1.50.
Interested in meme coins? Check out our Pepecoin Price Prediction for potential price targets!
Super Trump Coin (STRUMP)
The price of STRUMP has surged by around 50% in the past day and is on the brink of retesting its August high. Additionally, it has skyrocketed by 2,701.85% since its inception, indicating a strong bullish sentiment in the market.
The technical indicators MACD and SMA indicate a rise in bullish sentiment in the 1D time frame, reflecting an increase in buying pressure for the memecoin in the cryptocurrency market.
If the market continues to favor the bulls, STRUMP’s price could retest its upper resistance level of $0.015160 this month. Conversely, a bearish scenario might push the Super Trump Coin price towards its low of $0.003625.
MAGA (MAGA)
The price of MAGA crypto has surpassed its crucial resistance level of $0.0001844 by adding approximately 105% to its value over the past week. Moreover, this memecoin has garnered significant attention from the crypto community and has surged by 2,200% within 5 months.
The Moving Average Convergence Divergence (MACD) depicts a continuous rise in the green histogram, with its averages indicating a bullish trend. This suggests that the MAGA coin price is poised to continue appreciating in the future.
Keeping the price above its resistance level of $0.000184 could pave the way for this meme coin to head towards its upper resistance level of $0.000488 this month. However, if the bulls regain control, the price might revisit its low of $0.00011250.
