Meme coins with a political flavour, understood as PolitiFi tokens, are revealing huge strength in the lead-up to the 2024 UnitedStates governmental election.
Trump-themed token MAGA is one of those making gains today, pumping by 19%. But with the election approaching, how far can it go in the coming weeks?
Traders See More Gains Before Election, But a Trump Win Would Be Huge For MAGA
MAGA coin holds a distinct position in the crypto market. Its ticker sign is the exactsame one that made both of Trump’s governmental projects fascinating and polarizing.
As such, it holds substantial weight in the political sphere, with Trump even responding to MAGA’s tweet on X earlier this month.
In the past day, MAGA has began to outperform the biggest Trump-themed meme coin, which holds the ticker sign TRUMP.
And at the exactsame time, its cost chart has began to program indications of a more considerable approaching rally.
Currently, MAGA is trading at $0.0002762, up 19% today, 74% this week, and 280% this month. It holds a $107 million market cap and a $38 million 24-hour trading volume, up 20% today.
Davie Satoshi notes that MAGA has damaged above numerous resistance levels, proving strong momentum and showing that the uptrend will continue.
Per the expert’s cost chart, we may see MAGA skyrocket to $0.0004 in the coming days.
And on a lower time frame, expert 0xAndr0meda highlights that it has damaged above a wedge chart pattern, which shows a revival in momentum and includes confluence to Davie Satoshi’s forecast.
Looks like $MAGA has damaged out of the debtconsolidation pattern however as of yet has not broken above the veryfirst significant Resistance level as seen on the chart. break easily above that and its clear skies up to .00026 pic.twitter.com/YwZlwrDwj4
— .𝟶𝚡𝙰𝚗𝚍𝚛𝚘𝚖𝚎𝚍𝚊. (@0xAndr0meda) October 28, 2024
Meanwhile, Thunder Capital reacted to a tweet that MAGA coin is the leading trending token on Binance, recommending it will blowup in the coming days.
The expert targets MAGA’s previous highs around $0.0007.
According to the forecast market Polymarket, Trump is the preferred in the governmental race.
Polymarket presently has him at a 66.3% possibility of winning, which certainly provides traders self-confidence in their Trump-focused crypto financialinvestments.
Should Trump endedupbeing president, then there’s every opportunity we see even more capital inflows, possibly catapulting MAGA to the $0.0007 target set by Thunder Capital.
Even before the election, Davie Satoshi’s $0.000