Meme coins with a political flavour, known as PolitiFi tokens, are showing massive strength in the lead-up to the 2024 US presidential 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?
MAGA coin holds a unique position in the crypto market. Its ticker symbol is the same one that made both of Trump’s presidential campaigns captivating and polarizing.
As such, it holds significant weight in the political sphere, with Trump even replying to MAGA’s tweet on X earlier this month.
In the past day, MAGA has started to outperform the largest Trump-themed meme coin, which holds the ticker symbol TRUMP.
And at the same time, its price chart has started to show signs of a more substantial upcoming 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 broken above multiple resistance levels, showing strong momentum and indicating that the uptrend will continue.
Per the analyst’s price chart, we might see MAGA soar to $0.0004 in the coming days.
And on a lower time frame, analyst 0xAndr0meda highlights that it has broken above a wedge chart pattern, which reflects a resurgence in momentum and adds confluence to Davie Satoshi’s prediction.
Meanwhile, Thunder Capital responded to a tweet that MAGA coin is the top trending token on Binance, suggesting it will explode in the coming days.
The analyst targets MAGA’s previous highs around $0.0007.
According to the prediction market Polymarket, Trump is the favorite in the presidential race.
Polymarket currently has him at a 66.3% chance of winning, which undoubtedly gives traders confidence in their Trump-focused crypto investments.
Should Trump become president, then there’s every chance we see even more capital inflows, potentially catapulting MAGA to the $0.0007 target set by Thunder Capital.
Even before the election, Davie Satoshi’s $0.0004 target is well within reach. This works out at a 45% gain from its current price.
But whether MAGA and other Trump-themed meme coins can sustain this run in a post-election world remains to be seen.
However, one PolitiFi token that is taking steps towards long-term success is FreeDum Fighters. It’s currently undergoing a presale and has raised $340K so far.
Move over, PolitiFi meme coins – FreeDum Fighters is changing the game with utility.
Following the blueprint of Polymarket, FreeDum Fighters users can predict who they think will win the election for rewards.
But unlike Polymarket, FreeDum Fighters users do not need to gamble their hard-earned crypto. They simply stake $DUM tokens, and if their candidate performs better, they’ll get paid.
There are two staking pools, each featuring respective satirical representations of Trump and Harris. Trump’s pool is called “MAGATRON” and Harris’ is called “Kamacop 9000.”
And FreeDum Fighters has other PolitiFi utilities. For instance, it has a weekly debate feature that invites users to engage in political discourse in exchange for tokens.
It also has a hilarious “Ask Joe” AI chatbot and a referral scheme.
Moreover, the token is available on both Solana and Ethereum, making it the first multichain PolitiFi token.
While many PolitiFi projects are glorified meme coins, FreeDum Fighters illustrates that PolitFi can be much more than an on-chain joke.
It’s a compelling concept, and analysts say it has massive potential. ClayBro argues it will “send PolitiFi tokens to the next level.”
However, ClayBro also highlighted that those seeking to buy should act quickly.
The price will rise throughout the ICO, with the next increase in two days.
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