Donald Trump-themed meme coin, MAGA (TRUMP), has soared 159% this month as the former president’s odds of winning the election soar on prediction markets. Can it keep rising?
The PolitiFi sector holds a unique market position, prized between prediction and memetic investment. Another token in this category that could explode is FreeDum Fighters, which has just launched its presale today.
“Trump’s personality and viral social media moments make him perfect for meme coins,” Kyle Kemper, who worked on RFK’s Jr. campaign, told Cointelegraph recently.
The ex-president’s polarizing personality draws unprecedented publicity, which could help keep eyeballs on TRUMP and other PolitiFi tokens, even after the 2024 US Elections conclude in November.
On the one hand, if Trump wins the election, every policy change he makes could drive liquidity into the TRUMP meme coin, with crypto fans using it to pay homage to the president.
But on the flip side, Trump’s captivating persona means that, even if he loses, he will likely remain highly influential, Weiss Ratings research editor Jurica Dujmović told Cointelegraph.
Either way, Trump is unlike any political figure before him. His followers will likely continue to show support, no matter how the election swings.
This creates an opening where MAGA could continue to rise for at least the next few months. But how far can it go?
Prominent meme coin trader Monica notes that TRUMP has flipped a crucial resistance level and will now rally toward $7 in the coming days.
Looking further ahead, analyst Willaim speculates TRUMP will reach $47, noting it’s on the verge of breaking an ascending triangle to the upside, which could be followed by a parabolic rally.
Should TRUMP reach the $47 mark, it would become one of the largest meme coins by market cap, based on today’s landscape.
Whether that happens remains to be seen, but with the election approaching, experts’ optimistic long-term outlook on PolitFi tokens, and Trump’s unprecedented ability to capture attention, we can certainly expect further growth in the coming weeks.
Monica’s $7 target could well be hit before the end of October, and Willaim’s $47 prediction should not be ruled out. Suppose Trump secures a win, this could generate massive excitement and drive liquidity into the meme coin.
As the PolitiFi narrative shows strength, a new token has emerged today and is already generating interest. It’s called FreeDum Fighters and is currently undergoing a presale.
FreeDum Fighters is a new satirical meme coin that invites holders to stake their tokens in favour of either Donald Trump or Kamala Harris. Based on real-life events, such as interviews and polls, those backing the winner will be airdropped tokens for free.
It provides a parallel, humorous take on political events while allowing investors to speculate and profit from it. In the FreeDum Fighters ecosystem, Donald Trump appears as “MAGATRON” while Kamala Harris is “Kamacop 9000.”
The figureheads have respective staking pools, and rewards will be weighted based on who’s winning. If MAGATRON is in the lead, the Kamacop pool will offer high rewards, helping maintain the project’s speculative appeal.
Imagine if Polymarket was a meme coin. That’s essentially what we have here.
However, FreeDum Fighters also has a serious element. Users can engage in weekly political debates, crafting arguments on political matters to receive even more airdrop points.
The rise of PolitiFi meme coins and prediction markets has had a significant impact on the US political system, receiving widespread coverage in the most prestigious media outlets.
Now, FreeDum Fighters blends these two closely related use cases into one cryptocurrency. The presale has raised $100K so far and is currently priced at $0.00005. However, this will rise as the campaign advances.
Visit FreeDum Fighters Presale
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