The Political Meme coins have gained significant traction over the past few days. Moreover, top Trump-based tokens have recorded a double-digit surge. This highlights an increase in the investor’s interest in these cryptocurrency projects.
With only 20 days remaining, is it a crucial time to hold these memecoins? Dive in as, in this article, we have covered the market sentiments and social sentiments of the most volatile category of the crypto space.
The MAGA price has jumped ~7% in the past day with a trading volume of $5.57 million. Moreover, it has jumped 11.23% over the past week and 119.45% during the past 30 days. With a YTD return of 1,593.31%, it has a market cap of $203.63 million.
If the market continues gaining momentum, the TRUMP price could retest its upper resistance level of $9 during the upcoming weeks. Conversely, if the bears outrun the bulls, this memecoin could retest its lower support trendline of $1.5 this month.
Despite Kamala Harris not endorsing the cryptocurrency industry, multiple political meme projects are inspired from here. Notably, most of the projects have a self-reported market capitalization and are not verified. These make such tokens highly volatile.
The project is reportedly promoted by Donald Trump and his sons and has experienced technological issues post-token sale on Tuesday. The token went live this morning to investors on its official website and experienced outages. Reportedly, more than 500 million of the ETH-based tokens were sold for $0.15 each.
Over the weekend, Trump touted the sale in a post on the “X” platform. Notably, its official accounts on “X” and “Telegram” have not yet posted about the sale on Tuesday. The Trump-backed crypto project is part of the decentralized finance segment of digital assets and launched a day after the second assassination attempt.
Furthermore, the early white paper had a disclaimer that said it is “not owned, managed, operated or sold” by the Trump family or his organization.
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