Americans will go to the polls today to cast votes for their next president, and the Trump-themed meme coin MAGA (TRUMP) is thriving.
But how far can it go this week, and does it have a future once the election hype has died down?
The world is watching the US elections, so Trumped-themed MAGA has a shot at big gains.
However, massive price swings in both directions are likely.
This is the first time we’ve had PolitiFi meme coins around an election, so traders are making hasty moves as new data is released, aiming to maximize gains and protect the downside.
If Harris wins—or it looks like Harris is going to win—Trump-themed tokens could suffer.
If Trump wins, a “blow off top” could well occur, but traders should not rule out a “sell the news” event.
The main issue for MAGA (TRUMP) is its hyperpartisan nature.
While this is an excellent community-build trait, it creates a strong divide and dependency on the election outcome, causing hyper-speculation and volatility.
This is evident on TRUMP’s price chart, with significant swings in both directions.
Nevertheless, sentiment remains high.
Crypto Love notes that TRUMP is trading inside an ascending triangle, and it will break to the upside in the coming days. Based on the analyst’s price chart, we could see TRUMP push beyond $15.
However, other traders are even more bullish. Crypto General suggests that TRUMP is about to undergo its next macro rally, propelling it to highs of $54.
Given that the price reached highs of $17 far before the election, we cannot rule out a parabolic rise toward new highs.
In our bull case, TRUMP would retest old highs between $15 and $17, and a breakout could enable the next phase of the uptrend, potentially to Crypto General’s target.
But as mentioned, the main issue to watch for with MAGA (TRUMP) is its hyperpartisan nature. This could cause significant volatility, which it may not be able to recover from in a post-election world.
We may also see a “sell the news” event in which a Trump victory has already been priced in.
With that in mind, a new PolitiFi alternative to consider is FreeDum Fighters. The project is causing a buzz in its presale and offers comedic representations of both candidates.
FreeDum Fighters embraces the spectacle of US politics with satire, massive community rewards, and amusing artwork.
But at the same time, it’s breaking the mold of PolitiFi with a slew of new use cases.
It offers predictive staking pools, where users can contribute their tokens to MAGATRON or Kamacop 9000 and earn rewards based on who wins the election.
67% of tokens are in the MAGATRON pool, which shows that FreeDum Fighters users are confident in a Republican Party victory.
This predictive staking model could also evolve beyond the presidential elections, potentially offering markets for other politics-related events, such as trade deals and local elections.
Another innovative feature is FreeDum Fighters’ weekly debates, in which users can craft compelling arguments to win $DUM rewards.
The project also has a referral mechanism and a hilarious “Ask Joe” AI chatbot.
Analysts believe this has huge potential. For instance, the 99Bitcoins YouTube channel says it could 100x.
The project remains in its presale, so the analyst’s 100x prediction reflects the market’s long-term outlook for this bipartisan PolitiFi token.
Currently, investors can buy $DUM at presale for $0.000065, but this price will rise throughout the ICO.
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