- MAGA crypto has outperformed BTC as Trump’s winning odds surged.
- The US election outcome will determine whether MAGA crypto survives or not.
As an analyst with a decade of experience in the crypto market and a keen eye for political trends, I find myself intrigued by the surge of MAGA crypto amidst the US election fervor. The memecoin’s 33% rally outperforming even BTC is a testament to the power of hype and speculation in the digital asset space.
Despite Bitcoin [BTC] being closely watched as a ‘Trump trade’ due to the increasing likelihood of Donald Trump winning the U.S. election, other cryptocurrencies such as MAGA crypto have also seen positive effects.
Over the last seven trading days, I’ve seen my investment in this memecoin skyrocket by an impressive 33%. Even Bitcoin, which typically leads the market, only managed to rally around 6% during the same timeframe. This memecoin is really proving its mettle!
If the predictions made by platforms such as Polymarket about the U.S. election prove accurate, it could lead to a frenzy of growth for MAGA and associated cryptocurrencies.
US elections vs MAGA
At the current moment, the probability of Trump winning according to Polymarket is 66%, while it’s 34% for Kamala Harris. Many forecasting tools and prediction platforms indicate a higher likelihood of Trump’s victory. This potential result could spark another volatile surge in MAGA cryptocurrency.
The strong belief that Trump will win persists among the big investors, who have made significant million-dollar wagers on this outcome.
It’s worth noting that the markets appear to be favoring a similar outlook as suggested by forecasting websites.
As per QCP Capital’s analysis, Bitcoin (BTC) and cryptocurrencies might see greater gains compared to U.S. stocks if Donald Trump wins the upcoming elections, according to their statement.
As a researcher examining current market trends, I find myself intrigued by the growing likelihood of a Trump victory, which seems to be having a positive impact on both traditional stock markets and Bitcoin. In my opinion, it’s Bitcoin that stands out as particularly poised for success in the near future compared to equities.
MAGA key price levels
If so, MAGA and related coins like DJT could explode, too, and even outperform BTC again.
As we speak, the buzz surrounding MAGA on social media platforms has soared to its highest point in two months, signaling significant engagement and curiosity. Such momentum might potentially elevate MAGA’s future value.
However, the sentiment dropped to the negative territory, indicating market’s short-term caution on the memecoin.
Currently, MAGA is worth approximately $4.3 according to the price charts at this moment. But, there’s a possibility of a powerful surge that could potentially take it up to $12. This move might encounter resistance from an order block set in July, which could act as a significant obstacle. If this happens, it could initiate a potential 200% price increase.
But if Trump doesn’t win, MAGA could even drop to zero. This makes next week a pivotal moment for MAGA and related political memecoins.
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2024-10-30 08:25