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The Maga Hat value plummeted over 37% within the final 24 hours to commerce at $0.00008965 as merchants shift their focus away from the political meme coin.
The drop within the MAGA value follows Donald Trump’s US election victory yesterday. Though the broader crypto market cap surged, tokens linked to the incoming president collapsed.
Maga Hat Value Consolidates After Shedding A Key Assist
4-hour chart for MAGA/USD (Supply: GeckoTerminal)
The Maga Hat value misplaced the assist of the technical security internet at $0.00012193 within the final 24 hours. Now, the political meme coin is hovering above the following key assist at $0.00007139. MAGA remaining above this value level for the following 12 hours may result in a rebound, and the Maga Hat value may then attempt to reclaim a place above $0.00012193.
In a converse situation, the Maga Hat value dropping beneath $0.00007139 may spell catastrophe for the political meme coin. Merchants may find yourself panic promoting, pushing MAGA down much more within the quick time period consequently.
Technicals Warn The Maga Hat Value Drop Is Not Over But
technical indicators, there are warning indicators that time to a continued lower within the Maga Hat value. Sellers have a good grip on the meme coin’s worth, as prompt by the low Relative Power Index (RSI) studying. At present sitting within the low 30s, MAGA’s 4-hour RSI signifies that the meme coin is in oversold territory.
Though low RSI readings are normally seen as a purchase sign, the detrimental slope of the RSI line means that sellers may hold exerting stress on the Maga Hat value within the subsequent few hours.
The Transferring Common Convergence Divergence (MACD) indicator reveals that the Maga Hat value is in a bearish section, with the MACD line positioned beneath the MACD Sign line. Nonetheless, a bullish reversal of MAGA’s pattern could also be on the playing cards because the hole between the 2 indicators begins to shrink.
Given the detrimental slope of the RSI, the low RSI readings and the present orientation of the MACD traces, the Maga Hat value may drop some extra within the coming 24 hours.
Whereas MAGA tries to fend off bearish stress, a brand new political meme coin rival by the identify of FreeDum Fighters (DUM) is pulling traders in, not least due to its off-the-charts staking rewards.
The Final On-Chain Political Showdown
FreeDum Fighters (DUM) brings the American political conflict on-chain and provides traders a option to become involved in politics in a enjoyable and interesting manner. The only occasion within the venture’s ecosystem is the duel between Magatron and Kamacop, representing Trump and Kamala Harris, respectively.
Whereas Democrat Harris misplaced the presidential election, her backers can nonetheless rally behind the fictional Kamacop for the prospect of spectacular staking rewards. Anybody who votes/stakes DUM tokens for Kamacop in the course of the venture’s ongoing presale will unlock entry to a 724% Annual Proportion Yield.
In the meantime, Trump supporters can push for a repeat victory by staking tokens for Magatron for up 273% in annual rewards.Â
Along with the excessive staking rewards, an analyst from the 99Bitcoins YouTube channel believes DUM has nice speculative potential. In a video to the channel’s greater than 706K subscribers, the analyst stated the meme coin may surge 100X after its launch.
Traders Rush To Purchase DUM At Presale Costs
FreeDum Fighters has raised over $446K by means of its ICO thus far. There’s nonetheless time left to get in on the excessive staking rewards on supply.
Step one is to amass DUM tokens by way of the easy purchase widget embedded on the venture’s web site. Promoting for $0.00007, DUM may be purchased with both ETH, BNB, BASE, SOL, USDT or USDC.
Even with Trump successful as we speak…
The reveals goes on 🇺🇸 pic.twitter.com/42PGDOL8Ay
— FreeDum Fighters (@Freedum_Fighter) November 6, 2024
With every buy, traders can choose to have their tokens routinely staked on both Kamacop or Magatron for his or her related rewards.
patrons who need to lock in one of the best fee will need to act shortly, nevertheless, as a result of the token’s value is scheduled to extend in about 2 days.
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