These 3 PolitiFi Meme Coins Witness Significant Gains as the US Elections Approach
The upcoming US presidential election on November 5 has sparked a surge in popularity for meme coins related to the top 3 candidates. Referred to as “PolitiFi meme coins,” these tokens have experienced exponential growth amidst the intensifying political climate.
One of these meme coins is MAGA (TRUMP), which was created by the meme coin community in support of former President Donald Trump. The other two coins are Kamala Horris (KAMA), endorsing current Vice President Kamala Harris, and Jeo Boden (BODEN), which emerged when President Joe Biden was still a candidate.
Recently, PolitiFi meme coins experienced a significant drop in value, reaching their lowest point in seven months. MAGA (TRUMP) also suffered during this period, but in the past seven days, its price has skyrocketed by 75.60%. Currently priced at $3.19, this rally is attributed to speculation that the presidential candidate may start addressing cryptocurrencies in their campaign, a topic they have previously avoided in debates. Technical analysis suggests that if this trend continues, TRUMP’s price might breach the resistance level at $3.40 and potentially climb to $4.11 before the US elections.
Similarly, KAMA’s price has surged by 68.50% in the past week and currently stands at $0.0087. After initially plunging to $0.0053, the meme coin gained momentum as Kamala Harris expressed her commitment to crypto expansion. However, the 4-hour chart indicates potential challenges for KAMA’s upward trend, with momentum indicators suggesting a possible pullback. If KAMA fails to break above $0.0090, its price could decline to $0.0075, but increased support for Kamala Harris could reverse this trend and propel the coin to $0.011.
Despite President Joe Biden dropping out of the race, BODEN, another PolitiFi meme coin, has witnessed a remarkable uptrend, rising by 62% in the past week. Currently priced at $0.0092, BODEN’s strength lies in the Bull Bear Power indicator, which indicates a dominance of buyers (bulls) in the market. This suggests that even without Biden as a candidate, BODEN could remain a significant force among PolitiFi meme coins. If the bullish momentum continues, BODEN’s price could climb to $0.011; however, a decrease in buying pressure might lead to a retracement to $0.083.
As the US presidential election draws near, these PolitiFi meme coins have captured the attention and investment of many, with the potential for further gains or losses depending on the candidates’ prospects.