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The MAGA Hat price has surged more than 65% in week, despite a 2% drop in the last 24 hours, to trade at $0.0002394 as of 6:14 a.m. EST as investors buy into the political meme coin ahead of the US election.
The slight correction in the MAGA price in the past day comes after Republican presidential candidate Donald Trump posed in a garbage truck dressed as a sanitation worker before a rally in Green Bay, Wisconsin.
The publicity stunt came in response to President Joe Biden seemingly calling Trump’s supporters “garbage.” Biden has said his remarks referred to one individual only.
MAGA Hat Price Hanging Onto Support
4-hour chart for MAGA/USD (Source: GeckoTerminal)
The MAGA Hat price is resting on the support level at $0.0002260. Should it break below this technical crutch in the next 12 hours, it could stand the risk of plummeting to the subsequent mark at $0.0001782 in the following 24 hours.
However, traders identifying the political meme coin’s current price as a buy opportunity could result in MAGA rebounding from the $0.0002260 support. Traders might subsequently end up pushing the crypto’s price to the next major resistance level at $0.0002892. Continued buy pressure should the meme coin reach this point could then lead to it rising to $0.0003524.
Technicals Warn The MAGA Hat Price Might Drop In The Short Term
From a technical perspective, indicators on MAGA’s 4-hour chart warn the political meme coin might drop in the coming 24 hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are showing negative signs.
During the last trading session, the MACD line dropped below the MACD Signal line. Traders usually see this specific technical event as an indication that a crypto has entered a short-term negative trend. What’s more, the MACD line is breaking away below the MACD Signal line. This suggests that MAGA’s bearish momentum is picking up steam.
RSI readings have also dropped from the low 60s to the current reading of 51, which could be seen as an indication of bulls losing their grip on the MAGA Hat price. Although still positioned bullishly above the 50 benchmark to suggest that buyers have the upper hand against sellers, the negative slope of the RSI line warns that bears could soon steal the advantage.
As the MAGA Hat technicals warn of an upcoming correction, investors are rushing to buy political meme coin rival FreeDum Fighters (DUM). YouTuber Jacob Bury recently told his 43K subscribers that the token might surge 10X after it launches.
A Lighthearted Take On The Upcoming US Presidential Elections
With the US presidential elections around the corner, investors are waiting in anticipation to see whether pro-crypto Trump will emerge victorious against his political rival Kamala Harris.
FreeDum Fighters (DUM) allows investors to participate in the political showdown on-chain, choosing between alternative candidates MAGATRON and Kamacop 9000 as they fight for supremacy.
Each character has a dedicated staking pool, which investors will need to stake tokens in to indicate which of the two they are backing. By supporting either one of the project’s fictional characters by locking up tokens in the associated staking pool, DUM holders stand to earn attractive rewards.
Currently, anyone who votes/stakes tokens in the Kamacop 9000 pool stands to earn up to 1,023% in annual rewards. Meanwhile, the pool linked to MAGATRON is offering backers a return of 301%.
Investors Rush To Buy DUM At Presale Prices
FreeDum Fighters has raised over $366K so far, signaling strong investor confidence in the project’s future.
Looks like Team Kamacop has taken the lead 🔵 https://t.co/9ALrtYFUrw
— FreeDum Fighters (@Freedum_Fighter) October 31, 2024
Anyone can unlock access to the attractive staking returns by simply purchasing and staking DUM on the token’s official website.
Selling for $0.00006, DUM can be bought with either ETH, USDT, BNB, BASE, SOL, or USDC. Once acquired, investors can then stake their tokens via the vote/stake page to gain access to the high rewards available to presale buyers.
Interested investors should buy before a price hike in a little more than 1 day.
Purchase and stake DUM on its official website here.
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