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The Maga price plunged over 13% in the last 24 hours to trade at $1.49 as of 4:38 a.m. EST as investors decrease their exposure to the political meme coin.
The drop in the TRUMP price comes even after US President-elect Donald Trump announced the appointment of Tesla founder Elon Musk and Vivek Ramaswamy to lead a new government department called the Department of Government Efficiency (DOGE).
— Elon Musk (@elonmusk) November 13, 2024
Maga Price Rejected By A Major Resistance
4-hour chart for TRUMP/USD (Source: GeckoTerminal)
The Maga price was rejected by the $2.0276 resistance level in the last 24 hours. As a result, the meme coin is now approaching the closest support level at $1.1591. Should the meme coin drop below this technical safety net, it could stand the risk of plunging to as low as $0.3671 in the short term.
In a more bullish scenario, the MAGA price maintaining a position above the $1.1591 support for the next 12 hours could lead to a rebound in the crypto’s price. Traders might then enter into a long position for TRUMP, which could be followed by another challenge at the aforementioned $2.0276 barrier. Breaking above this level could then lead to TRUMP rising to $3.0495.
Maga Price Might Keep Falling As It Loses Technical Strength
From a technical standpoint, indicators on TRUMP’s 4-hour chart warn that the meme coin’s price might continue to drop through the course of the next trading day. Both the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) indicators are flashing bearish.
Over the past 24 hours, RSI readings have dropped from 49 to 39, indicating a decrease in the buyer strength. Additionally, the current reading below the 50 benchmark suggests sellers have the upper hand on TRUMP’s 4-hour chart, which could lead to a continued drop in the Maga price if they choose to capitalize on their dominance.
Meanwhile, a major bearish technical flag is on the verge of being triggered by the MACD. Recently, the MACD line has started collapsing towards the MACD Signal line. If the gap keeps shrinking, it could lead to a bearish crossover between the two indicators.
Traders usually interpret the MACD line dropping below the MACD Signal line as an indication that a crypto has entered into a bearish cycle. Therefore, the MACD crossing below the MACD Signal line might lead to panic selling from traders looking to minimize their potential downside risk.
With TRUMP at risk of falling even more in the coming 24 hours, investors are shifting their focus to a new PolitiFi meme coin by the name of FreeDum Fighters (DUM), which the 99Bitcoins YouTube channel, with over 706K subscribers, says could soar 100X after launch.
Taking The Trump-Harris Rivalry On-Chain In Round 2 Of The Political Clash
FreeDum Fighters (DUM) aims to offer investors a lighthearted take on the US elections. Although the highly-anticipated event has come to an end with pro-crypto Trump scoring the victory, the political clash is still very much alive on-chain.
Not only does FreeDum Fighters give Kamala Harris supporters a second chance at a win, it also offers investors access to high staking rewards. The project is unique in the fact that it makes two staking opportunities available to early buyers, with conventional ICOs only offering one staking APY.
The staking APY that investors will unlock depends on which of the project’s fictitious political characters they back in the ultimate on-chain battle for supremacy. In one corner is Magatron, representing Trump. Harris is represented by Kamacop in the other corner.
To start earning passive rewards, investors will simply need to stake DUM tokens in the staking pool belonging to their chosen character. Magatron offers his backers up to 266.97% in annual rewards. On the other hand, Kamacop offers her supporters a much higher 657.77% staking APY.
Investors Rush To Buy DUM At Presale Prices
FreeDum Fighters has already raised over $486K through its ongoing ICO, signaling strong investor confidence in the project’s future at this early stage.
We have our winner of the $DUM debate #1:
The winner is Kamacop 9000, for debating against the statement:
MAGATRON's hair is the pinnacle of American engineering. Just like McDonald's is the pinnacle of American cuisine.All prizes will be paid at a later time closer to TGE. https://t.co/kKH0T0dtDU
— FreeDum Fighters (@Freedum_Fighter) November 13, 2024
Anyone who wants to get in on the project before it launches can do so by purchasing DUM using the buy widget embedded on the project’s website.
Currently selling for $0.000075, DUM can be bought with either ETH, BNB, BASE, SOL, USDT or USDC.
Once purchased, investors can then stake their tokens in either Magatron or Kamacop’s pool to gain access to the high staking rewards offered by each character.
Buy before a price hike in less than 7 hours to secure the best deal.
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