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The MAGA HAT price soared 18% in the last 24 hours to trade at $0.0002243 as of 5.15 a.m. EST on trading volume that skyrocketed 53% to $20.31 million.
This is an exciting time for MAGA holders, as the token just managed to breach the barrier at $0.00020 — a major resistance that held the token back from early July.
MAGA has now surged 42% in a week and 225% in the past month.
In other words, the token has been skyrocketing for a while now, but always, the resistance at $0.00020 stood in its way. Now, however, MAGA managed to go beyond it, likely as a result of the hype that the PolitiFi sector has seen lately.
Donald Trump’s popularity has seen another surge after his recent appearance on the Joe Rogan Experience podcast, which has already resulted in countless videos reviewing and dissecting each statement by the former president.
Many have speculated if the podcast might be a “game-changer” for Trump’s campaign, but in the crypto sector, Trump-related cryptos definitely got a boost after the episode had aired.
MAGA Price Prediction
As mentioned, the MAGA HAT price is skyrocketing, and it just breached a critical resistance. However, according to the token’s technical indicators, a correction might follow very soon, despite how much support the bulls have managed to amass.
The token’s Bollinger bands are wider than ever in the past few days, which is an extremely bullish signal. On top of that, the price is pushing the upper band, further expanding the gap between the two lines, and adding to the bullish sentiment.
However, the project’s Relative Strength Index (RSI) value’s performance is what suggests that a correction could be expected. The RSI has spent the last 24 hours fluctuating between the overbought zone, starting at the value of 70, and the neutral are at 50.
However, over the last several hours, the RSI value skyrocketed from 50 to nearly 80, venturing deeply into the overbought zone. Typically, when this happens, traders do not wait for too long before they engage in a sell-off, seeking to take profit. In doing so, they cause the price to correct, which is when they start buying again when the value drops.
With MAGA now deeply into the overbought zone, such a move could certainly be expected, although the sell-off is likely to get interrupted again once the RSI drops to the neutral area. MAGA is currently surrounded by too much hype for the buyers to wait for the RSI to sink to the oversold zone, although it would not be impossible for it to happen.
The only question now is whether the MAGA HAT price can turn the $0.00020 level into a support that would soften its fall once it finally arrives, or will the price drop below this level again, and spiral back down to the established support at $0.00015?
Promising Alternative To MAGA
Given that MAGA is now 585% above its all-time low, some investors may want to rotate into cryptos that have all their potential upside ahead of them.
One promising new token to consider in the PolitiFi space is the new FreeDum Fighters (DUM) presale, which has has just blasted past $325k in funds raised.
DUM is a satirical, gamified token project inspired by the ongoing US presidential election. It provides a parallel, humorous take on the current political event by pitting two fighters — MAGATRON and KAMACOP 9000 — against one another.
Investors (stakers) are the ones who get to elect the winner in this showdown though. The way the project works is simple: when investors join the project, they can choose to vote (stake) for either MAGATRON or KAMACOP.
Right now, MAGATRON, representing Donald Trump, has taken 75% of the votes, leaving a huge annual staking return of 327%. Underdog KAMACOP, on the other hand, has taken just 25% of the vote, leaving a stratospheric annual staking return of 1,380%.
YouTuber ClayBro, with 130k subscribers, speculates that quite a few millionaires are likely to come out of the current PolitiFi sector boom, with FreeDum Fighters alone offering 25x potential.
$DUM tokens are on sale for only $0.000055 apiece and can be bought with ETH, USDT, USDC, SOL, or BNB. Buy before a price hike in less than 2 hours to get the best deal.
Visit the official website here.
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