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The MAGA price plunged 63% in the last 24 hours to trade at $1.65 as of 00:13 a.m. EST on trading volume that skyrocketed 122% to $84.7 million.
This comes as major PolitiFi tokens take a hammering, plunging 23% to a market capitalization of $520 million in the aftermath of Donald Trump’s win in the US election.
Against the expectations of many, tokens related to Trump slumped, with MAGA Hat dropping 54%, TREMP taking a 63% hit, and STRUMP 67.5%, according to CoinGecko.
MAGA Price Poised For A Bullish Trend Reversal
Just before the election results were finalized, the MAGA price rallied. It climbed to the upper boundary of the falling channel pattern as the bulls were looking for a breakout. However, the price of MAGA has now breached the lower boundary of the channel. Still, according to data from GeckoTerminal, TRUMP seems to be finding support at this level within the $1.60 support.
The recent significant correction has pushed the price of MAGA below both the 50-day and 200-day Simple Moving Averages (SMAs), which indicates a dramatic bearish trend.
Moreover, the Relative Strength Index (RSI) has dropped below the 30-oversold level, which shows that TRUMP is now under intense selling pressure and undervalued.
If the bears push the price of MAGA towards a sustained bearish trend, TRUMP could retreat to the $1.5 mark, which now acts as a cushion against downward pressure.
Meanwhile, the RSI now shows that the asset is undervalued, which may be a buying signal for the bulls. In such a scenario, if investors take more buying positions, TRUMP could soar towards the upper boundary of the falling channel at $3.44, which is also within the 50-day SMA.
As the MAGA price slumps, investors continue to buy new PolitiFi token FreeDum Fighters ($DUM), which is closing on $500k in its presale.
FreeDum Fighters Soars Past $445K
FreeDum Fighters takes a satirical look at the US election, combining humor and gamification to bring the blockchain version of the showdown between Donald Trump and Kamala Harris that was decided on Nov. 5 in Trump’s favor.
The project invites participants to vote and see who will emerge as the new world leader: MAGATRON, a mechanized version of Donald Trump, or Kamacop 9000, representing Harris.
A new presale is here, just got my bags ⚔️@Freedum_Fighter is a satirical, gamified token project inspired by the ongoing U.S. presidential election, offering a humorous take on political events 🇺🇸
They're running a HUGE giveaway, so join in now 👇 https://t.co/RGjC7nsfNa
— Myth (@mythdyor) October 17, 2024
Available on multiple blockchain platforms, including Ethereum (ETH), Binance Smart Chain (BSC), Base, and Solana (SOL), FreeDum Fighters uses its native $DUM token to let holders vote for their favorite candidate participate in debates, and stake tokens for rewards.
Voting in FreeDum Fighters involves staking in two pools representing the candidates. MAGATRON offers a huge 273% annual percentage yield (APY) compared to Kamacop 9000’s stratospheric 726% annual return.
DUM holders called the election well, with 66% backing Trump and only 34% supporting Harris.
According to the 99Bitcoin YouTube channel, which has over 706k subscribers, DUM is the next 100X meme coin.
If this looks like a project you don’t want to mis, visit the official FreeDum Fighters website to buy $DUM for $0.00007 per token using ETH, BNB, USDT, USDC, or SOL.
Buy before a price hike in about 2 days to secure the best deal.
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