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The MAGA price has plunged by 20% over the past 24 hours to trade at $5.92 as of 5:30 p.m. EST.
This comes after presidential candidate Donald Trump vowed to create a “strategic national Bitcoin reserve” and said he’d fire the anti-crypto Securities and Exchange Commission chair Gary Gensler if he retakes the White House in November.
”On day one, I will fire Gary Gensler,” he said in a speech at the Bitcoin 2024 conference in Nashville on July 27. “I pledge to the Bitcoin community that the day I take the oath of office, Joe Biden and Kamala Harris’s anti-crypto crusade will be over. Never sell your bitcoin,”
JUST IN: 🇺🇸 Donald Trump says, “The United States will be the crypto capital of the planet and the #Bitcoin superpower of the World.”
pic.twitter.com/5CNHY8hhQE— Bitcoin Magazine (@BitcoinMagazine) July 27, 2024
MAGA Price Review: How is MAGA Doing?
Looking at an in-depth analysis using CoinGecko data, we see that the price has experienced a significant drop from its recent high of $6.390. The current price is near the lower end of the recent trading range.
The Alligator indicator lines are bearish, with the Jaw above the Teeth and the Lips indicating a downtrend. The price is below all three lines, further confirming the bearish trend.
On the other hand, the Woodies Commodity Channel Index (CCI) is in negative territory, indicating that the asset is in a bearish phase. The CCI has recently shown volatility, with spikes indicating short-term buying and selling pressures, but overall, it remains in a bearish zone.
The chart does not explicitly show volume, but the price movement suggests that there have been significant sell-offs, especially noticeable during the recent decline from the high of $6.390.
MAGA Price Sentiment Appears Overall Bearish
The overall sentiment appears bearish, as indicated by the Alligator indicator and the negative CCI values. The price consistently trades below the Alligator lines, suggesting a need for upward momentum.
The immediate support level is around $5.780, close to the current price, while the immediate resistance is around $6.243 (Alligator’s Lips) and higher at $6.333 (Alligator’s Teeth).
The Alligator indicator shows a clear bearish trend with prices below all three lines. The CCI is also in negative territory, indicating bearish momentum. If the price breaks above the Alligator’s Lips ($6.243) and Teeth ($6.333), there might be a rebound, but current indicators suggest continued downward pressure.
4-hour MAGA/USDT chart | Source: TradingView
While investors flee MAGA, they are rushing to buy WienerAI (WAI), which is closing on $9 million in funds raised with only a little more than two days left in its presale.
One crypto whale invested $370,000 in the WAI token on July 27, ponying up 114.15 ETH, currently valued at about $370,000, to secure a significant holding in one of the most successful presales of the year.
A Meme Coin With AI Trading Powers
WienerAI (WAI) is a new meme coin that is launching an AI trading bot that uses cutting-edge technology.
Because it has been trained to analyze crypto markets, the project’s advanced computer models can find trade opportunities and secret clues in the market data.
Known as the ChatGPT of crypto, it allows token holders to input trading questions through its user-friendly interface and receive instant responses.
Traders can ask about market opportunities, and WienerAI responds with a list of potential trades and advice on the best decentralized exchange to execute them on. Traders can then execute trades directly from the chatbot interface.
WienerAI explains the thinking behind its recommendations, offering a useful learning experience for users.
It is easy to see why YouTube channel Crypto Gains, with 135,000 subscribers, recently told investors not to miss out on WAI before its presale ends.
Holders who stake WAI tokens can also gain from a 141% annual yield.
WienerAI army is getting ready to be released … 🌭🌭🌭 pic.twitter.com/ns1gO37V6n
— WienerAI (@WienerDogAI) July 25, 2024
Investors interested to join the project need to act quickly because WAI’s presale ends in less than 3 days.
Buy WAI on the official website here with ETH, USDT, BNB, or a bank card. The tokens cost $0.00073 each.
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