{"id":526541,"date":"2024-05-28T15:01:32","date_gmt":"2024-05-28T15:01:32","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=526541"},"modified":"2024-05-28T15:01:32","modified_gmt":"2024-05-28T15:01:32","slug":"maga-price-prediction-maga-slumps-20-as-this-2-0-meme-coin-with-a-324-staking-return-offers-a-last-chance-to-buy","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/maga-price-prediction-maga-slumps-20-as-this-2-0-meme-coin-with-a-324-staking-return-offers-a-last-chance-to-buy","title":{"rendered":"MAGA Price Prediction: MAGA Slumps 20% As This 2.0 Meme Coin With A 324% Staking Return Offers A Last Chance To Buy"},"content":{"rendered":"

The MAGA price dropped 20% in the last 24 hours to trade at $0.0004902<\/a> as of 5 a.m. EST on trading volume that surged by 21% to $434.9 million.<\/p>\n

MAGA (MAGA) is a meme coin that parodies cryptocurrency MAGA (TRUMP).<\/p>\n

Both MAGA and TRUMP tokens skyrocketed following the former president’s pro-crypto remarks recently. Right now, $MAGA has seemingly found stability after a 226% pump in the past week, although its price has dropped below the $0.00050 mark.<\/p>\n

MAGA Price Prediction<\/h2>\n

The MAGA price skyrocketed around May 25, surging constantly over the next few days, and breaching one resistance after the other.<\/p>\n

However, looking at the project’s chart now, it is clear that the correction has started. The big question now is when it will end, and what that means for the traders.<\/p>\n

Certain technical indicators such as Bollinger bands still show bullish signals when it comes to the price of MAGA. While the price has approached the lower band, the bands still remain extremely wide.<\/p>\n

\"MAGA<\/p>\n

However, the project’s Relative Strength Index (RSI) value has gone from extremely overbought two days ago, to neutral yesterday, to oversold today. This shows how traders have moved to sell the token over time, driving its price further and further down.<\/p>\n

However, a low RSI, meaning the RSI that dropped to the oversold zone, could actually be a good thing. Traders who keep an eye on technical indicators like the RSI value might see it as a signal to buy the dip, meaning that they might make a move soon.<\/p>\n

If this happens, it is likely that MAGA price might start seeing recovery over the next few days. It is currently unclear whether the RSI value will continue to drop a bit further or if the traders will react quickly now that the value has reached the level of 33.23.<\/p>\n

In terms of price, this might allow MAGA to climb back up above the value of $0.00050, and potentially go back to $0.00060 before long. However, it is equally possible that the token will continue to fall further, heading toward $0.00040, if it fails to breach the resistance at $0.00050 and its price gets rejected.<\/p>\n

Promising Alternatives to MAGA<\/h2>\n

With MAGA on a downtrend, other meme coins might provide a better alternative. One example is Sponge (SPONGE)<\/a>, which created a V2 for its project, making it bigger and better than the original.<\/p>\n

The original sponge launched in 2023, only to see a massive 100x pump that placed it on the map, drawing in new traders and investors. However, since then, its team has decided to discontinue the project and launch a new version called Sponge V2.<\/p>\n