The US presidential election is scheduled for November 5. With October already right here, meme cash tied to the highest 3 presidential candidates, dubbed “PolitiFi meme coins,” have seen explosive development amid the heightened political local weather.
Amongst them is MAGA (TRUMP), which the meme coin neighborhood inbuilt favor of former President Donald Trump. The opposite two embrace Kamala Horris (KAMA), which helps present Vice President Kamala Harris, and recently, Jeo Boden (BODEN), a token initially deployed when present President Joe Biden was nonetheless within the race.
MAGA (TRUMP)
Two weeks in the past, PolitiFi meme cash plummeted to their lowest factors in seven months. MAGA (TRUMP), which is reflective of Donald Trump’s Make America Nice Once more marketing campaign, additionally felt the warmth throughout that interval.
However within the final seven days, TRUMP’s worth has elevated by 75.60% and at the moment adjustments palms at $3.19. This renewed rally is linked to the hypothesis that the US presidential candidate might begin mentioning crypto of their marketing campaign although they’ve averted it in previous debates.
In keeping with the 4-hour chart, the latest resurgence was additionally validated by the golden cross on September 26. For context, a golden cross happens when the shorter Exponential Transferring Common (EMA) crosses above the longer one.
As seen beneath, the 20 EMA (blue) had crossed over the 50 EMA (yellow). Aside from that, the Relative Energy Index (RSI), which measures momentum, is now above the sign line and reinforces the bullish thesis.
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Ought to this stay the identical, TRUMP’s worth may breach the overhead resistance at $3.40. If that occurs, the meme coin’s worth may climb to $4.11 earlier than the US elections are available full drive.
Nevertheless, if Trump’s probabilities of successful the election drop considerably within the coming weeks, this forecast won’t occur. As a substitute, the token may decline to $2.35 if it fails to carry the assist line at $2.82.
Kamala Horris (KAMA)
KAMA’s worth is at the moment $0.0087, representing a 68.50% improve inside the previous week. The meme coin initially plunged to $0.0053 on Thursday, September 26. However since Kamala Harris reportedly displayed dedication towards crypto growth, the token has been rising.
Regardless of important features, the 4-hour chart suggests KAMA’s worth might face challenges in sustaining its upward development. That is primarily because of the Superior Oscillator (AO) and Transferring Common Convergence Divergence (MACD), each momentum indicators, turning downward.
As such, KAMA may expertise a pullback because it makes an attempt to hit $0.0090. If the meme coin doesn’t break above this level, a decline could possibly be subsequent.
In that state of affairs, KAMA’s worth may lower to $0.0075. Elevated shopping for stress and rising assist for Kamala Harris on the surface may change issues for the higher. Ought to that occur, KAMA may erase one zero and climb to $0.011.
Jeo Boden (BODEN)
Jeo Boden was a trending PolitiFi meme coin and registered notable upswings earlier within the 12 months. Nevertheless, after President Joe Biden dropped out of the race, BODEN’s worth crashed.
Issues are beginning to change once more, particularly because the token elevated by 62% within the final seven days. This uptrend means that, although Biden is now not a candidate, BODEN may stay a notable drive amongst PolitiFi meme cash.
As of this writing, BODEN’s worth is $0.0092. Primarily based on the 4-hour chart, the Bull Bear Energy (BBP) had hit increased inexperienced histogram bars. The BBP measures the energy of consumers to sellers. When it will increase, consumers (bulls) are in management, and the value may improve.
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Conversely, a damaging studying of the BB means that bears (sellers) are dominant. Contemplating the present situation, BODEN’s worth could possibly be set to climb to $0.011. Retracement to $0.083 may, nonetheless, occur if shopping for stress decreases.
Disclaimer
Consistent with the Belief Undertaking pointers, this worth evaluation article is for informational functions solely and shouldn’t be thought-about monetary or funding recommendation. BeInCrypto is dedicated to correct, unbiased reporting, however market circumstances are topic to alter with out discover. At all times conduct your personal analysis and seek the advice of with an expert earlier than making any monetary selections. Please be aware that our Phrases and Situations, Privateness Coverage, and Disclaimers have been up to date.
