As the year 2024 approaches, the crypto market is set to witness new trends and influences, especially with the upcoming US presidential election. Attention is turning toward the potential rise of politicized memecoins, driven by high-profile political events. In this piece, we examine the coins that could surge following Trump's speech at the Bitcoin 2024 Conference.
TRUMP (MAGA)
TRUMP (MAGA) is currently trading between $5.84 and $9.13, showing signs of weakened bullish momentum. The price has dipped 6.25% over the past week and has slid nearly 29% in a month. However, it has surged over 341% in six months. The nearest resistance level is $10.81, while support is at $4.22. However, Trump's speech on Bitcoin conference may bulls reclaim strength, the coin could rise to the second resistance at $14.11, a potential 57% increase from the upper range of its current price. The Relative Strength Index (RSI) and Stochastic levels indicate cautious but possible upward movement.
Super Trump (STRUMP)
Super Trump (STRUMP) is under pressure with bears leading the show. Priced at around a penny, it's below short-term averages. With a week-on-week drop of over ten percent and a month-on-month decline reaching beyond twenty percent, the outlook is shaky. However, over six months, it shows impressive gains near ninety percent. Potential for growth hinges on overcoming resistance at two and three pennies, which could mean a climb of over one hundred percent from current levels. But Trump's possible election victory suggests that STRUMP could rise significantly, providing a much-needed rally for bullish investors.
Kamala Horris (KAMA)
Kamala Horris (KAMA) is struggling as its price has dropped by about a quarter in the past week, month, and six months, indicating a weak bull presence. The cryptocurrency's current price movement shows it is hovering below its 10-day simple moving average of $0.03058, with trading indicators like RSI at 49.41 and Stochastic at 44.40 suggesting a neutral trend. However, on the back of the US presidential election, there is potential for KAMA to rise. If it can bounce back, it might aim to break its nearest resistance level and could see a potential rise in the low double digits percentage-wise. Its ability to climb will heavily depend on surpassing key resistance steps and market support.
Conclusion
The 2024 US presidential election and key events like Trump's speech at the Bitcoin 2024 Conference could significantly influence the rise of politicized memecoins. TRUMP (MAGA), currently trading between $5.84 and $9.13, shows potential for a 57% increase if it surpasses resistance levels. Super Trump (STRUMP) faces bearish pressure but could climb over 100% if it breaks resistance after the conference. Kamala Horris (KAMA) also struggles but might rise with election momentum, depending on market support and resistance levels. Investors should keep an eye on these coins for potential growth in the next market cycle.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
