Trump-related cryptocurrencies are making a comeback, particularly the Maga Memecoin, which has bounced back from its lows in September.
Trump meme
A popular crypto trader, known as Unipcs in the social media shared on X that he expects political memecoins to see a bigger rally in October.
Unipcs believes that both Maga Memecoin and other Trump-themed tokens could benefit from this hype.
Another trader, Davie Satoshi shared that the three-day stochastic relative strength index for MAGA shows a bullish trend.
The stoch RSI on the 3-day chart for $MAGA is looking very bullish. Here is a possible count of where $MAGA goes next along with some temporary resistance lines. Nothing is for certain and the timing may be off, but the structure seems sound that this is a wave 3 in the short… pic.twitter.com/SyVNNXdtvE
— davie satoshi (@NFTdavie) October 1, 2024
While there are some temporary resistance levels to watch, the overall chart suggests a promising potential even for a threefold increase in price from current levels.
“The stoch RSI on the 3-day chart for $MAGA is looking very bullish.”
Dogs are okay, but politicians? Really?
This news is important because political memecoins currently hold a combined capitalization of $652 million.
The interest in these tokens could be influenced by political events as we approach the 2024 election.
For example, Polymarket data shows that Kamala Harris has a 50% chance of winning the election, while Donald Trump stands at 48%.
