On November 5th today, as Americans head to the polls to vote for the President, several PolitiFi coins associated with the top two candidates are showing mixed results. Ahead of the vote, this day is crucial as some tokens may rally or risk disappearing after the results are announced.
Historically, the US election results are announced within hours of the polls closing, creating a whirlwind of anticipation and speculation for both voters and candidates. Here is a thorough analysis of the current situation for MAGA(TRUMP), Kamala Horris(KAMA), and Donald Tremp(TREMP).
MAGA(TRUMP)
MAGA is the highest market cap PolitiFi coin themed around Donald Trump. A few months ago, the market cap of TRUMP surpassed $100 million, and with concerns over Joe Biden's health, the former president's electoral prospects soared.
However, after the Democrats nominated Kamala Harris, the price of TRUMP declined. The meme coin is currently trading at $3.36, down 80% from its all-time high. The value of the cryptocurrency has decreased by 26% as the US election day approaches.
From a technical perspective, the Relative Strength Index (RSI) has fallen below the 50.00 neutral point. This decline indicates that the momentum around MAGA is bearish. If it persists, the price could continue to drop, reaching $2.61.
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However, if Donald Trump wins, the trend could reverse. In that scenario, the meme coin's value could surge to $5.69. But if the former president fails to win, the price of MAGA could plummet to its all-time low.
Kamala Horris (KAMA)
Over the past week, this Kamala Harris-themed meme coin has increased by 62%. This notable rise can be linked to betting odds reflecting the Vice President's recent gains in the polls, catching up to Trump.
However, in the last 24 hours, the price of KAMA has decreased by 3.60%, not maintaining the same performance. On the 4-hour chart, the Moving Average Convergence Divergence (MACD) has fallen into negative territory, indicating bearish momentum.
Additionally, the 12-day Exponential Moving Average (EMA), shown in blue, has crossed below the 26 EMA (orange), signaling the dominance of sellers. If this trend continues, the price of KAMA could drop to $0.0098.
On the other hand, if buying pressure increases or Kamala Harris wins, the trend could reverse. In that case, KAMA could rebound to $0.018.
Donald Tremp (TREMP)
Unlike KAMA and TRUMP, Donald Tremp is one of the few PoltiFi coins that has seen a notable surge on US election day. Since Sunday, November 3rd, the price of TREMP has increased by 20.22%.
Currently trading at $0.32, the Balance of Power (BoP) indicates that the bulls (buyers) are driving the meme coin's price higher. The BoP measures the power of buyers versus sellers. A decreasing index would suggest the bears (sellers) are in control.
In this case, the index has increased, meaning TREMP is experiencing a significant surge in buying pressure. If this trend continues, the meme coin's price could rise to $0.46.
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However, if the election results show Trump losing to Harris, the predictions may be invalidated. In that scenario, the price could drop to $0.20.
