Can The MAGA Hat Price Rally Reach $1 As Trump Leads Biden in Georgia Poll
Maga hat price surged by 28% in the past 24 hours to trade around $0.0003783 during European business hours. The recent uptick in price comes after Donald Trump led Joe Biden in recent Georgia polls. The two are slated to participate in a live debate on CNN in Atlanta on Thursday.
Maga Hat Price Gears Up for 290% Rally
MAGA price came out of a consolidation zone yesterday, surging to a high of $0.000442. The Trump-based meme coin launched in May but moved sideways between $0.000305 and $0.000173 for over two weeks before breaking out.
After hitting the recent high, the MAGA price has retraced a little, moving down in a retest fashion toward the top of the previous range. In the 1-hour chart, the MAGA price action is trending above the 50-day and 200-day simple moving averages (SMA), which present potential support levels around $0.000329 and $0.000277, respectively.
The MAGA relative strength index (RSI 14) is approaching its moving average (MA) in the 4-hour timeframe. The MA may act as a support for the RSI to bounce from and head further upward toward the overbought region. This is bullish for the meme coin as it signals a healthy correction for the meme coin.
The price of MAGA may bounce off the top of the range and head upward. If the bulls persist, MAGA’s price may surge by 119% to reach its previous all-time high price of $0.000777.
The daily timeframe, MAGA price action just confirmed a double bottom breakout pattern, further confirming the 119% rally from the current price to the previous all-time high.
On the way up, $0.000429, $0.00052, and $0.00066 may offer some resistance. On the flip side, Maga Hat price may find support around $0.000311, and below that, may re-enter the previous range, finding further support lower at $0.000175.
Can A Trump Win Push MAGA Price Over $1?
The recent surge in MAGA price coincided with Trump’s win in Georgia. Trump led Biden 43.8% to 39%, inciting bullish sentiment around Maga Hat price. The two contestants will face off on Thursday in a presidential debate hosted by CNN in Atlanta.
The daily trading volume of MAGA surged by 75, signaling an increase in investor interest.
Trader 0xc73 Makes Significant $MAGA Purchase, Marks Start of Third Trade!
In the past 24 hours, trader 0xc73 bought 810.578 million MAGA tokens for 250,000 USDT at an average price of $0.0003084.
Address:
0xc73a73e3bca0e0b944dc09bba6647aca552109ed
1/2 pic.twitter.com/CGz1ibynOQ
— EyeOnChain (@EyeOnChain) June 26, 2024
EyesOnChain, an on-chain insight firm, revealed a whale who is accumulating large amounts of MAGA ahead of the presidential debate. The whale had bagged over $250,000 worth of MAGA tokens in the last 24 hours, eliciting curiosity among on-chain observers.
Bottom Line
The possibility of the MAGA Hat price rally reaching $1 is fueled by the current political climate, especially with Trump leading Biden in the Georgia polls. If this momentum continues and Trump’s popularity grows, it could drive further interest and investment in other politifi tokens, potentially pushing prices higher. However, market conditions and external factors will ultimately determine if this rally can sustain and achieve the $1 mark.
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