Can MAGA (TRUMP) Token Sustain Its 68% Monthly Rally?
- MAGA token faces volatility amid US election tensions and trader uncertainty.
- Dormant wallet withdrawal signals potential strategic movements affecting market dynamics.
The current US election cycle has not only ignited political discourse but also intensified activity in the world of PoliFi tokens. The MAGA token, which saw a meteoric rise to $3.35 with a triple-digit surge earlier, is now down by 4% over the last 24 hours, trading at $3.07. This sudden drop follows a broader downturn in similar politically themed tokens such as PEOPLE, TREMP , and STRUMP, all facing declines ranging from 2% to 8%.
Despite this short-term drop, TRUMP remains up 68% for the month, perplexing traders with its volatility. The token’s correlation with political headlines suggests that the fluctuation may be driven by market sentiment linked to election news.
Just in: A dormant wallet has withdrawn 4.26M $TRUMP ( @MAGAMemecoin ) from #MEXC , after 2 months.
— Onchain Lens (@OnchainLens) October 23, 2024
This wallet had been inactive since its creation, but 20 minutes ago, it made a move, withdrawing 4.26M $TRUMP (valued at $13.9M) from #MEXC .… pic.twitter.com/EsGLJMeu2c
Meanwhile, a dormant wallet’s recent activity added fuel to the speculation. After two months of inactivity, this wallet withdrew 4.26 million TRUMP tokens (worth $13.9 million) from the MEXC exchange, prompting theories about possible election-related strategic plays.
What MAGA Traders Can Look Forward?
Technical indicators for MAGA (TRUMP) suggest that the token is testing a support level around $3, with resistance near $3.40. A breach below support could result in further losses, while holding this level might signal a potential rebound, especially as political drama surrounding the elections continues to unfold.

Traders remain cautious but hopeful that political developments and social media buzz could drive the next wave of growth for MAGA and other PoliFi tokens . Given the high sensitivity to news cycles, market players are likely to rely on sentiment-driven strategies in the near term.
The daily RSI of the MAGA is at 46, indicating that is nearing oversold condition, stressing the prevailing bearish momentum.
With elections around the corner, both the political and crypto landscapes are expected to stay intertwined, with tokens like MAGA poised to react to even the slightest shift in electoral momentum. As always, market participants should brace for continued volatility.
Highlighted News Of The Day
Vitalik Buterin Charts Ethereum’s Next Phase with ‘The Verge’
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Cardano ($ADA) Google Searches Surge to 12-Month High
Cardano ($ADA) search interest hits a 12-month high on Google Trends, signaling growing investor curiosity.What This Means for Cardano’s Future

Did Peanut the Squirrel’s Run Slip Away? BTFD Coin’s Bulls Squad Is Exploding—Join Before It’s Too Late
Meme coins have taken over the crypto space, transforming internet culture into high-value assets.BTFD Coin’s Bulls Squad Is Leading the Meme Coin RevolutionPeanut the Squirrel—A Social Media Star Turned Meme Coin SensationFinal Words

Cardano ($ADA) Surges in Popularity with 224K Mentions
Cardano ($ADA) saw over 224K mentions in the last 7 days, signaling growing interest and engagement in the crypto space.$ADA Mentions Soar to 224K in a WeekWhat’s Driving the Hype?Could This Impact ADA’s Price?

Arctic Pablo Coin’s $0.000070 Entry Could Turn $1K into $114K—While Apu Apustaja & Act I: The AI Prophecy Make Waves in the Market
Explore the best new meme coins to join for long-term gains! Arctic Pablo Coin's presale explodes, Apu Apustaja surges, and Act I: The AI Prophecy takes AI crypto by storm.Earn While You Hold: Arctic Pablo Coin’s 66% APY Staking and Referral IncentivesApu Apustaja Surges as Community Interest PeaksAct I: The AI Prophecy Gains Traction as AI Crypto BoomsFinal Thoughts—Why Arctic Pablo Coin Stands Out

Trending news
MoreCrypto prices
More








