2 Altcoins That Could 2x Ahead of US Presidential Elections

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As a seasoned market analyst with over two decades of experience under my belt, I must say that the current surge in politically-themed altcoins is a fascinating development. Having witnessed numerous market cycles and trends, I’ve learned to appreciate the unpredictability inherent in the crypto space.

With the US Presidential election approaching, cryptocurrencies based on political memes are becoming more popular. As uncertainty rises, certain tokens have seen substantial increases in value, while others maintain their stability. The growing interest underscores the close relationship between U.S. politics and crypto investments, potentially offering investors a chance to double their returns.

Top 2 Altcoins That Could Double Ahead of US Elections

As the 2024 U.S. elections approach in just 12 days, there are two cryptocurrencies themed around politics that show signs of substantial growth potential. These currencies, modeled after political figures, have experienced considerable price drops but may surge as market optimism grows, possibly doubling their worth.

MAGA (TRUMP)

Currently, MAGA (TRUMP), a digital currency tied to the MAGA movement, stands at 290th position worldwide among all cryptocurrencies. Over the last seven days, its trading activity has seen some ups and downs as investors revise their strategies. The value of MAGA has ranged from $5.5 to $3.3 recently. Despite a recent downturn in market sentiment, MAGA continues to be one of the top performers among meme coins categorized under PolitiFi.

At present, the coin is valued at $3.34, and there’s been a 7% jump in its price over the past day. Notably, since its debut, MAGA has witnessed an astounding rise of 20,046%. As the US presidential elections approach, this puts it high up on the list of popular altcoins based on political memes.

If the bullish reversal happens, there’s a possibility that the TRUMP coin might revisit the $5 resistance point this month. On the other hand, if bearish forces persist, its price could slide towards the significant low of $3. The meme coins linked to political candidates have displayed remarkable volatility lately, and as the US election draws near, this volatile trend is predicted to carry on. As investors prepare for potential market changes, altcoins such as MAGA remain a significant point of interest in the run-up to the 2024 election.

Constitution DAO (PEOPLE)

As a crypto enthusiast, I’ve witnessed an astounding 1981% jump in the value of Constitution DAO (PEOPLE), a meme-driven altcoin, since its debut. Despite some ups and downs in the market recently, it has managed to gain a modest 2% over the past week.

Based on CoinmarketCapData’s rankings, PEOPLE, currently positioned at 143rd, is being viewed as an altcoin that might potentially double in worth before the upcoming US presidential elections. At this moment, the token is valued at approximately $0.07907, representing a minor decrease of 1% during U.S trading hours.

Based on technical analysis, there’s a possibility that if bearish trends persist, the price of PEOPLE might fall to the support level of approximately $0.075. If the market downtrend continues, it could potentially dip down to around $0.07. On the other hand, a fresh wave of bullish momentum might help PEOPLE break through its resistance at $0.08.

Keeping up the current pace, there’s a possibility that the token’s worth might climb to around 0.1 USD prior to the U.S. elections. The continual fluctuations in price underscore the usual volatility typical of the cryptocurrency trading realm.

As the U.S. Presidential elections draw near, the increasing attention on political meme tokens could open up significant possibilities. With market conditions changing, these alternative coins might persistently expand or stabilize. It would be wise for investors to closely monitor these tendencies as the election date arrives.

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2024-10-24 15:30