As a seasoned researcher and investor with over two decades of experience under my belt, I have witnessed numerous events that have shaped the financial landscape. The recent string of assassination attempts against former President Donald Trump has undeniably left its mark on the crypto market, particularly on Trump-based tokens.
After the second attempted assassination on Donald Trump, the ex-president assured his followers that he was “in good health and safe.” The FBI responded to the incident at Trump International Golf Club in West Palm Beach, Florida, where Trump was playing golf. A suspect has already been apprehended and is currently being held in custody.
Two months ago, another attempt on Donald Trump’s life was made during a rally in Pennsylvania, and now another incident has occurred. Similar to the previous event, Trump showed resilience, telling his supporters, “I won’t be deterred. I will never back down! My love for you who support me remains unwavering.” Given this situation, how are PolitiFi tokens faring?
Second Donald Trump Assassination Impacts Crypto Tokens
After the recent event, the value of cryptocurrencies associated with Trump decreased. Despite displaying resilience, their prices continued to fall, suggesting a possible warning for their potential performance in November. Will MAGA, TRUMP, and TREMP see recovery, and when can we expect this recovery?
Maga Hat (MAGA)
Maga Hat is currently the second-largest digital token associated with Donald Trump, based on market capitalization. At present, it’s trading at approximately $0.00006116. Following the latest attempt on Donald Trump’s life, MAGA‘s price experienced a 7.2% decline, resulting in a total loss of 32.5% over the past week.
Despite fluctuations, the MAGA price graph indicates robust resistance near the $0.046 mark, which has previously prevented drops in price. Currently, MAGA has a market capitalization of $25 million and is 73% above its all-time low price. This situation might offer investors a chance to invest at a relatively lower level.
MAGA (TRUMP)
As an analyst, I’m observing a significant drop in the value of MAGA, the most prominent Trump meme coin. Currently, it stands at $2.12, a decrease of about 12.2% from its previous position. This is a stark contrast to its all-time high price of $17.07, representing a decline of approximately 87%. However, despite this recent fall, the original investors are still looking at an impressive return on investment, with profits roughly 184 times their initial investment.
According to the TRUMP price graph, it appears that the asset might keep falling until it reaches approximately $1.2, at which point it may try to rebound. If it continues to fall below this level, MAGA could potentially slide down to around $0.40-$0.70. This area shows a relatively stronger level of resistance that might change to support in the future.
Doland Tremp (TREMP)
Donald Tramp, boasting a modest market value of around $12 million, appears to have potential for a comeback. It currently ranks as the third largest coin mimicking Trump in terms of market capitalization, and at its current price point of $0.1231, it has experienced a minimal decrease of 2.9% over the last day.
Moreover, the cost has been consistently holding within an area of robust resistance, which it has tested on three occasions during the past month.
Despite each token having an equal potential for recovery, it’s likely that TREMP will rebound more quickly. Should it regain its footing from the current point, it could potentially meet resistance at around $0.20 before climbing further up to $0.55 and eventually reaching $0.8.
Conclusion
The potential impact on cryptocurrency prices today is primarily due to Donald Trump’s recent pro-crypto stance, suggesting that a victory for him in the upcoming elections could be beneficial for the crypto industry. Despite the controversy surrounding his upcoming presidential bid, Trump remains firm with the planned launch of his new crypto project, World Liberty Financial (WLFI), which is still set to proceed as scheduled.
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2024-09-16 11:54