As the US presidential election approaches, the cryptocurrency market is abuzz with speculation about its potential impact. A victory for Donald Trump, considered a pro-crypto candidate, could significantly influence the future direction of the digital market. Here are five altcoins that could see significant growth if Trump wins the election.
5 Altcoins Expected to Soar If Trump Wins the Presidential Election
Millions of Americans will vote on Tuesday, November 5, to elect the 47th President of the United States. If Trump wins the presidency, his policies could create a more crypto-friendly environment and spark further upside in the digital market. Here are five altcoins that could skyrocket if Trump wins.
XRP
XRP price has struggled with sideways action for years amid the Ripple v. United States Securities and Exchange Commission. A Trump victory could lead to a more favorable regulatory landscape for cryptocurrencies, which could potentially benefit XRP by reducing legal uncertainties.
At the time of going to press, the XRP price was trading at $0.518, with a market cap of $29.48 billion.
According to Feeling According to the data, the supply of XRP held by exchanges notably decreased from 3.3 million to 2.54 million, a drop of 23% over the last nine months. This decline indicates that more and more XRP is leaving exchanges and turning to private investors, marking a shift towards long-term holders.
Dogecoin (DOGE)
Dogecoin takes second place in our list of the best altcoins, after Donald Trump’s proposal to establish a plan to reduce federal spending – the “Department of Government Efficiency” (DOGE), with Elon Musk at its head.
Dogecoin Price Prediction currently boasts a trading value of $0.16 while holding a market capitalization of $23.64 billion.
Since August 2023, Dogecoin whales, with 10 million to 100 million coins, have increased their holding from 41.43 to 18.35 billion DOGE dollars. Historically, active accumulation by large holders has coincided with a major market bottom and sustained recovery.
MAGA (ASSET)
MAGA (TRUMP) is a meme-inspired cryptocurrency, taking its name from former President Donald Trump’s “Make America Great Again” slogan. Currently, TRUMP price is trading at $3.8 while maintaining a market cap of $167.65 million.
An analysis of the daily chart shows that the asset forms a well-known reversal pattern called cup and handle. If the uptrend continues, MAGA coin could surge 48% before even challenging the $5.5 neckline resistance.
MAGA hat (MAGA)
Among PolitiFi coins, MAGA Hat (MAGA) shows the potential for a high-momentum rally if Trump wins the presidential election in 2024. Ahead of the result, MAGA price gave a decisive breakout of the $0.0002 neckline of the Inverted head and shoulders pattern. Monday.
This chart pattern displays three main reversals or bottoms, indicating intact demand pressure. The crypto market today shows MAGA trading at $0.00021, seeking support from the broken neckline.
If the support holds, MAGA price could drop to zero and surpass $0.0012.
Doland Tremp (TREMP)
Unlike other altcoins, the name Doland Tremp (TREMP) is a satirical play on the name of former US President Donald Trump, reflecting its origins in internet culture and humor. On October 28, TREMP price gave a bullish breakout of the neck line resistance of a bull flag pattern.
The chart pattern is often spotted within an established uptrend, signaling the potential for an extended rally in the near future. Currently trading at $0.34, TREMP price is holding above the broken trendline, buyers could cause a rally above $1.
Conclusion
A Trump victory could create a more favorable environment for cryptocurrencies, especially altcoins like XRP, Dogecoin (DOGE), MAGA (TRUMP), MAGA Hat (MAGA), Doland Tremp (TREMP) which offer innovative solutions and faced regulatory hurdles.
Frequently Asked Questions (FAQ)
XRP, Dogecoin (DOGE), MAGA (TRUMP), MAGA Hat (MAGA), and Doland Tremp (TREMP) are among the top altcoins expected to see major gains due to Trump’s pro-crypto stance.
Dogecoin stands out for Trump’s proposal for a “Department of Government Efficiency” (DOGE), with Elon Musk suggested as leader
MAGA (TRUMP) is a meme-based cryptocurrency named after Trump’s “Make America Great Again” slogan. It showed upside potential of a 48% upside if a cup and handle pattern confirms a breakout.
Sahil Mahadik
Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a solid command of technical analysis, he keeps a vigilant eye on the daily price movements of major assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging field of cryptocurrencies, where he continues to explore opportunities driven by his passion for trading.
Disclaimer: Content presented may include the author’s personal opinion and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.
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