As Americans head to the polls today, November 5, to vote for the next president, several PolitiFi pieces tied to the two leading candidates are showing mixed performance. Regardless of their performance before the vote, this day is crucial in determining whether some of these tokens will rally after the results are announced or face potential extinction.
Historically, U.S. election results are often announced within hours of polling closing, creating a whirlwind of anticipation and speculation among voters and candidates. Here is an in-depth analysis of current conditions from MAGA (TRUMP), Kamala Horris (KAMA) and Donald Tremp (TREMP).
MAGA (ASSET)
MAGA is the Donald-Trump-themed PoliFi coin with the highest market capitalization. A few months ago, TRUMP market capitalization exceeded $100 million, and the former president’s election chances have soared amid worrying reports about Joe Biden’s health.
But after the Democratic Party elevated Kamala Harris to its candidate, TRUMP’s price plummeted. As of press time, the meme coin’s price is $3.36, representing an 80% drop from its all-time high. As US election day approaches, the value of the cryptocurrency has fallen by 26%.
From a technical point of view, the Relative Strength Index (ROI) fell below the neutral point of 50.00. This decline indicates that the momentum around MAGA is bearish. If it holds, the price could continue to fall, eventually reaching $2.61.
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However, if Donald Trump emerges victorious, the trend could change. In this scenario, the value of the meme coin could reach $5.69. But if the former president doesn’t win, then MAGA Price Could Drop at a historic low.
Kamala Horris (KAMA)
Over the past seven days, this Kamala Harris-themed meme piece has increased by 62%. This notable increase could be linked to the American vice-president get closer to Trump in the polls in recent days.
However, the last 24 hours did not bring the same performance as the KAMA price, which fell by 3.60%. On the 4-hour chart, the Moving Average Convergence Divergence (MACD) has fallen into the negative region, indicating bearish momentum.
Additionally, the 12-day exponential moving average (EMA), in blue, has moved below the 26 EMA (orange), indicating that sellers are in control. If this trend continues, KAMA price could drop to $0.0098.
On the other hand, if buying pressure increases or Kamala Harris wins, the trend could change. If this happens, then KAMA could bounce back at $0.018.
Donald Tremp (TREMP)
Unlike KAMA and TRUMP, Donald Tremp is part of the few PoltiFi coins with a notable increase on US election day. Since Sunday, November 3, the price of TREMP has increased by 20.22%.
Currently trading at $0.32, the Balance of Power (BoP) reveals that the bulls are driving up the price of the meme coin. BoP measures the strength of buyers versus sellers. When the reading declines, bears (sellers) have the upper hand.
But in this case, the reading has increased, meaning TREMP is experiencing a massive increase in buying pressure. If this trend continues, the price of the meme coin could rise as high as $0.46.
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Meanwhile, if the election results are released and Trump loses to Harris, the prediction could be invalidated. In this scenario, the price could drop to $0.20.
Disclaimer
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