- MAGA crypto has outperformed BTC as Trump’s profitable odds surged.
- The US election consequence will decide whether or not MAGA crypto survives or not.
Though Bitcoin [BTC] has been probably the most tracked ‘Trump trade’ given the previous president’s rising odds of profitable the US election, different cash like MAGA crypto have additionally benefited.
The memecoin surged by 33% prior to now seven buying and selling days, outperforming even BTC, which rallied about 6% over the identical interval.
Nonetheless, if the US election consequence seems as prediction websites like Polymarket have been projecting, then MAGA and the associated cash might explode right into a wild rally.
US elections vs MAGA
As of press time, Polymarket’s odds of Trump profitable stood at 66%, towards Kamala’s 34%. With a number of fashions and prediction websites pointing to greater probabilities of a Trump win, such an consequence might set off one other wild run for MAGA crypto.
Supply: Polymarket
The above excessive conviction has remained massive, with whales putting million-dollar bets on Trump’s seemingly win.
Curiously, the markets appeared to be leaning in the direction of the identical situation painted by prediction websites.
In line with buying and selling agency QCP Capital, BTC and crypto may benefit greater than US equities if Trump wins the elections. The agency acknowledged,
“Rising odds of a Trump victory have bolstered both stocks and Bitcoin. We believe BTC is particularly well-positioned to benefit in the medium term compared to equities.”
MAGA key value ranges
If that’s the case, MAGA and associated cash like DJT might explode, too, and even outperform BTC once more.
At press time, social quantity for MAGA had hiked to a two-month excessive, indicating robust traction and curiosity in social media channels. This traction might enhance MAGA’s value prospects.
Nonetheless, the sentiment dropped to the destructive territory, indicating market’s short-term warning on the memecoin.
Supply: Santiment
MAGA was valued at $4.3 on the worth charts at press time. Nonetheless, an explosive transfer might push in the direction of $12, a July and bearish order block which may act as a key resistance and roadblock. If that’s the case, that might set off a 200% potential rally.
But when Trump doesn’t win, MAGA might even drop to zero. This makes subsequent week a pivotal second for MAGA and associated political memecoins.
Supply: MAGAUSDT, TradingView
