- MAGA crypto has outperformed BTC as Trump’s successful odds surged.
- The US election end result will decide whether or not MAGA crypto survives or not.
Though Bitcoin [BTC] has been one of the tracked ‘Trump trade’ given the previous president’s rising odds of successful 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 end result seems as prediction websites like Polymarket had been projecting, then MAGA and the associated cash may explode right into a wild rally.
US elections vs MAGA
As of press time, Polymarket’s odds of Trump successful stood at 66%, towards Kamala’s 34%. With a number of fashions and prediction websites pointing to larger probabilities of a Trump win, such an end result may set off one other wild run for MAGA crypto.
The above excessive conviction has remained giant, with whales inserting million-dollar bets on Trump’s doubtless win.
Curiously, the markets appeared to be leaning in the direction of the identical situation painted by prediction websites.
In accordance 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 worth ranges
If that’s the case, MAGA and associated cash like DJT may 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 may increase MAGA’s worth prospects.
Nonetheless, the sentiment dropped to the unfavorable 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 may 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 may even drop to zero. This makes subsequent week a pivotal second for MAGA and associated political memecoins.
Supply: MAGAUSDT, TradingView
