Today, November 5, as Americans head to the polls to vote to elect their next president, several PoliFi coins linked to presidential candidates are showing a mixed performance. Although the performance of these altcoin projects before election day is important, with the announcement of the results, it is a day when some will experience a great rise, while others will face potential extinction. Historically, U.S. election results are usually announced within a few hours of polls closing. This situation creates a great wind of expectation and speculation among voters and candidates. Here is the current status of MAGA (TRUMP), Kamala Horris (KAMA) and Donald Tremp (TREMP) coins, according to analyst Victor Olanrewaju…
First altcoin on the list: MAGA
MAGA has the highest market cap among the Donald Trump-themed PoliFi coins. A few months ago, TRUMP’s market cap had surpassed $100 million and the former president’s election chances were on the rise amid alarming reports about Joe Biden’s health. However, as the Democratic Party put forward Kamala Harris as its candidate, TRUMP’s price began to decline. As of now, the price of the meme coin has fallen to $3.36, representing an 80% decline from its all-time high. As we head into US election day, the value of crypto has decreased by 26%.
From a technical perspective, the Relative Strength Index (RSI) has fallen below the neutral point of 50.00. This decline indicates that the momentum around MAGA is trending downward. If this situation continues, it is possible that the price will continue to decline and drop to $2.61. However, if Donald Trump emerges victorious, this trend may change, according to the analyst. In this case, the value of the meme coin could rise up to $5.69. But if the former president doesn’t win, the price of MAGA could plummet to an all-time low.
KAMA and TREMP attract attention
The second altcoin that the analyst drew attention to is KAMA. Over the past seven days, this Kamala Harris-themed meme coin has surged 62%. This significant rise may be linked to the US Vice President’s move closer to Trump in the polls. However, KAMA’s price has decreased by 3.60% in the last 24 hours. According to the analyst, when the 4-hour chart is examined, the MACD has fallen into the negative zone, indicating bearish momentum. Additionally, the 12-day Exponential Moving Average (EMA) has moved below the 26 EMA. This shows that sellers have taken control. According to the analyst, if this trend continues, KAMA’s price may drop to $0.0098.
Unlike KAMA and TRUMP, Donald Tremp is one of the few PoliFi coins to show a significant increase on US election day. Since Sunday, November 3, the price of TREMP has increased by 20.22%. Currently trading at $0.32, TREMP shows that bulls are pushing the price of the meme coin upwards, according to Balance of Power (BoP) data. BoP is an indicator that measures the strength of buyers relative to sellers. According to analysts, bears (sellers) have the upper hand. However, in this case, TREMP is experiencing significant buying pressure as the reading rises. If this trend continues, the altcoin price could rise to $0.46. On the other hand, according to the analyst, if the election results are announced and Trump loses to Harris, this prediction is invalid.
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