Key Takeaways
After Donald Trump secured the Republican Party’s US Presidential nomination and survived an assassination attempt in Pennsylvania, traders’ eyes turned to memecoins linked to the former president.
MAGA is the biggest of a range of Trump-linked tokens by market capitalization and its TRUMP token notably increased after since its launch in August 2023.
On Sept. 12 2024, TRUMP was worth about $2.80.
MAGA did not respond to a request for comment.
Let’s take a look at our MAGA price predictions, made on Sept. 12 2024. We will also examine the MAGA price history and talk a little about what MAGA is and what it does.
Let’s examine some of the MAGA price predictions CCN made on Sept. 12, 2024. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate.
Minimum TRUMP Price Prediction | Average TRUMP Price Prediction | Maximum TRUMP Price Prediction | |
---|---|---|---|
2024 | $1.62 | $1.96 | $2.30 |
2025 | $5.68 | $7.10 | $8.52 |
The TRUMP wave count suggests MAGA has completed a five-wave increase since launch and is now finishing an A-B-C structure.
Based on the length of the increase, the correction could end in November, possibly inside the $1.25 horizontal support area.
We will then use the daily rate of increase from launch to our projected price to make a TRUMP price prediction for the end of 2024 and 2025.
Measuring from the launch, TRUMP would have increased by 330% in 312 days for a rate of increase of 1.05%.
Projecting this increase until the end of 2024 leads to a price of $1.96, and doing so until the end of 2025 a price of $7.10 for the end of 2025.
We then add and remove 20% from these targets to arrive at our minimum and maximum MAGA price predictions.
Since there is only data going up to January, we cannot predict the price at the end of 2030.
The daily TRUMP chart shows that the price has decreased under a descending resistance trend line since the start of June.
While the price fell to a low of $2.39 on Aug. 17, there are several bullish signs developing.
More specifically, the price has reclaimed the minor $2.80 horizontal support area and the daily RSI and MACD have generated bullish divergences.
If a breakout happens, the next resistance will be at $4.
The TRUMP price prediction for the next 24 hours hinges on a breakout from the descending resistance trend line.
If this happens, the TRUMP price can reach the $4 resistance area.
The Average True Range (ATR) measures market volatility by averaging the largest of three values: the current high minus the current low, the absolute value of the current high minus the previous close, and the absolute value of the current low minus the previous close over a period, typically 14 days. A rising ATR indicates increasing volatility, while a falling ATR indicates decreasing volatility. Since ATR values can be higher for higher-priced assets, normalize ATR by dividing it by the asset price to compare volatility across different price levels. On Sept. 12 2024, MAGA’s ATR was 0.436, suggesting low volatility.
At its core, TRUMP is a memecoin, so let’s compare its performance with other memecoins.
We took a look at the MAGA price history and found the times when the price was at its lowest across certain days, months, quarters and even weeks in the year, indicating the best times to buy TRUMP.
Day of the Week | Saturday |
Week | Seven |
Month | January |
Quarter | First |
Following that, let’s now take a look at some of the key dates in the MAGA price history . While past performance should never be taken as an indicator of future results, knowing what the coin has done can help give us some very useful context when it comes to either making or interpreting a MAGA price prediction.
Time period | MAGA price |
---|---|
Last week (Sept. 5 2024) | $3.21 |
Last month (Aug. 12 2024) | $3.72 |
Three months ago (June 12 2024) | $14.35 |
One year ago (Sept. 12 2024) | $0.06045 |
Launch price (Aug. 19 2023) | $0.01207 |
All-time high (June 1 2024) | $17.52 |
All-time low (Aug. 21 2023) | $0.007792 |
The market capitalization, or market cap, is the sum of the total number of TRUMP in circulation multiplied by its price. On Sept. 12 2024, MAGA’s market cap was $122.8 million, making it the 280th-largest crypto by that metric.
On Sept. 12 2024, one wallet held just over 9% of the MAGA supply.
As of Sept. 12 2024, the five wallets with the most MAGA were:
Supply and distribution | Figures |
---|---|
Total supply | 46,502,452 |
Circulating supply (as of Sept. 12 2024) | 43,997,357 (90% of total supply) |
Holder distribution | Top 10 holders owned 28.24% of supply on Sept. 12 2024 |
MAGA hasn’t published a whitepaper yet.
The MAGA (TRUMP) aims to promote the former president’s campaign slogan “Make America Great Again” in the world of digital currencies.
MAGA boasts several distinctive features that set it apart from other cryptocurrencies. The developer has committed to reserving 10% of the total supply for Trump-related projects and donations to MAGA-friendly political candidates and campaigns. This allocation aligns the coin with the MAGA cause, highlighting its dedication to promoting the movement’s mission and brand.
According to MAGA’s official website, the coin aims to offer “true economic freedom and financial sovereignty” to its users. This goal resonates with the broader cryptocurrency philosophy of advocating for decentralized and democratic financial systems.
Additionally, MAGA supports charitable activities, focusing on aiding charities and political causes aligned with the MAGA movement. This feature allows supporters to contribute to their preferred causes, adding a unique social dimension to the coin.
The MAGA (TRUMP) token is designed to support conservative causes and candidates aligned with the “Make America Great Again” (MAGA) movement. It provides a novel fundraising method for these causes, enabling Trump supporters to show their backing through financial investments. Like other tokens, users can trade it on exchange platforms.
It is difficult to tell. MAGA has been performing relatively well recently, but we don’t know what will happen next. This is because its fate is linked to that of Donald Trump’s political career, even if Trump himself does not have anything to do with the crypto. Also, the lack of a whitepaper could, potentially, put some investors off the token.
As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in TRUMP.
No one can really tell right now. While the MAGA crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up.
Before you decide whether or not to invest in MAGA, you will have to do your own research, not only on TRUMP, but on other coins and tokens such as IOTA (MIOTA) and MXC. Either way, you will also need to make sure that you never invest more money than you can afford to lose.
Technical analysis by Valdrin Tahiri.
According to price predictions based on technical analysis, this may happen in the next decade.
The MAGA (TRUMP) token is designed to support conservative causes and candidates aligned with the “Make America Great Again” (MAGA) movement.
It provides a novel fundraising method for these causes, enabling Trump supporters to show their backing through financial investments. Like other tokens, it can be traded on exchange platforms.
Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.