Among the meme coins that have recently made a mark in the crypto world, presidential-themed projects have occasionally come to the forefront. Recently, the price surge in the Kamala Harris-themed meme coin, considered a candidate to replace Joe Biden, has caused a significant stir in the market. So, what is currently happening in this area?
US Presidential Process
Although the presidential elections started much earlier in some way, the process seemed to be nothing but chaos. The debate between Trump and Biden, where Biden appeared poorly, and the subsequent pressure for him to withdraw from the candidacy ignited a great chaos. Following this process, events peaked, and there was an assassination attempt on former president and new presidential candidate Donald Trump.
During the process, which resulted in Donald Trump being injured, a person attending the rally was also killed by a sniper shot, leading to notable price movements in the market due to significant speculations. The attack also led to the emergence of many new meme coins and the movement of existing ones.
Post-attack survey results provided a clearer picture, suggesting that the Biden administration might have a low vote share. Many US citizens believe that the Republican presidential candidate Trump will emerge successfully from the elections. Analyzing this situation in the crypto space, Ali Martinez indicated that if events unfold this way, incredible price movements could occur for many Trump-themed tokens.
Martinez posted about the topic on X. In his statement, he mentioned that as of July 23, Donald Trump had a 65% chance of winning against the new Democratic party candidate Kamala Harris.
Will MAGA (TRUMP) Rise?
The technical analysis (TA) of MAGA (TRUMP), the most voluminous of the Trump tokens, also suggests a potential rally. According to Martinez, the TD Sequential indicator, which uses historical data to find potential trend reversal points in the market, indicated that TRUMP could potentially rise to $7.70 based on the data from July 23.
However, the price movement in the last 24 hours indicated a decline for MAGA. After a 2.58% drop, the MAGA price found buyers at $6.21.
