The price of MAGA has risen by 22% in the past 24 hours to $0.0003740, with trading volume surging 82% to $133 million. Meanwhile, a survey shows that former President Donald Trump is leading President Biden by 5 percentage points in the swing state of Georgia. This comes as the two are set to debate in the state’s capital later this week.
In 2020, Biden turned Georgia blue for the first time in decades, making it a key battleground state. Trump’s popularity is on the rise in many so-called PolitiFi meme coins, with Super Trump (STRUMP) surging by 31% and Free Trump (Trump) climbing by 10%.
The price of MAGA is expected to maintain its upward trend on the consolidation channel. Data from GeckoTerminal shows that since its launch on May 17, MAGA’s price hit a historic high of $0.0007379 on May 27 after a mark-up phase.
Since then, the price of MAGA has been on a downward trend, as short sellers pushed the token to the support area of $0.0001878. The price of MAGA has been trading within the consolidation channel, as the bulls aim for a major breakout above the channel.
MAGA’s price is trading elegantly above the 50-day and 200-day simple moving averages (SMA), confirming a bullish rebound. The Relative Strength Index (RSI) also shows that buyers outnumber sellers, with the RSI climbing to the overbought area at 65.
The Moving Average Convergence Divergence (MACD) is also bullish, with the MACD line (blue) crossing above the signal line (orange) to form a bullish crossover.
On the 4-hour chart, MAGA’s price analysis shows a strong bullish tendency, with bulls aiming for a resistance level of $0.00060. However, the 50-day SMA is still below the 200-day SMA, which may put pressure on short sellers. Additionally, the rising RSI indicates overbought conditions, which may prompt short sellers to take profits.
Meanwhile, as the bullish trend in MAGA price aims to push the token higher, investors have pushed the pre-sale price of the new GameFi project, Mega Dice, to over $1.5 million.
Mega Dice is set to become the first GambleFi project on the Solana blockchain, poised to revolutionize the gaming landscape. The platform is a top brand in the crypto casino space, with over 11,000 active players and monthly bets exceeding $50 million. It provides access to over 4,000 casino games, as well as over 50 sports and esports betting options.
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