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The MAGA price is up 2.4% in the past 24 hours to trade for $13.89 as of 02:43 a.m. EST on trading volume that surged 173%.
It comes after a jury found Republican presidential candidate Donald Trump guilty on 34 felony counts. The news has seen the TRUMP price recover after a 16% dip that happened in the immediate aftermath of the news.
A #NewYork jury convicted Former US Prez #DonaldTrump on all 34 charges in his hush-money case ahead of the election where he seeks to win.
Judge Juan Merchan has set sentencing for July 11.#UnitedStates pic.twitter.com/x9gFrhoYd1
— Vibes of India (@vibesofindia_) May 31, 2024
The case revolved around Trump’s so-called hush money case, after allegations that he had falsified business documents in New York. This is the first time a former US president has been convicted of a crime.
Donald Trump Sentencing To Come On July 11, MAGA Price Attempts Recovery
Trump was found guilty of falsifying business records in connection to a hush money payment his former lawyer Michael Cohen made to adult film star Stormy Daniels. This happened during the final weeks of the 2016 presidential election.
After almost 10 hours of deliberations running into Thursday that saw the Jury find Trump guilty, the presidential aspirant will be sentenced on 11 July. This will be only four days before the Republican National Convention to nominate the presidential election candidate ahead of the November presidential poll.
With this, Trump faces penalties from a fine to four years in prison on each count. However, there is speculation that he would be sentenced for the offences concurrently, not consecutively. While he appeals, however, he is expected to remain free.
Commenting about the Jury’s decision, Trump said, “This was a disgrace,” adding that it was a rigged trial.
With the presidential election in sight, polls show that Trump and President Joe Biden are in a neck-and-neck contest headed into the November election.
In the immediate aftermath of the news, the market capitalization of TRUMP dipped by over $130 million as the MAGA price plunged, CoinGecko data shows, sliding from $13.48 to $11.27. However, the MAGA price recovered soon after and was trading for $13.89 at press time.
Ahead of the ruling, traders had front-run the news. The MAGA price had already started to trend downward two hours before the guilty verdict.
Despite the ruling, blockchain-powered prediction market Polymarket still forecasts a Trump victory against President Biden. The current reading indicates a 54% win odds against Biden’s 40%.
MAGA Price Prediction
The MAGA price is trading with a bullish bias as it continues to defend the ascending parallel channel. This highly bullish technical formation promises more gains as long as the price remains within its confines.
With the MAGA price still well within the channel and above the Fibonacci Golden Zone, the MAGA price could extend the climb. Traders looking to take new long positions for the TRUMP token should consider waiting for a candlestick close above the $18.34 range high.
A look at the momentum indicators for technical analysis shows that while the bears are gaining ground, the market still favors the bulls. Specifically, the Relative Strength Index (RSI) is still above the mean level of 50.
Similarly, the Moving Average Convergence Divergence (MACD) is not only in positive territory but also above the orange band of this signal line and its histograms are flashing green. This shows that bullish momentum still abounds in the TRUMP market.
GeckoTerminal: TRUMP/USD 1-day chart
On the other hand, the RSI is nose-diving to show momentum is falling. Similarly, the histograms of the MACD are paling out suggesting bullish momentum is fading. Increased selling pressure could plunge the MAGA price lower. However, the bullish thesis would only be negated once the price breaks and closes below the 38.2% Fibonacci retracement level of $9.07.
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Promising Alternative To MAGA
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It integrates the legendary Tamagotchi virtual pet concept into the new digital economy of a crypto. The allure of the project is that you get to play through classic 8-bit side-scrolling adventures and embrace that 90s nostalgia while earning crypto. Enjoy monetary incentive tied directly to your ability to effectively care for your pet.
This play-to-earn ecosystem’s powering token, PLAY, has interesting features that include:
- Functionality: $PLAY is the primary in-game currency for transactions and accessing special features.
- Earning Mechanism: $PLAY is earned through engaging with pets and excelling in the adventure game.
- Utility: $PLAY is designed to have value both within the game and in the broader crypto market.
PlayDoge runs on the BNB chain, which is famous for providing benefits such as lower fees, faster transactions, ecosystem support, interoperability, scalability, and community adoption.
The new Doge meme coin exploded onto the scene after raising $200,000 within minutes of the start of its presale earlier this week. As it stands, investors have already sent more than $624K to the project as they buy PLAY tokens for $0.005 each.
If you are interested in the project, buy $PLAY tokens in presale to enjoy classic 2D adventures and earn more crypto. But hurry because a price hike is coming in about 19 hours.
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Also Read:
PlayDoge (PLAY) – Newest Launch On BNB Chain
- 2D Virtual Doge Pet
- Play To Earn Meme Coin Fusion
- Staking & In-Game Token Rewards
- SolidProof Audited – playdoge.io
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