The MAGA (TRUMP) meme coin has been on a crazy ride lately, largely due to the hype around the U.S. election.
But after a strong run, it’s finally hit a bit of turbulence.
The token took a 19% dive in the past day, and now investors are wondering: Is this just a minor setback, or is the MAGA rally finally over?
MAGA Faces Sell-Off but Top Wallets Are Still Holding
MAGA, still the biggest PolitiFi coin, is facing some rough waters.
Trading at $3.35, MAGA is now down 38% from last Thursday’s local high of $5.50.
This sharp drop has pulled the token’s market cap down to $141 million.
Interestingly, spot trading volumes have actually jumped 124% in the past day, likely driven by increased selling pressure.
What sparked this sudden sell-off is unclear.
Some think it might be profit-taking after the recent rally and changing sentiment around Donald Trump’s political campaign.
However, big swings aren’t new for MAGA.
The token has had its fair share of ups and downs over the past year as its popularity skyrocketed.
And many top influencers are still bullish on it.
For example, @Crypto_Alch on Twitter revealed that the top wallets containing MAGA are either still accumulating or holding the token.
That’s a sign that, despite the dip, some big players feel MAGA will rebound.
MAGA Price Outlook – Can the TRUMP Token Rebound?
Looking ahead, MAGA’s price will be tightly linked to Donald Trump’s political journey.
As the biggest cryptocurrency tied to the former president, MAGA’s performance often reflects Trump’s perceived strength.
Right now, most polls show Trump leading the election race.
Winning a second term could fire up his supporters – bringing renewed interest in MAGA.
On the other hand, any setbacks for Trump could mean more selling pressure for the token.
Now, let’s look at the technicals.
MAGA’s 4-hour chart shows the price is at a critical Fibonacci retracement level after the recent drop.
Some traders believe this will be a turning point for the token.
Whether this support level holds or breaks might give clues about MAGA’s short-term direction.
If it holds, a likely upside target would be the highs from last week.
And if MAGA breaks those highs, the 1.272 Fibonacci level – around $6.58 – could be the next target.
That would represent a 110% rise from the token’s current price.
FreeDum Fighters Challenges MAGA with Huge Staking Rewards & $200K Presale Raise
While MAGA dominates the politics-themed crypto space, it’s not the only token out there.
Other projects are also trying to capture the attention of investors.
One standout competitor is FreeDum Fighters (DUM), a satirical token that plays into the hype around the upcoming election.
What makes DUM different from MAGA is its mix of meme culture, political humor, and actual utility.
FreeDum Fighters’ main feature is its staking system.
Users can stake their DUM tokens to support either MAGATRON (a Trump-inspired character) or Kamacop 9000 (inspired by Kamala Harris).
The twist is that staking for one candidate earns rewards from the other’s pool.
FreeDum Fighters’ team will also host weekly community debates where participants argue for their favorite candidate.
The winning team gets “government funds” airdropped to them.
This level of interaction sets FreeDum Fighters apart from MAGA’s more speculative approach.
And it’s already translating into presale demand.
The DUM token presale launched last Friday and has raised over $220,000 so far.
During the presale, early investors can buy DUM tokens for $0.0005 – but that price point will rise as the weeks go by.
Ultimately, while MAGA’s price depends a lot on Trump’s political standing, FreeDum Fighters aims to build an ecosystem that rewards active participation.
That could make it a strong contender in the political crypto space.
Plus, with the project now gaining a following on Twitter, FreeDum Fighters is one many investors are already keeping an eye on.
