Trump cryptocurrencies set to surge as markets predict November victory
Trump cryptocurrencies set to surge as markets predict November victory 
Cryptocurrency Jul 24, 2024 Share
Though the period arguably started much earlier, the U.S. election cycle has been nothing if not chaotic ever since the shocking debate between President Biden and former President Trump.
Along with the ultimately successful pressure on Joe Biden to drop out of the race, the most dramatic event so far has been the July 13 assassination attempt against Donald Trump.
Along with the wounding of the Republican candidate and killing of one rally attendee, the incident sparked wild speculation and led to an expectation of a red wall in November – much like the results of the 1984 election following the 1982 attempt on Reagan’s life – and, indeed, led to the creation of multiple event-inspired cryptocurrencies.
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Trump meme coins expected to surge as polls point to Trump victory
Given how Trump was polling, the expected results of surviving the attack, and the low approval ratings of the Biden administration, many now predict a solid victory for the Republican and one cryptocurrency expert, Ali Martinez, believes such expectations are set to translate into rallies for the many Trump-themed tokens.
As of July 23, Donald Trump has a 65% chance of winning against the new Democratic party candidate, Kamala Harris, per an X thread posted by Martinez.
With @JoeBiden dropping out of the presidential race, and @KamalaHarris potentially becoming the Democratic nominee, @realDonaldTrump now has a 65% chance of winning the next US presidency, according to a poll from @Polymarket! pic.twitter.com/m8XtqrWTNN
— Ali (@ali_charts) July 23, 2024
Simultaneously, the expert predicted that meme coins such as FIGHT (FIGHT) and FIGHT TO MAGA (FIGHT) – both released after the assassination attempt and referencing a photograph taken shortly after – and particularly the latter as it also recently formed a double bottom chart pattern, are poised for a significant rally.
FIGHT chart with the double bottom pattern. Source: @ali_charts
Technical analysis hints at imminent MAGA (TRUMP) rally
The technical analysis (TA) of one of the Trump tokens – MAGA (TRUMP) – also seemingly confirms that a rally is imminent. According to Martinez, the TD Sequential – a tool that uses historical data to find the point of a likely trend reversal – also hinted on July 23 that TRUMP is set for a surge, possibly even up to $7.70.
TRUMP TD Sequential chart. Source: @ali_martinez
In a twist possibly reflective of the general uncertainty stemming from the fact that a Trump-Harris race is profoundly different than a Trump-Biden one, most Trump tokens have seen their prices remain depressed despite the bullish expectations, with even MAGA staying on a downward trajectory with a press time price of $6.12.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
