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The price of MAGA is up 2.4% in the past 24 hours to trade for $13.89 as of 02:43 AM EST on trading volume that is up 173%.
This comes after a jury found Republican presidential candidate Donald Trump guilty of 34 criminal charges. The news saw Trump’s price recover after a 16% drop in the immediate aftermath of the news.
a #New York The jury convicted the former US president #Donald Trump On all 34 charges in the big money case before the elections he seeks to win.
Judge Juan Merchan set the sentencing date for July 11.#United State pic.twitter.com/x9gFrhoYd1
– Feelings of India (@vibesofindia_) May 31, 2024
The case centered on the so-called secret money case brought by Trump, after allegations that he forged commercial documents in New York. This is the first time a former US president has been convicted of a crime.
Sentencing for Donald Trump to be announced on July 11, MAGA price is trying to recover
Trump was convicted of falsifying business records in connection with a hush money payment made to adult film star Stormy Daniels by his former lawyer Michael Cohen. This happened during the final weeks of the 2016 presidential election.
After nearly 10 hours of deliberations that continued into Thursday and saw the jury convict Trump, the presidential candidate will be sentenced on July 11. This will be just four days before the Republican National Convention to name a presidential nominee ahead of the November presidential election.
Trump thus faces penalties ranging from a fine to four years in prison for each charge. However, there is speculation that he will be sentenced for the crimes concurrently, rather than consecutively. While he is appealing the sentence, he is expected to remain a free man.
Commenting on the jury’s decision, Trump said: “This was a disgrace,” adding that it was a rigged trial.
As the presidential election approaches, polls show Trump and President Joe Biden competing closely ahead of the November election.
Immediately following the news, TRUMP’s market cap drops over $130M as MAGA price drops, CoinGecko Data It fell from $13.48 to $11.27. However, MAGA’s price recovered soon after and was trading at $13.89 at press time.
Before the ruling was issued, traders were at the forefront of the news. The price of MAGA had already started to trend downward two hours before the guilty verdict.
Despite the ruling, blockchain-based prediction market, Polymarket, is still predicting a Trump victory over President Biden. The current reading indicates a win probability of 54% compared to 40% for Biden.
MAGA price forecast
MAGA price is trading with a bullish bias as it continues to defend the ascending parallel channel. This extremely bullish technical formation promises more gains as long as the price stays within its limits.
With MAGA price remaining inside the channel and above the golden Fibonacci zone, MAGA price could extend upwards. Traders looking to take new long positions in the TRUMP token should consider waiting for the candlestick to close above the high of $18.34.
A look at technical analysis momentum indicators shows that while the bears are gaining ground, the market still favors the bulls. Specifically, the Relative Strength Index (RSI) remains above the average level of 50.
Likewise, the Moving Average Convergence Divergence (MACD) is not only in positive territory, but is also above the orange band of this signal line and its histograms are flashing green. This shows that bullish momentum still exists in Trump’s market.
GeckoTerminal: Trump/USD 1-day chart
On the other hand, the RSI is nose-diving to show declining momentum. Likewise, the MACD histograms are tapering indicating the upward momentum is fading. Increased selling pressure may lead to a decline in the price of MAGA. However, the bullish hypothesis will only be invalidated when the price breaks and closes below the 38.2% Fibonacci retracement level at $9.07.
As MAGA prices show massive volatility as the US political landscape heats up, consider diversifying your portfolio with $PLAY, which calls itself the best companion to play-for-profit (P2E) DOGE. Crypto YouTuber Jacob Burry says it could be the next potential 10X cryptocurrency.
A promising alternative to MAGA
PLAY is the indicator for Play Doggie Project, a play-to-earn (P2E) mobile game that turns the popular Doge meme character into a Tamagotchi-style virtual pet.
It integrates the concept of Tamagotchi’s legendary virtual pets into the new digital economy of cryptocurrencies. The appeal of the project is that you can play through classic 8-bit side-scrolling adventures and embrace 90s nostalgia while earning cryptocurrencies. Enjoy the financial incentive directly linked to your ability to care for your pet effectively.
The play-to-win operating code, PLAY, has interesting features including:
- FUNCTION: $PLAY is the primary in-game currency for transactions and access to special features.
- Earning Mechanism: $PLAY is earned by treating pets and excelling in the adventure game.
- Utility: $PLAY is designed to have value within the game and in the broader cryptocurrency market.
PlayDoge works on BNP Serieswhich is known for offering benefits such as low fees, faster transactions, ecosystem support, interoperability, scalability, and community adoption.
The new Doge meme has exploded onto the scene after raising $200,000 within minutes of starting its pre-sale earlier this week. Currently, investors have already sent more than $624,000 to the project Buy toys Tokens are worth $0.005 each.
If you are interested in the project, buy $PLAY tokens in the pre-sale to enjoy classic 2D adventures and earn more cryptocurrencies. But hurry because the price hike is coming in about 19 hours.
Visit and purchase PlayDoge tokens here.
Read also:
PlayDoge (PLAY) – the latest launch on the BNB chain
- 2D Virtual Doge Pet
- Play to earn Meme Fusion Coin
- Staking and in-game token rewards
- SolidProof – playdoge.io has been audited
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