MAGA Coin Rises 20% – Thanks to Elon Musk
Donald Trump's memecoin, MAGA, shot up 20% after the outcry over Elon Musk's X. That's right! MAGA is trading at $7.08, up 20.22% in just 24 hours.
Elon threw MAGA into the spotlight
Elon Musk, the man behind Tesla, released a commemorative image on X that reads, “Make America Great Again.” He was talking about American leadership with the election coming up. And although he has previously denied endorsing any candidate, Musk's large donation to a pro-Trump super PAC made his support clear.
The effect of this bright movement
Musk has narrowly endorsed Trump for president. He posted on X expressing his support for Trump and wishing him a speedy recovery. Even Tron founder Justin Sun chimed in saying that Trump is the best for the crypto industry.
The entire crypto market crashed. Bitcoin (BTC), Ethereum (ETH) and other coins have seen a nice uptick. MAGA's price rose more than 50% to $8.27 before cooling off a bit. Even now, MAGA's price is 16% lower than its previous peak, but still higher than it was.
Biden's 72-hour countdown
And here another twisted-Trump rival, Joe Biden, may be dropping out of the race. Galaxy Digital CEO Mike Novogratz thinks Biden has no chance in the upcoming election. Democratic leaders want Biden out of office, and Novogratz predicts it will happen within 72 hours. But Biden is sticking to his guns, saying he'll stay in the race.
MAGA price forecast for 2024 and beyond
Looking ahead, if MAGA holds this momentum and breaks above its moving average, it could hit targets between $7.12 and $17.48 by the end of 2024. The average price is expected to be around $17.19. For 2025, things look even better. Technical analysis shows that MAGA could go as low as $17.13 and as high as $20.55. The average price can reach $19.49.
Brief history!
Elon Musk's endorsement certainly gave Trump's MAGA coin a big boost. This coin is not sponsored or created by Trump, he is the name behind the massive development of meme coin. With the upcoming election and all the hype, MAGA could be headed for new highs. So, keep your eyes on this memecoin – it might just be the next big thing in the crypto world! Don't miss out on this rollercoaster ride.
Also Read: Massive Token Launch Alert: $208 Million Set To Flood The Market
