Donald Trump themed memecoin, MAGA, just shot up by 20% after a shoutout from Elon Musk on X. That’s right ! MAGA is trading at $7.08, up by a crazy 20.22% in just 24 hours.
Elon Threw MAGA to the Spotlight
Elon Musk, the man behind Tesla, posted a meme image on X with “Make America Great Again.” He was talking about the US leadership with the elections coming up. And even though he denied backing any candidate before, Musk’s huge donation to a Super PAC supporting Trump made his support pretty clear.
Impact of This Bold Move
Musk narrowly endorsed Trump for president. He posted on X, showing his support for Trump and wishing him a speedy recovery. Even Justin Sun, the founder of Tron, jumped in, saying Trump is the best for the crypto industry.
The whole crypto market went nuts. Bitcoin (BTC), Ethereum (ETH), and other coins saw a nice bump. MAGA’s price shot up more than 50% to $8.27 before cooling off a bit. Even now, MAGA’s value is about 16% lower than its previous high, but still way up from where it was.
Countdown to Biden’s 72 Hours
And here’s another twist-Trump’s rival, Joe Biden, might be dropping out of the race. Mike Novogratz, CEO of Galaxy Digital, thinks Biden has no chance in the upcoming elections. Democratic leaders want Biden to step down, and Novogratz predicts it’ll happen in 72 hours. But Biden is sticking to his guns, saying he’s staying in the race.
MAGA Price Prediction for 2024 and Beyond
Looking ahead, if MAGA keeps this momentum and breaks above its moving averages, 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 MAGA could go as low as $17.13 and as high as $20.55. The average price might hit $19.49.
Story in a Nutshell!
Elon Musk’s endorsement has given Trump’s MAGA coin a massive boost for sure. This coin is not endorsed or created by Trump, it’s the name that is the reason behind the meme coin’s massive growth. With the upcoming elections and all the buzz, MAGA could be heading to 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 Unlock Alert: $208 Million Set to Flood the Market
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