MAGA price has fallen 20% in the past 24 hours, trading at $0.0004902, and trading volume has surged 21% to $434.9 million as of 5 a.m. EST. MAGA (MAGA) is a meme coin modeled after the cryptocurrency MAGA (TRUMP). Both MAGA and TRUMP tokens have surged following the former president’s recent pro-cryptocurrency remarks. Currently, $MAGA appears to have found stability after a 226% gain in the past week, although its price has fallen below the $0.00050 mark.
MAGA Price Prediction
MAGA prices surged around May 25 and continued to rise over the next few days, breaking through one resistance level after another.
However, looking at the project's chart now, it is clear that a correction has begun. The important question now is when it will end and what it means for traders.
Some technical indicators such as Bollinger Bands are still showing bullish signals in terms of price. Although the price is close to the lower band, the bands are still very wide.
However, the project’s relative strength index (RSI) went from extremely overbought two days ago to neutral yesterday to oversold today. This shows traders gradually selling the token over time, further pushing its price down.
However, a low RSI value (i.e. an RSI that drops into oversold territory) can actually be a good thing. Traders who focus on technical indicators such as the RSI value may view this as a buy signal, meaning they may be quick to act.
If this happens, MAGA price could start recovering in the next few days. It is unclear whether the RSI value will drop further or if traders will react quickly once it reaches the 33.23 level.
In terms of price, this could allow MAGA to climb back above $0.00050 and potentially back to $0.00060 soon after. However, if the $0.00050 resistance level fails and the price is rejected, the coin will likely continue to fall towards $0.00040.
A promising alternative to MAGA
As MAGA goes downhill, other memecoins may offer better options. One example is Sponge (SPONGE), which created a V2 version of its project, making it bigger and better than the original.
The original Sponge launched in 2023, only to see a massive 100x rally that put it on the map and attracted new traders and investors. However, its team has since decided to terminate the project and launch a new version called Sponge V2.
Those who purchased the original SPONGE have had their tokens transitioned to the V2 version, enabling them to stake their crypto and earn staking rewards. Meanwhile, those who missed out on the 2023 increase now have the opportunity to purchase the new version of SPONGE and potentially participate in the increase.
While such a rise is not certain, it is likely that a project like SPONGE will see similar growth the second time around, considering it is being launched as a bigger and better version.
Now, SPONGE can be purchased with MATIC, ETH, USDT, or a credit/debit card. As for why traders should consider buying it – Sponge V1 was priced at $0.000025, while Sponge V2 is currently priced at $0.002145. This means that the token’s price has surged by 8,581%.
Meanwhile, investors have transitioned and staked over $24.6 million in SPONGE tokens, meaning there is a huge demand and desire to hold these cryptocurrencies. Investors can earn an annual staking return of 161% on Ethereum and 324% on Polgyon.
Sponge V2 is now offering its last chance to buy before it is listed on top exchanges. If you are interested in the project, buy now before the presale closes.
Visit the official SPONGE website.
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