MAGA

MAGA (Solana)

President Donald Trump

Donald Trump

MAGA, the trending meme coin themed after former US President Donald Trump is down today after a sharp rise to a new all-time high. The asset has been on a roll this month soaring to new highs as traders increase their appetite for meme coins. Macroeconomic factors and the upcoming United States Presidential Elections also played a part in the token’s rise.
However, the intra-day trading has seen the MAGA price plunge following sell-offs in the market. At press time, MAGA trades at $12.03, a 4% decline in the last 24 hours. The market cap also dropped to $529 million signaling reduced momentum amid inflows in some tokens. Daily trading volumes nosedived 39%&nbsp; to $19.6 million with shaky day trading.
<img decoding="async" class="aligncenter size-full wp-image-199234" src="https://coingape.com/wp-content/uploads/2024/05/TRUMP_1D_graph_coinmarketcap.jpg" alt="" width="630" height="380" srcset="https://coingape.com/wp-content/uploads/2024/05/TRUMP_1D_graph_coinmarketcap.jpg 630w, https://coingape.com/wp-content/uploads/2024/05/TRUMP_1D_graph_coinmarketcap-300x181.jpg 300w, https://coingape.com/wp-content/uploads/2024/05/TRUMP_1D_graph_coinmarketcap-150x90.jpg 150w" sizes="(max-width: 630px) 100vw, 630px">
<h2 id="span-style-font-weight-400-strong-maga-tapping-a-new-all-time-high-strong-span">MAGA Tapping A New All-Time High&nbsp;</h2>
MAGA hit a new all-time high again this month after surging to $13.29 on May 29 as bulls increased market activities. This surge comes following positive comments from <a href="https://coingape.com/donald-trump-crypto-holdings-exceed-10m-ahead-us-presidential-election/" target="_blank" rel="noopener noreferrer nofollow">Donald Trump</a> on the sector ahead of the U.S. elections. On May 27, the crypto holdings of the former President hit $10 million.&nbsp;
On May 26, the asset also hit another all-time high sparked by an appearance at the Libertarian National Convention. These price upticks also saw traders netting huge rewards. A crypto trader raked in $2.7 million in profits in three days from the asset souring wider community reactions.
The asset’s daily performance ranges from a high of $12.89 to a low of $11.06. On the larger scale, MAGA is up over 154,000% since its all-time low 9 months ago.&nbsp;
<h2 id="strong-recovery-on-the-horizon-strong">Recovery on The Horizon?</h2>
<a href="https://coingape.com/meme-coin/" target="_blank" rel="noopener noreferrer nofollow">Meme coins</a> still show prospects despite short-term sideways trading in the last 24 hours. Several commentators opine that factors leading to a rise in MAGA are still present with more inflows expected in the wider market.&nbsp;
<a href="https://coingape.com/institutional-investors-pouring-huge-money-into-crypto/" target="_blank" rel="noopener noreferrer nofollow">Institutional investors </a>continue to invest in the market shaping the sentiment alongside crypto becoming a major issue at the forthcoming elections. However, delays or rate hikes will see investors move out of risky assets causing a drop in MAGA and other meme coins.
Also Read:<a href="https://coingape.com/trending/dogecoin-and-other-dog-based-meme-coins-bullish-outlook-for-june/" target="_blank" rel="noopener noreferrer nofollow"> Dogecoin and Other Dog Based Meme Coins Bullish Outlook For June</a>
The post <a href="https://coingape.com/trending/trump-themed-maga-plummets-from-all-time-high-is-recovery-in-sight/" rel="noopener noreferrer nofollow">Trump-themed MAGA Plummets From All-Time High: Is Recovery In Sight?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Trump-themed MAGA Plummets From All-Time High: Is Recovery In Sight?

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