Trump-themed MAGA Plummets From All-Time High: Is Recovery In Sight?
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% to $19.6 million with shaky day trading.
MAGA Tapping A New All-Time High
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 Donald Trump on the sector ahead of the U.S. elections. On May 27, the crypto holdings of the former President hit $10 million.
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.
Recovery on The Horizon?
Meme coins 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.
Institutional investors 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: Dogecoin and Other Dog Based Meme Coins Bullish Outlook For June
Instant Currency Exchange at BestChange with Ease
- Compare Rates Across 1000+ Exchanges
- Access 250+ Cryptocurrencies & Pairs
- Save Time with Real-Time Price Tracking
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
- Saylor’s Strategy Secures $18M Capital For STRC Despite Peter Schiff’s Ponzi Claims
- Duel Casino Promo Code 2026: Get 50% Rakeback & Referral Bonus
- Oil Price Rises Above $100 as Trump Threatens to Shoot Boats Laying Mines in Strait of Hormuz
- U.S. Senator Says Trump Has ‘Normalized His Corruption’ Ahead of TRUMP Coin Mar-a-Lago Event
- Is Arthur Hayes’ $10k Zcash Forecast Getting Real As Robinhood Lists ZEC?
- TSLA Stock Price Outlook as Stronger Than Expected Q1 Earnings Mask $173M Bitcoin Loss
- Is it Time to Exit XRP as CLARITY Act Passage Odds Hit a New Low?
- CRCL, BMNR, and COIN Stocks Price Prediction as CLARITY Act Hits April Roadblock
- Futures Data Signals XRP Price Breakout as $34B US Bank Opens XRP Deposits
- Aave TVL Plunges Following KelpDAO Hack 15 Billion- What’s Next for AAVE Price?
- Crypto Market Today: BTC Breaks $78K, ETH Tests $2,400, XRP Soars to $1.45 as Trump Extends Iran Ceasefire
