The post MAGA Memecoin Soars on Donald Trump Inauguration Speculation and Whale Interest appeared first on Coinpedia Fintech News
As Bitcoin (BTC) price rebounded above $99.5k on Monday, January 6, during the early European session, MAGA (TRUMP), a memecoin project inspired by U.S President-elect Donald Trump Donald Trump Donald Trump is an American former president politician, businessman, and media personality, who served as the 45th president of the U.S. between 2017 to 2021. Trump earned a Bachelor of science in economics from the University of Pennsylvania in 1968. Trump won the 2016 presidential election as the Republican Party nominee against Democratic Party nominee Hillary Clinton while losing the popular vote. As president, Trump ordered a travel ban on citizens from several Muslim-majority countries, diverted military funding toward building a wall on the U.S.–Mexico border, and implemented a family separation policy. Trump has remained a prominent figure in the Republican Party and is considered a likely candidate for the 2024 presidential election President rallied over 42 percent in the past 24 hours to trade about $3.58 at the time of this writing. As a result, the small-cap altcoin, with a fully diluted valuation (FDV) of about $163 million and a 24-hour average traded volume of around $53 million, has pumped more than 124 percent in the past week.
Factors Influencing MAGA’s Rally
The Ethereum-based memecoin, focused on charity to US veterans and children, has attracted significant attention from whale investors. According to on-chain data analysis, 52.40 percent of MAGA token holders are whale investors, despite the majority encompassing cruisers.
The notable rally of MAGA in the past 24 hours is heavily influenced by the upcoming inauguration of US President Donald Trump. As the first pro-crypto US President, heavy speculation on his impact on the ongoing crypto bull market is visible.
According to Ripple Labs CEO Brad Garlinghouse, Trump’s inspired crypto bull market in 2025 is real. Moreover, more institutional investors have gained significant confidence in the crypto industry, as shown by the major cash inflows to digital assets investment products.
With over 41k on-chain holders and a locked liquidity of more than $4 million in Wrapped Ether (WETH), MAGA memecoin is well positioned to grow exponentially ahead.
Midterm Expectations
After being trapped in an ABC correction since May 2024, MAGA memecoin, in the daily time frame, is attempting to break out in a new rising trend. However, the memecoin must consistently close above the daily falling logarithmic trend to confirm a successful bullish breakout.
In case of a failed bullish breakout and the memecoin continues in the macro falling trend, the support level above $1.32 will likely hold until the buyers gain control.
