- ConstitutionDAO is the top PolitiFi token with a market capitalization of $264.49 Million.
- MAGA (TRUMP) & MAGA (MAGA) are the second and third politiFi tokens per the market capitalization.
As the crypto markets continue to evolve, the PolitiFi tokens are making a significant position in the crypto space. These tokens have significantly risen from the current election campaigns in the United States.
Moreover, former president and presidential candidate Donald Trump’s favorable stance toward crypto has dramatically benefited these cryptocurrencies.
ConstitutionDAO (PEOPLE), MAGA (TRUMP), and MAGA (MAGA) are the top three PolitiFi tokens to invest in September 2024. Let’s analyze each one individually.
ConstitutionDAO (PEOPLE)
ConstitutionDAO is the top PolitiFi token based on market capitalization. It ranks at 156th with a live market capitalization of $264.39. The token was launched in 2021 to purchase an original copy of the United States Constitution. It has maintained its relevance despite not achieving its goal.
PEOPLE price saw a significant surge in the 1st half of 2024. However, the token price headed towards a correction phase in the 2nd half, i.e., after June 2024. Despite all the ups and downs, the PEOPLE token has an impressive 308.77% gain yearly.
As evident from the technical PEOPLE/USDT chart over a daily timeframe, the token has suffered a correction phase since July 2024. The daily chart highlighted the formation of a descending triangle pattern with the price headed toward the support zone.
Now, PEOPLE price may continue to maintain a sideways trend until it is stuck between the pattern’s upper and lower boundaries. A breakout or breakdown on either side could clarify the next possible trend.
MAGA (TRUMP)
MAGA token, associated with the U.S. presidential candidate Donald Trump, also remains one of the top PolitiFi tokens. A $129.647 Million market cap makes it the 2nd largest PolitiFi token and 271st token in the crypto space.
TRUMP was exchanging hands for close to $3.20 when writing, recording a slight 0.46% positive gain on Intraday. The daily chart highlights a consolidation in the last couple of weeks, with support at $2.4 and $5.2 level as resistance.
A sustained move above the $5.2 level may validate a bullish reversal. Also, the price may show gains of nearly 40% to reach the subsequent supply of $7.5 level.
On the other hand, suppose the selling pressure exceeds and the price breaks on the lower side. If this happens, it may result in a bearish continuation towards the psychological $2 level.
MAGA (MAGA)
MAGA (MAGA) token, inspired by Donald Trump’s campaign slogan, is just a short distance from the top list. With a live market capitalization of 37.37 Million, it ranks third among all the polities tokens.
Launched in May 2024, it is a relatively new token presenting opportunities and risks for investors. The price action analysis highlighted that MAGA witnessed an immense surge in May, just after the launch.
However, a correction was observed in the last couple of months, which took the price down 87% from its time high. Despite this, MAGA was nearly 1095.1% higher than its time-low value.
The recent price analysis indicated that the correction phase may end if the price surpasses the recent supply of $0.00012 level. Additionally, the token price may skyrocket again.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
