The price of the MAGA (TRUMP) meme token, dedicated to former US President Donald Trump, is plummeting as the politician's chances of winning the upcoming election fall.
On October 31, users of the cryptocurrency betting site Polymarket began actively betting on Trump's rival Kamala Harris to win, so the likelihood of Donald's victory decreased by 16% and now stands at 56%. Apparently, before the vote scheduled for November 5, the politicians' chances will be almost equal, so the intrigue will remain until the voting results are announced.
The turmoil in the election betting market has affected the price of MAGA. Since October 31, when Trump began to lose ground, the coin fell in price by 36%, and on Sunday its value dropped to its lowest since the end of September at $2,6. After reaching the bottom, the cryptocurrency rate increased as a result of a rebound, but the contracting triangle forming on the chart indicates a continuation of the downward trend in the medium term.
Formation of a contracting triangle on the MAGA exchange rate chart
The cost of the Kamala Horris (KAMA) token, created in honor of Kamala, on the contrary, is growing incredibly fast. Since November 1, the price of this cryptocurrency took off more than two and a half times and reached $0,019, which is a record figure since the end of July.
Kamala Horris Cryptocurrency Rise
