The political meme coin niche has encountered turbulence in the past 24 hours.
Super Trump (TRUMP), one of the niche’s largest coins, has dropped over 8%.
It’s losing ground to a new contender, FreeDum Fighters (DUM), which many believe could have far better prospects.
STRUMP Struggles as Price Drops 27% From Local Highs
STRUMP’s slide continues, with the token now trading at $0.0074 – a 27% drop from last week’s high of $0.01.
The Trump-themed meme coin has struggled lately, closing in the red for three of the last four days.
And today isn’t looking much better.
Trading volumes have cooled off, with 24-hour volumes down to $435,000.
STRUMP’s market cap has also dropped to $17.1 million.
There doesn’t seem to be a specific reason for the sell-off – it’s more about traders locking in profits after last week’s rally, a trend that has hit most politics-themed cryptos.
But this dip might be short-lived with election day less than two weeks away.
Political hype tends to heat up as voting day approaches, which could renew interest in tokens like STRUMP.
Crypto analyst @renskieth thinks that will be the case.
He tweeted last week about STRUMP’s “great narrative” and how the chart is still “looking strong.”
Is STRUMP About to Rebound? Technical Factors Suggest It Might
Despite the recent dip, STRUMP’s fundamentals and technicals hint at a potential bounce.
The community is still growing, with over 14,200 holders, and thanks to an upcoming NFT collection, more might join soon.
On top of that, STRUMP’s burn mechanism, which destroys tokens with every transaction, could help boost price over time.
Super Trump’s price chart also looks promising for a rebound.
On the 4-hour timeframe, STRUMP has held an upward trendline despite the recent sell-off, with strong support at the 0.786 Fibonacci retracement level.
This setup often signals a potential reversal.
And combined with STRUMP’s deflationary tokenomics, this suggests the token could return to its local high of $0.01 soon.
That would represent a 41% rise from the current price.
All in all, even though the bears are still in control, the technicals suggest this dip could be a prime buying opportunity for traders with a high risk tolerance.
New PolitiFi Coin FreeDum Fighters Gains Momentum as Traders Flock to Discounted Presale
As STRUMP struggles to find its footing, more and more traders are shifting their attention to FreeDum Fighters, a new political meme coin.
This coin forms part of a new voting/staking system, where DUM holders stake their holdings to back their favorite political figures.
But there’s a twist.
Supporting a character like MAGATRON or Kamacop 9000 lets holders earn rewards from the opposing side’s pool, adding a fun spin to the ecosystem.
This setup has also translated to early buzz around FreeDum Fighters’ presale.
Right now, during the “Primaries” stage, investors can buy DUM tokens for just $0.00005 each.
However, this stage will only last one more day before the next begins – and the DUM price increases.
That means early investors get the best entry point.
FreeDum Fighters’ strategy seems to be working, with the project’s Twitter and Telegram channels growing significantly in the past few days.
The DUM token has also been featured on CoinSniper.net.
And crypto influencer ClayBro, who has over 130,000 YouTube subscribers, even claimed it could “send PolitiFi crypto tokens to the next level.”
All this buzz has traders wondering if FreeDum Fighters might have better prospects than Super Trump.
With its unique staking system, growing online community, and influencer backing, they might just be right.
