Meme coins with a political flavour, known as PolitiFi tokens, are showing massive strength in the lead-up to the 2024 US presidential election.

Trump-themed token MAGA is one of those making gains today, pumping by 19%. But with the election approaching, how far can it go in the coming weeks?

Traders See More Gains Before Election, But a Trump Win Would Be Huge For MAGA

MAGA coin holds a unique position in the crypto market. Its ticker symbol is the same one that made both of Trump’s presidential campaigns captivating and polarizing.

As such, it holds significant weight in the political sphere, with Trump even replying to MAGA’s tweet on X earlier this month.

In the past day, MAGA has started to outperform the largest Trump-themed meme coin, which holds the ticker symbol TRUMP.

And at the same time, its price chart has started to show signs of a more substantial upcoming rally.

Currently, MAGA is trading at $0.0002762, up 19% today, 74% this week, and 280% this month. It holds a $107 million market cap and a $38 million 24-hour trading volume, up 20% today.

Davie Satoshi notes that MAGA has broken above multiple resistance levels, showing strong momentum and indicating that the uptrend will continue.

Per the analyst’s price chart, we might see MAGA soar to $0.0004 in the coming days.

And on a lower time frame, analyst 0xAndr0meda highlights that it has broken above a wedge chart pattern, which reflects a resurgence in momentum and adds confluence to Davie Satoshi’s prediction.

Meanwhile, Thunder Capital responded to a tweet that MAGA coin is the top trending token on Binance, suggesting it will explode in the coming days.

The analyst targets MAGA’s previous highs around $0.0007

According to the prediction market Polymarket, Trump is the favorite in the presidential race.

Polymarket currently has him at a 66.3% chance of winning, which undoubtedly gives traders confidence in their Trump-focused crypto investments.

Should Trump become president, then there’s every chance we see even more capital inflows, potentially catapulting MAGA to the $0.0007 target set by Thunder Capital.

Even before the election, Davie Satoshi’s $0.0004 target is well within reach. This works out at a 45% gain from its current price.

But whether MAGA and other Trump-themed meme coins can sustain this run in a post-election world remains to be seen.

However, one PolitiFi token that is taking steps towards long-term success is FreeDum Fighters. It’s currently undergoing a presale and has raised $340K so far.