Donald Trump and Kamala Harris Memecoins Face Volatility as Debate Nears

Donald Trump and Kamala Harris Memecoins Face Volatility as Debate Nears

NOIDA (CoinChapter.com)— The Kamala Harris and Donald Trump fan-themed memecoins have experienced contrasting price movements ahead of the upcoming U.S. presidential debate.

For instance, a Vice President Kamala Harris-inspired memecoin spiked nearly 10% after Russian President Vladimir Putin made recent remarks, driving increased attention and speculation around the token.

Meanwhile, MAGA, linked to Donald Trump’s campaign slogan, saw a 4% decline in value over the past day. Both tokens have shown heightened volatility recently as political events influence trading behavior, although neither is officially affiliated with their respective political figures.

Depending on how it turns out, the upcoming U.S. presidential debate could decide the price direction for both tokens.

KAMA Coin Forms Bullish Setup

The Kama coin, a ‘parody satire politifi memecoin‘ on Solana that follows Kamala Harris, has formed a bullish technical setup called the ‘ascending triangle‘ on the daily charts.

KAMAUSDT price formed a bullish setup with a 107% upside target. Source: Tradingview

The pattern occurs when a horizontal resistance line connects swing highs while an ascending trendline links higher swing lows. This setup suggests increasing buying pressure as the price approaches the resistance level.

The significance of this pattern lies in the potential for a breakout. A surge in trading volume as the price nears the resistance level typically confirms the likelihood of a breakout above it.

The ascending triangle formation indicates that buyers are gaining strength, and a successful breakout could lead to further upward momentum for the KAMA USDT pair. This technical setup provides a clear framework for assessing potential price movements in the near term.

In technical analysis, traders calculate the pattern’s price target by measuring its height and projecting it from the breakout point. This calculation suggests a price target near $0.0175 for the KAMA token, a spike of nearly 106% from the current level.

KAMAUSDT daily price chart with RSI.

If Donald Trump fails to shine in the upcoming debate, the Kamala Harris Coin price could start a rally. KAMA price could rise to the resistance near $0.0097. Moreover, flipping the immediate resistance could help the KAMA token price target the resistance near $0.011.

On the other hand, a positive outcome for former president Trump might force the Kamala Harris Coin to test the support levels near $0.0077 and $0.00663.

The RSI remained neutral for the KAMA USDT pair, scoring 41.33 on the daily charts.

Kamala Harris Tokens Waiting For Cues

Currently, KAMA price action remains lateral, suggesting a possible indecision in the market. Moreover, other Kamala Harris-themed tokens exhibited similar price action.

HARRIS price action since launch. Source: CMC

For instance, the HARRIS token did not show much volatility, as the token failed to move above the $0.0008 mark. The Solana-based memecoin has a supply of 1 trillion HARRIS tokens and claims to support VP Harris’s quest to become the first woman US president.

KAMALA price action over the last 30 days. Source: CMC

Another token, KAMALA, presented a bearish outlook, with the price dropping to $0.0013 after nearly breaching the $0.0015 price level.

On a possibly unrelated note, a memecoin called KRAZY KAMALA painted a massive 35% rally on Sept. 10, going from $0.0006 to a daily high near $0.00081.

The project’s website was down at the time of writing. On CoinMarketCap, it claims that “the unpredictable and extreme character of Kamala” inspired the project.

Though it does not state any affiliation or support for VP Harris, a spike in the price of a token named KRAZY KAMALA on the eve of a debate might indicate public opinion.

Donald Trump Meme Token’s Price Remained Bearish

Meanwhile, the Donald Trump themed memecoin, MAGA, has suffered bearish times recently. However, the memecoin boasts one of the highest price tags in the segment, which suggests a strong buyer community.

However, the MAGA USDT pair has formed a bearish pattern called the ‘bear pennant.‘

MAGAUSDT pair formed a bearish pattern with a 65% downside target. Source: Tradingview

A bear pennant is a bearish continuation pattern that typically appears after a strong downward movement in cryptocurrency prices, indicating the potential for further declines.

It consists of two key phases: a steep price drop, known as the flagpole, followed by a brief consolidation period where the price moves within converging trendlines, forming the pennant.

Per the rules of technical analysis, volume is crucial in confirming the pattern. During the consolidation phase, volumes tend to decline, signaling that the market is temporarily indecisive.

When the price breaks out from the pennant, trading volume should increase. The rise in volume confirms the strength of the bearish continuation.

Traders determine the price target for a bear pennant by applying the flagpole’s height to the breakout point. If this pattern plays out for the MAGA token, the projected downside target could be around $1.18, representing a drop of nearly 65% from its current price levels.

MAGAUSDT daily price chart with RSI.

On Sept. 10, the Donald Trump-themed token’s price action seemed indecisive, with long wicks on both sides of an awfully thin candle. Yet, a blunder by Kamala Harris could lend MAGA coin price the impetus needed to target the resistance near $3.7 and $4.17.

Conversely, if support for Vice President Kamala Harris rises, it could trickle into the crypto sector. The resulting sell-off could force the MAGA USDT pair prices to test the support levels near $3.1 and $2.8 before recovering.

The RSI remained neutral, with a score of 48.31 on the daily charts.

The Cousins From Alabama Join The Party

Like Kamala Harris, Donald Trump has inspired multiple memecoins, projects with various names and tickers.

Because it is not enough to make America great once.

For instance, MAGAA, a memecoin that supports the simple yet annoyingly confusing goal of making America great again one more time. The memecoin spiked nearly 13% on Sept. 10 to trade above $0.008.

The Donald Trump coin price action over the past 7 days. Source: CoinMarketCap

Another memecoin, which did not bother to spare much thought to the naming process (or did it?) is the Donald Trump (TRUMP) coin. However, the token had quite a mixed day on Sept. 10 as TRUMP price rose over 61% to a daily high near $0.0029 before dropping to $0.0024.

Most of the memecoins have remained more or less impassive in the run up to the debate, suggesting market participants await the debate’s outcome before deciding which memecoin to choose.