MAGA Coins Consolidate, But More Gains Likely Still to Come as This Memecoin Burns Up the Charts

The U.S. Presidential Election is still 7 months away, but its impact can be felt in different spheres of the country’s economic and social life, and the crypto market is no exception. With predictions of the return of Donald J. Trump as the 47th President of the U.S., the MAGA coins, which are the acronym of his famous slogan “Make America Great Again” during his 2020 election campaigns, have surged in price.

Should you expect more price hikes as we move closer to the election? Find out if MAGA memecoins can outperform $GFOX before, during, and after the presidential election.

The Many Versions of MAGA Coins

The MAGA coin is a meme coin project in honor of the former president of the U.S., Donald J. Trump, and his presidential aspirations for the 2024 election. While these coins have incorporated various elements of Trump’s persona, the first thing to note is that the coin is not affiliated with the former president. Hence, any semblance of Trump is merely satirical. 

The MAGA coin was created in August 2023 on the Ethereum blockchain. According to its creators, the coin was designed to depict their confidence in Trump’s “inevitable” re-election. They also claim that a percentage of the collected taxes is used to support U.S. Veterans, prevent child trafficking, and fund the coin’s marketing, development, and liquidity.

In the past 6 months, the meme coin has experienced significant price fluctuations. Some data revealed that the coin went live at a price of $2.91, but dwindled over the last quarter of 2023. However, in the last two months, Trump’s popularity at the polls has directly impacted the coin’s performance. Only last week, the coin had a price increase of 68.21%. The coin is reportedly 62.25% higher in February than its price in early January 2024. 

Analysts have hinted that the MAGA coin will gain more popularity in 2024  because of the attention on Trump in the months ahead of the U.S. Presidential elections. Investors consider the coin a way to profit from the hype surrounding Trump’s campaign. 

Currently, the MAGA coin has a market cap of over $90 million and $3.3 million in trading volume. Aside from speculations on Trump’s re-election, the coin’s performance appears to be influenced by political developments in both the Republican and Democratic parties and reports from right-wing and left-wing media houses. While MAGA coin is currently doing well on the price charts, the factors influencing its price raise questions about its viability.

$GFOX is Blazing the Charts with Steady Price Progress

$GFOX has been described as the “rocket fuel” behind the Galaxy Fox ecosystem, and understandably so. The token is not just a means of exchange but also provides access to various features within the Galaxy Fox ecosystem, like gaming rewards, staking, and NFT purchases.

The $GFOX token operates on specific tokenomics, including a burning campaign and buying and selling taxes. The platform’s mechanisms ensure a diminishing total supply, leading to the appreciation of the token’s value over time. 

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With $GFOX, investors have multiple opportunities to earn passive income. The platform’s treasury fund rewards the top 20% of performers in its gaming ecosystem with gifts they can exchange for $GFOX. The network plans to launch a collection of 3,000 unique NFTs exclusively reserved for $GFOX token holders. The platform also has a merchandise shop with profitable products that support its treasury and community’s growth.

Galaxy Fox has incorporated a staking module called “Stargate.” This module was designed to automatically collect 2% of all ecosystem transactions and distribute the accumulated amount to $GFOX stakers. This not only becomes a source of passive income for the token holders, but it also contributes to the hyper-deflationary incentive of the network.

The $GFOX token’s presale model is designed to increase early backers’ investments, with the price steadily increasing from its second presale stage. The token is currently $0.002178. For its impressive utility and price potential, this is by far one of the most affordable tokens in the crypto market.

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Final Thoughts

The MAGA “Trump” coin, though not officially affiliated with Donald J. Trump, has earned its popularity as Trump’s 2024 election meme coin project. Hence, its performance has been subject to major price fluctuations. The only bright side of this coin is the profit investors may make from the hype surrounding Trump’s campaign. At the end of the election, the coin may be worth very little since it was designed for campaign purposes.

On the other hand, Galaxy Fox’s $GFOX token offers investors a lifetime opportunity to participate in a rewarding play-to-earn gaming network with the potential for token value appreciation, staking rewards, and access to exclusive NFT collections. There is no better crypto investment than $GFOX, and now is the best time to buy.

Learn more about $GFOX here:

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Felix Küster
Felix Küster

Felix Kuester works as an analyst and content manager for Captainaltcoin and specializes in chart analysis and blockchain technology. He is also actively involved in the crypto community - both online as a central contact in the Facebook and Telegram channel of Captainaltcoin and offline as an interviewer he always maintains an ongoing interaction with startups, developers and visionaries. The physicist has couple of years of professional experience as project manager and technological consultant. Felix has for many years been enthusiastic not only about the technological dimension of crypto currencies, but also about the socio-economic vision behind them.