Dogecoin’s DOGE is leading the ranks in the meme coin segment. It is currently ranked at the 8th spot on the list of cryptocurrencies across the globe. DOGE sports a market cap of more than $19 billion; however, it could soon be closing the gates for a further rise. An ETH-based PolitiFi token, MAGA VP, has been launched. It joins the ecosystem of MAGA TRUMP to potentially follow in the footsteps in terms of Market Cap.
What makes MAGA VP, also known as MVP, an ideal candidate here is its rise by 98.36% in the last 30 days. The token value is at $0.1134, with the potential to rise as high as $4 by the end of this year, that is, 2024. There are two essential objectives of MAGA VP. One, revolutionize the sphere of meme coins by leading the PolitiFi narrative. Two, reward the holders of MAGA TRUMP.
MAGA VP has allocated 1%of the buy/sell tax to TRUMP token rewards. What also makes MAGA VP an ideal candidate to dethrone DOGE on the charts is the mention of 0% transaction tax in their tokenomics. The token is already backed by 11 centralized exchanges wherein traders can buy and trade MVP. The roadmap clarifies that more listings are on the way as it aims to forge strategic partnerships in the times to come.
Meanwhile, DOGE is struggling to sustain the uptrend. It was last seen down by 5.26% in the last 24 hours. Dogecoin is exchanging hands at $0.1252 at the time of writing this piece. It further reflects a fall of 16.97% in the last 7 days and 33.7% in the last 30 days.
Market sentiments for DOGE are fading away. This is evident from the technical indicators like EMA. It has been hinted that it will see a bullish resurgence only at $0.156 and $0.168. Otherwise, it is mostly a cautious narrative and a tug-of-war between bulls and bears. The Relative Strength Index is around 50 levels. This demonstrates that DOGE is indeed hanging on a thread.
A dip below $0.12 will open the doors for a larger fall of DOGE.
Meanwhile, the market cap of meme coins has slipped by 3.52% to $47.3 billion. The trading volume, however, is up by 19.12% at $4.4 billion. Predictions for MAGA VP estimate an upward movement to $0.44. It will simultaneously have to fuel the market cap, which is currently at $5.4 million. DOGE sports a market cap of $19 billion. So, there is a long road to cover in terms of the market cap. Token value is a different story, and MAGA VP should not have an issue overcoming that aspect.
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