The post ConstitutionDAO Price Prediction: Will $PEOPLE Explode As the November Election Nears? appeared first on Coinpedia Fintech News
As the US presidential election nears, interest in PolitiFi tokens is soaring. Constitution DAO ($PEOPLE) is currently the largest PoltiiFi token by market cap, so will it make gains in the coming weeks?
$PEOPLE Trading Volume Rising, Traders Predict Next Leg Up
The crypto market is in the red today, yet ConstitutionDAO is up 1.99%.
Showing relative strength against the broader market, the project’s 24-hour trading volume is also soaring. Per CoinMarketCap data, its volume is at $132 million, up 61% today.
Currently, $PEOPLE is trading at $0.081, up 1.99% today, down 1.59% this week, and up 28.98% this month.
According to analyst Crypto_Jobs, $PEOPLE trades above a trendline support level and is incrementally making higher highs after breaking a trendline resistance.
This follows a retracement that began in August, but its recent rally signal that momentum is shifting bullish.
According to the analyst, traders can expect an approximate 2x gain toward $0.16 in the coming weeks, provided the trendline support holds.
However, a break below the support level could spark a move to the downside, with Crypto_Jobs looking toward a long-term level of $0.05.
Meanwhile, TradingView analyst AK47_ol suggests that $PEOPLE is trading inside a bullish rising channel and could be set for its next leg up.
Based on the 4-hour time frame, the analyst highlighted a confluence of five technical indicators that suggest that $PEOPLE has “bottomed out,” allowing it to begin an ascent toward its local highs.
According to the analyst’s price chart, the next leg up could see ConstitutionDAO rise toward $0.1.
ConstitutionDAO was a project that emerged in 2021 that attempted to buy the original copy of the US Constitution. Users crowd-pooled their funds, raising $47 million, but were ultimately unsuccessful due to insufficient capital to “insure, store, and transport the document.”
The DAO soon after closed its doors and offered its investors a refund, but the $PEOPLE token remains active to this day, with community members implementing it in new use cases.
One of those is the PeopleDAO, a crypto incubator with a largely political flavor. The project has frequently posted about the elections on social media and clearly favors GOP policies.
This could explain its recent strength and also provide a tailwind for growth, should Trump win the election in November.
Considering that, AK47_ol’s resistance target of $0.1 should be easily met, and Crypto_Jobs’ $0.16 target is also reasonable.
However, with a market cap of over $470 million, $PEOPLE’s upside is limited as compared to new viral PolitiFi tokens like FreeDum Fighters. The project is currently undergoing a presale and is raising funds to build the world’s first PolitiFi-focused ecosystem.
FreeDum Fighters Raises $250K As Analyst Says It Can 100X
Getting in early to cryptocurrencies can result in disproportionate gains, which is exactly what traders hope for with FreeDum Fighters ($DUM).
Although it just launched a couple of days ago, it has already raised $250K in its presale, reflecting a strong appetite among investors.
But it’s no surprise. The project has an entire ecosystem built around political satire, gamification, and emergent blockchain technology.
Its main feature is staking pools “MAGATRON” and “Kamacop 9000.” Each represents one of the two presidential candidates, and presale investors are invited to stake in either one.
Staking rewards will be paid out to the pool of whichever candidate performs better in the election. So, with Democrats fearing Harris is losing, MAGATRON stakers will get paid. However, whichever pool has fewer staked tokens has a higher APY, adding excitement and unpredictability.
The project also has weekly debates where community members can craft compelling arguments to win $DUM tokens.
Moreover, there are features like an “Ask Joe” AI chatbot, filled with hilarious incoherent ramblings, and there’s also a referral scheme that lets users generate commissions.
It’s an entire ecosystem geared around the biggest political events in years, and analysts think it will explode.
Umar Khan just labelled it the “Next 100x meme coin.”
However, the analyst also pointed out that the price will rise throughout the presale.
As such, those seeking the most value for money should act quickly.