Kamala Horris (KAMA), the meme coin linked to current US Vice President Kamala Harris, is down 28% in the last seven days. This development comes following rising odds that Republican candidate and former president Donald Trump could win the next elections.

About one week ago, KAMA’s price was $0.0087. Today, the cryptocurrency is trading at $0.0059, and this analysis explains why the value of meme coins might continue to sink.

The Kamala Harris meme coin decline could be linked to the fact that the odds are clearly in favor of Trump winning the election. A few weeks back, both candidates were at loggerheads, as the bettors on the decentralized betting platform Polymarket were divided about who would win the election.

However, as of this writing, things have changed. According to Polymarket bets, Trump’s chances of becoming US president by next month have surged to 59.7%. Harris, on the other hand, lags with 40.2% in the VP’s favor.

As previously reported, crypto appears to play a key part in potential voters’ decision-making. While Trump has repeatedly declared his support for the industry and launched a token, Harris appears to be on the sidelines even though a recent action shows she has changed her stance.

Read more: What Are Meme Coins?

Following this development, the Bull Bear Power (BBP) shows a massive decline on the KAMA/USDT 4-hour chart. The BBP measures the strength of buyers (bulls) compared to sellers (bears).

When the reading rises, bulls are in control, and the price can increase. But in this case, the indicator’s reading has dropped, suggesting that bears are dominant. If this remains the same, then KAMA’s price could decline much further.

KAMA Price Prediction: Continued Decline Expected

Looking at the 4-hour chart, KAMA’s price is below the key Exponential Moving Averages (EMA). As seen below, the 20 EMA (blue) and 50 EMA (yellow) are all above the meme coin’s value.

Assuming KAMA’s price was above the EMA, the trend would have been bullish. But since it is below it, Kamala Horris’s trend is bearish and might continue to remain like that in the short term. The trading volume also declined and showed high selling pressure, reinforcing the bearish bias. 

Read more: 11 Top Solana Meme Coins to Watch in October 2024

Should this stay the same, KAMA’s price might plunge to $0.0051. However, if Kamala Harris’ odds of winning the elections improve, the meme coin might experience a rebound toward $0.0073. 

Litecoin’s (LTC) price has increased by 6.70% today and reclaimed the $70 level for the first time in nearly two months. This notable increase comes after investment firm Canary Capital disclosed that it is pursuing a Litecoin exchange-traded fund (ETF) with the SEC.

With the ETF filing acting as a catalyst, this on-chain analysis highlights how Litecoin’s price could experience a substantial surge. Should Litecoin’s price continue to rise, investor interest may surge. This could also allow long-term holders to unlock profits after months of volatility.

ETF Speculation Lifts Litecoin

Litecoin’s 6.70% price increase today positions it as one of the top gainers out of the top 100 coins. Data from CoinGecko shows it is only behind Dogecoin (DOGE), which has surged by 8% over the last 24 hours. 

As mentioned above, Canary Capital’s announcement of its pursuit of a Litecoin ETF with the US SEC is the rally’s driving force. Despite that, on-chain data from IntoTheBlock reveals that a significant portion of Litecoin holders have not yet benefited from the recent price surge.

According to the In/Out of Money Around Price (IOMAP) metric, around 840,000 LTC addresses bought their coins between $71.54 and $81.14. This suggests that these holders are still “underwater,” as the current price of LTC remains below their entry levels. 

Read more: Litecoin vs. Ethereum: What’s the Difference?

Until LTC surpasses this level, those who purchased in this range might continue to face selling pressure as they seek to break even. However, if Litecoin’s price continues to climb, these holders may be poised to unlock significant profits. Consequently, this could also Litecoin to break through to $80.14.

Beyond this, Litecoin Open Interest climbed to $243.09 million. OI, as it is commonly called, refers to the sum of the value of open contracts in the market. When it decreases, traders remove liquidity from contracts linked to cryptocurrency.

An increase, on the other hand, indicates a rise in speculative activities with LTC. From a trading perspective, rising OI and price could lead to further price appreciation. 

LTC Price Prediction: Free from Bearish Channel

Litecoin has shown impressive price action following the news of the ETF filing, breaking out of its previous descending channel. This breakout signals a potential shift, possibly ending the bearish pressure that had been holding LTC back in the short term.

If this positive momentum continues, Litecoin’s value could see a significant 35% jump that could take it to $95.60. In a more bullish scenario, LTC price could surpass the $100 mark again, rekindling investor confidence and drawing in more buying activity.

Read more: How To Buy Litecoin (LTC) in 4 Easy Steps

However, it’s important to monitor developments surrounding the ETF filing with the SEC. If the chances of approval begin to diminish, LTC could fall back to around $63.40. This scenario would highlight the impact that regulatory uncertainty can have on both short-term and long-term price movements.

First Neiro on Ethereum (NEIRO) is experiencing a price pullback after a prolonged surge that saw the meme coin hit several all-time highs over the past month.

Now trading at $0.0020, NEIRO has dropped 14% in the last 24 hours, making it the top market loser.

First Neiro on Ethereum Sees Spike in Selloffs

An uptick in trading volume has accompanied NEIRO’s double-digit decline over the past 24 hours. During the period in review, this has totaled $685 million, climbing by 12%. 

When an asset’s price declines but trading volume rises, it suggests investors are selling off to lock in profits after significant gains. Higher volume during price drops may also indicate panic selling, as traders rush to exit positions in response to falling prices, potentially accelerating the decline.

Read more: 12 Best Altcoin Exchanges for Crypto Trading in October 2024

The decline in NEIRO holdings among whales, or large investors, reinforces this bearish outlook. Over the past week, NEIRO whales holding between 1 million and 100 million tokens have steadily reduced their exposure.

On-chain data reveals that this group now consists of 1,252 addresses, having seen a 5% drop in their count in just seven days. A decline in large holders can signal that the asset is becoming less attractive, leading to decreased trading activity.

NEIRO Price Prediction: A Resurgence In Demand Is What Is Needed

Readings from NEIRO’s moving average convergence/divergence (MACD) indicator show that its MACD line (blue) has crossed below its signal line (orange) and is in a downtrend toward the zero line. 

When the MACD line falls below the signal line, it suggests that the market momentum is shifting from bullish to bearish, indicating that selling pressure may be increasing. Further movement toward the zero line suggests a strengthening downtrend. If this persists, NEIRO’s price will extend its downward trend and may fall by 55% to $0.00091.

Read more: Best Crypto To Buy Now: Top Coins To Keep an Eye on in October 2024

However, if it witnesses a resurgence in demand, the NEIRO’s price may reclaim its all-time high of $0.0023 and attempt a rally past it.