Dogecoin rises 19% as Trump’s win ignites Meme Coin FOMO.
Trump’s stance on cryptocurrency has inspired investor confidence.
Dogecoin, Shiba Inu and other meme coins soared Wednesday morning after Donald Trump won the US presidential election.
Trump’s victory pushed Bitcoin to record highs above $75,000 and increased demand for other high-risk cryptocurrency assets.
Dogecoin is up more than 19% and Shiba Inu is up nearly 7% amid an election rally, according to CoinMarketCap.
Chris Chunk, CEO of Titan, said, “President Trump has had a very positive opinion of the cryptocurrency market.”
“Signs of a possible win are likely to push prices up very quickly in anticipation of a flood of capital.”
High risk and reward in the MEMCOIN market
The recent surge in meme coins shows a growing appetite for high-risk investments, fueled by President Trump’s strong support for the cryptocurrency market.
His stance has given rise to what some analysts are calling the “Trump deal.” That’s because he’s established himself as a vocal advocate for cryptocurrencies, contrasting with his opponents’ less defined stance on digital assets.
But analysts warn that memecoins carry significant risks along with potential rewards. “In the long term, there will be very few winners in the memecoin market,” Rasmussen said, emphasizing how difficult it is to find sustained success in this rapidly changing field.
FOMO may further increase meme coin demand
Analysts say fears of missing out on gains could push prices higher as Trump’s policies appear to be friendly to cryptocurrencies.
Nic Puckrin, CEO of Coin Bureau, noted that part of Dogecoin’s rise could be due to “the very real prospect that Elon Musk could be appointed head of the Government Effectiveness Department in the Trump administration.”
Likewise, Bitwise Asset Management’s Ryan Rasmussen argued that he is “not surprised to see (meme coins) soar” due to their low market capitalization and liquidity.
However, a number of popular meme coins are currently gaining attention. One of them is the recently launched Pepe Unchained (PEPU), which raised over $24 million in the pre-sale phase. The project aims to build a layer 2 network focused on faster transactions and lower fees with a staking program that delivers returns of up to 96% APY.
Another one is Crypto All-Stars (STARS), which has strong community support. The unique “MemeVault” feature allows holders to stake a variety of meme tokens, with potential returns reportedly reaching 517% APY.
Lastly, Flockerz (FLOCK) attracted attention with its active community and “vote-to-win” model. This setup allows holders to participate in project decisions and receive rewards for voting, attracting younger investors interested in social engagement with cryptocurrencies.
