Following Donald Trump's reelection for a second term in the US presidential election, meme coins have shown notable gains. Bitcoin reached a new record, and the crypto community has seen an increase in millionaires.
Post-Election Meme Coin Surge
Meme coins like Maneki, Moo Deng, and Sundog experienced substantial price gains after Donald Trump's victory in the US presidential election. This surge was driven by increased attention on the market following the Republican win.
Success of Individual Meme Coins
Maneki, Solana-based and cat-themed, saw a more than 55% rise, reaching a three-month high above $0.009. Moo Deng, also on Solana, surged following predictive support tied to Trump's victory, reaching price peaks near $0.30. Sundog, a Tron-based token, gained 41% following the election, boosting prices to $0.16.
Bitcoin and Economic Policy Impact
Bitcoin hit a new all-time high above $76,000. Low interest rates from the US Federal Reserve and Trump's reelection set the stage for further cryptocurrency price rises, also driving interest in meme coins.
Political events and economic policy have significant impacts on cryptocurrency markets. Meme coins have capitalized on the current situation and could become even more attractive to investors in the near future.
