Dogecoin factors in a victory for Donald Trump just hours before the results of the US presidential election are announced.
After trading at $0.143 on Sunday, DOGE price surged to $0.17 on Tuesday, a growth of almost 20% in 2 days.
Experts predict that a Donald Trump victory could trigger a parabolic rally in Dogecoin and, consequently, the coin’s supercycle. Low-cap meme tokens like Mog Coin, Coq Inu and Pepe unleashed also appear poised for a bullish breakout, with experts calling them the best meme coins to buy now.
Does Dogecoin Price Rally Hint at a Donald Trump Victory?
Bitcoin may not be the ideal bet on Donald Trump. After all, analysts – including the $725 billion asset management firm Bernstein – predict that BTC will reach six figures in 2025, regardless of who wins the election.
On the contrary, Dogecoin will most likely generate outsized returns in the event of a Trump victory.
The world’s richest man and biggest supporter of Dogecoin, Elon Musk, was one of the most vocal supporters of Donald Trump’s re-election campaign. Musk also agreed to lead a commission on government efficiency within the Trump administration, which he calls the Department of Government Effectiveness, or DOGE.
Dogecoin price usually rebounds following any positive news related to Elon. For example, DOGE’s market capitalization doubled after Musk completed his acquisition of X, formerly known as Twitter.
If the Department of Government Efficiency becomes a reality following a Trump victory, the price of Dogecoin could see outsized growth.
Bulls have also speculated on the possibility of a Spot Dogecoin ETF, given that the former chairman promised to fire SEC Chairman Gary Gensler and replace him with a pro-crypto head of the agency.
As Dogecoin price rises hours before the US presidential elections are announced, whales and smart investors appear confident in Trump’s victory.
Is DOGE the best coin to buy now?
Considering that smart investors view Dogecoin as a proxy for Trump, experts advise marginalized investors and swing traders to buy DOGE only after the former president officially wins the White House.
While election bettors Polymarket And Kalshi Much like Trump’s odds, most pollsters continue to view the race as a toss-up, with even a slight edge going to Vice President Kamala Harris.
In the scenario of a Trump victory, bulls simply need to secure a sustained close above $0.20 resistance to initiate a parabolic rally to a new all-time high. On the contrary, they will have to stay above the support of $0.14 in case of Harris victory.
Experts also believe that a Dogecoin rally could kick off the meme coin supercycle. If DOGE skyrockets to $1, most new meme coins Solana and Ethereum could also generate outsized returns.
Pepe Unchained, Mog Coin and other new Meme coins also in high demand
New meme coins are in high demand with investors anticipating a meme coin supercycle in the near future.
For example, Mog Coin is up more than 120% on Tuesday, as is Inu Rooster. Meanwhile, the Solana meme piece Michi is up 15% in the last 24 hours.
Pepe Unchained (PEPU) – one of the hottest pre-sales of 2024 – continues to benefit from strong investment in whales and retailers. It is now poised to hit the $25 million milestone, a rare feat for a meme coin that hasn’t even launched yet.
Pepe Unchained is a low cap, utility coin. Its layer 2 ecosystem – which will offer extremely low trading costs and instant transactions – is also expected to go live after the pre-sale, adding to the hype surrounding the project.
The meme coin also has a staking protocol for early pre-sale buyers. Despite raising almost $25 million in its ICO, the staking pool still offers a 96% APY reward rate.
As the meme coin supercycle appears imminent, low-cap meme coins like PEPU could see outsized growth. Leading crypto investors are eyeing returns between 10 and 100 for Pepe Unchained, depending on the broader market outlook.
A few influencers also consider it one of the best meme coins to buy now.
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