Meme coins are a special class of crypto assets that thrive primarily on hype and general market positivity. So, as soon as it became clear that Donald Trump would be the 47th President of the United States, Dogecoin and Shiba Inu headed to the moon.
Combined with Elon Musk’s continued drumming and support, meme coins are poised for a gigantic revival. And Dogecoin and Shiba Inu are already taking advantage of the situation to make serious gains.
Dogecoin price hits 3-year high after Donald Trump victory
Donald Trump didn’t start out as a crypto enthusiast, but his stance has changed over the past couple of years. Since his manifesto promised a favorable climate for blockchain companies, cryptocurrency prices surged after his election victory, and Dogecoin was not excluded.
Days after the election, Dogecoin price hit a 3-year high, reaching $0.33, half of its ATH price. Dogecoin also enjoys strong support from Elon Musk, who often touts it as a payment option for Tesla. This advertisement reinforces the general perception of DOGE, creating strong support for the token as well as a community of loyal fans.
It is safe to assume that the price of Dogecoin will continue to accelerate for the foreseeable future. In fact, crypto veterans predict that DOGE will ride the new crypto wave and believe it could even hit a new all-time high.
Shiba Inu burn rate exceeds 1,000%
Shiba Inu has a combustion mechanism designed to regulate SHIB’s vast supply and keep its price volatility to a minimum. Over the past weekend, Shiba Inu’s burn rate saw a 1,028% increase, as 463 million DOGE tokens were destroyed and removed from circulation.
This means that there are far fewer SHIB tokens in circulation currently, and the perceived scarcity has sent SHIB on the path to a massive rally. As a result, SHIB is up over 50% on the monthly scene. Many crypto enthusiasts can only see SHIB appreciating further in the coming weeks as coin hype reaches a frenzied level.
The effectiveness of the Shiba Inu burning mechanism as a price increase strategy, SHIB is nevertheless surrounded by an enthusiastic community. This support should keep SHIB on an upward trend despite widespread volatility and unexpected price corrections.
The Meme Army Awakens
For much of the year, meme coins like Dogecoin and Shiba Inu suffered multiple corrections as the hype around them died a natural death. But Trump’s victory seems to have brought new life to this sick body.
As a result, investors believe that Dogecoin and Shiba Inu would embark on a serious monster rally that would net investors incredible profits. At the same time, they also point to Lunex Network, a Web3 hybrid exchange token, as another coin destined for notable gains.
Lunex network incorporates special technology that allows traders to trade over 50,000 crypto trading pairs across 40 different blockchain networks. It is still on presale, available for just $0.0021 per token. This low entry price is not only affordable, it is extremely attractive as it offers gigantic room for future growth.
You can find more information about the Lunex Network (LNEX) here:
Website: https://lunexnetwork.com
Social networks:https://linktr.ee/lunexnetwork
This is a sponsored post. The opinions expressed are solely those of the sponsor and readers should conduct due diligence before taking any action based on the information presented in this article.