As a seasoned crypto analyst with over a decade of experience observing market trends and fluctuations, I find myself intrigued by this surge in meme coins following Donald Trump’s re-election victory. The meteoric rise of Maneki, Moo Deng, and Sundog has been nothing short of phenomenal, reminding me of the dot-com boom of the late 90s.
In the last 24 hours, Maneki, Moo Deng, and Sundog have experienced a rise of between 40% and 55%, with meme coins leading the charge in crypto trading, likely due to Donald Trump’s re-election as U.S. President.
As an analyst, I’m observing that Bitcoin (BTC) has surged yet again, breaking through the $76k mark and reaching a two-day consecutive all-time high. This upward trend is igniting a sense of excitement among bulls, fueling their optimism. Moreover, this surge has led to approximately 11,000 new Bitcoin millionaires joining the ranks.
On the other hand, meme coins have demonstrated remarkable growth, taking the lead among the top 500 cryptocurrencies by market capitalization, thus attracting substantial interest.
At this moment, Maneki – a meme coin built on Solana and featuring a feline theme – is experiencing significant growth, with more than 55% increase in value. Following a recent high-profile sports partnership, the Maneki token (MANEKI) has witnessed its price surge to a three-month peak of approximately $0.009. Earlier in the day, the meme coin was trading at a low of $0.006.
A standout meme coin among the top 500 is Moo Deng (MOODENG), built on the Solana platform and inspired by the viral baby hippo sensation. In recent months, MOODENG has soared to unprecedented heights due to factors like its Binance futures listing.
After Trump’s significant victory over Kamala Harris, the price of MOODENG surged noticeably, following news that a baby hippo had supposedly foretold a Republican triumph. On November 5th, the token was trading at $0.13, but it has since reached highs close to $0.30, marking a 50% increase over the past day.
Sundog (SUNDOG) is currently the most popular meme token on the Tron (TRX) network, with its popularity increasing as SunPump’s Meme Coin Launchpad came onto the scene to rival Pump.fun. The value of the Sundog token, though, has seen a decline after reaching over $0.37 in late September.
On U.S. Election Day, it was priced at $0.098. But in the last 24 hours, it has surged by 41%, maintaining an upward trend following a test of support around $0.13. As of now, SUNDOG is hovering close to $0.16, and if meme coins continue to rise, it might recover to its all-time high.
The win of Trump and the reduction in interest rates by the Federal Reserve might spark an upward trend for Bitcoin. It’s possible that other cryptocurrencies like altcoins will mirror this growth, while the demand for meme coins is expected to rise even more.
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2024-11-07 22:12