You might think it’s a joke, but memecoins like Dogecoin and Shiba Inu actually surged big time on a recent day. Why? Well, it's all tied to the U. S. election results. You see, former President Donald Trump was doing well, and traders thought this could be good news for cryptocurrencies.

Dogecoin, for example, saw its value jump by more than 22%, and Shiba Inu wasn't far behind with an 8% gain. Even bitcoin hit a new record high of $75, 000. Experts say it’s all about traders expecting big changes once election results come in.

In the days leading up to the election, memecoins and AI-related cryptos did better than the rest of the market. This is a sign that everyday investors are getting excited and are more willing to take risks.

Now, some experts warn that we shouldn’t get too carried away with memecoins. With so many new coins coming out each day, picking a winning one can feel like buying a lottery ticket.

Trump has been seen as good for the crypto market. If he wins, it could bring lots of money into cryptocurrencies. And Dogecoin fans are extra excited because Elon Musk, a known supporter of the Dogecoin, could possibly have a role in Trump's new government.

Crypto Markets Go Wild: Memecoins Jump as Traders Bet on Trump

Actions