Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
- Trump’s victory has spurred gains across the crypto market, impacting Bitcoin and a range of political-themed memecoins
- Memecoins like MAGA and DJT are seeing standout performances, echoing the sentiment-driven rise in crypto assets
- With Bitcoin dominance still strong, this election boost highlights the potential influence of political events on the altcoin market
Not only Bitcoin is smiling: following Trump’s victory in the U.S. elections, the “electoral” memecoins are lifting the entire sector, according to CoinGecko.
How much will Trump’s victory impact crypto?
Donald Trump’s victory in the U.S. elections isn’t just good news for Bitcoin. I think it’s fair to say that the crypto markets have reacted positively overall, with notable performances from “electoral” memecoins, which have stood out in the altcoin world.
BTC Dominance and Altcoin Surge
It remains to be seen how the market will react once the current euphoria fades, especially in a context where BTC dominance remains at its peak. But for now, I’d say it seems clear: the U.S. elections are not just a matter of Bitcoin and Ethereum, and indeed, they could be decisive for the future of the altcoin world.
Tokens linked to the U.S. political sphere have reaped the greatest rewards.
Among the most “talked about” are MAGA and DJT, closely followed by memecoins “tangential” to the theme like DOGE and ELON. And if you ask me, this movement behind them feels like a direct replication of BTC’s, with double-digit percentage gains in the last 24 hours.
In Conclusion: Trump’s Impact on Crypto
In conclusion, I think Trump’s victory has given a significant boost to the entire crypto market, highlighting the influence of political events on cryptocurrency prices. While Bitcoin maintains its dominance, “electoral” memecoins like MAGA and DJT show that even altcoins can benefit from global events.
It remains to be seen if this momentum will last or if the euphoria is temporary, but for now, I believe the crypto sector seems ready to ride the wave.
Publication date
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.