⇘ WIN Coin: The Effects of Post-Election Surge in Cryptos
Post-election euphoria in the cryptocurrency world is becoming increasingly evident, as the resounding win of President Trump affects not only...
Various cryptocurrencies have experienced a significant surge related to post U.S. election events. Among them, the prices of Pepe Coin and DogeCoin skyrocketed with the latter seeing a 145% increase since Donald Trump's win. This wave of excitement also impacted other meme coins, with few such as Yeti Ouro and Aria coin gaining considerable attention.
In particular, Bitcoin notably increased to nearly $90,000, setting a new record high. The victory of Donald Trump in the elections seems to have sparked a renewed interest in cryptocurrencies, pushing many altcoins into a bullish market. Companies like MicroStrategy and Coinbase are using this opportunity to leverage their investment strategies, with the latter advocating for SEC reform. Also, MAGA Coin, a crypto initiated for Trump supporters, faced a drastic 35% drop after the election.
However, some experts argue that this crypto rally is not solely driven by Trump's victory. Even if that's a contributing factor, specific cryptocurrencies like Ethereum and Binance Coin are expected to gain from it substantially. In contrast, there are also apprehensions that a possible Kamal Harris win could adversely impact Bitcoin’s price.
Despite this, some new tokens like $4WIN PolitiFi Coin have used the electoral setting to their advantage, showing substantial growth. While such developments may appear beneficial at the moment, they have raised concerns about speculative investments in the crypto market.
Various developments have been noted in the meme coin market too. For instance, Dogecoin’s founder expressed his wish for a Trump victory while others like Coinbase and Nyse, Cboe focus on legal wins around cryptocurrencies.
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