Dogecoin (DOGE) Surges Ahead of US Elections – Here’s What’s Fueling the Rally

While many crypto traders expected Bitcoin to lead a pre-election rally in the U.S., it's Dogecoin (DOGE) that's stealing the spotlight as election day approaches. Over the past week, Bitcoin (BTC) has remained mostly flat, even losing around 3% of its value. Meanwhile, Dogecoin saw a significant boost on election day, jumping over 10% and becoming one of the best-performing altcoins globally.

Why Meme Coins Could Outperform, No Matter the Election Outcome

Crypto analyst Miles Deutscher recently shared his perspective with his 555,000 followers on X (formerly Twitter), suggesting that meme coins like Dogecoin may be the sector to watch regardless of who wins the election. Deutscher points out that a Trump victory could drive a rally in Dogecoin, particularly with the potential influence of the “D.O.G.E” initiative. As the top meme coin, a Dogecoin surge could spark broader interest and a flow of liquidity into the meme coin sector, potentially igniting a chain reaction of growth.

According to Deutscher, meme coins have already shown resilience in the market before the election, despite some recent dips as investors took risk off the table. Now, with election volatility looming, meme coins could be well-positioned for a stronger rebound as investors adjust their portfolios in response to a possible Trump victory.

Alternative Scenario and Market Shifts

If the election instead results in a Kamala Harris presidency, Deutscher believes that regulatory concerns around utility tokens could drive investors toward meme coins. The possibility of renewed regulatory scrutiny, similar to previous "Operation Chokepoint"-style crackdowns, could lead investors to shift away from DeFi and utility token sectors in favor of speculative assets like meme coins.

Meme coins have gained traction among retail investors, who have found them to be relatively stable compared to other altcoins this year. This stability, along with meme coins’ resilience, might position them as a hedge against regulatory uncertainties in the crypto space.

Deutscher suggests that while investors could start repositioning now after recent market drawdowns, the best opportunities may emerge during or shortly after any election-driven market fluctuations.

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