After Trump's election victory, a remarkable meme coin craze has swept through the crypto market. Does this mean we are entering the next bull market in cryptocurrency, or is it merely a short-term market enthusiasm?
Just last week, Trump unexpectedly won, and this political shock quickly transmitted to the crypto market. From institutional funds pouring into Bitcoin to speculators betting wildly on meme coins, market risk appetite surged sharply in a short time. According to data from CoinGecko, the total market capitalization of meme coins once surpassed 74 billion USD, even exceeding the market size of Lithuania or Ghana.
Particularly noteworthy is the government efficiency coin (D.O.G.E), as it is widely believed that Elon Musk may play a significant role in the Trump administration, leading to a 272% surge in D.O.G.E's price in just one week. Additionally, PEPE coin has also surged strongly due to the influence of some top meme coin traders, becoming the new darling of the market.
Dogecoin (DOGE), Shiba Inu (SHIB), and PEPE—the top three meme coins ranked by market capitalization—have recently performed well. Dogecoin's price surged by 93% with Musk's support for Trump's campaign, which is quite astonishing. The prices of Shiba Inu and PEPE also rose by 38.56% and 45.88%, respectively. The explosive growth of the meme coin market once again highlights the important role of market sentiment in political events.
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What do you think about this wave of meme coin frenzy? Could it be the beginning of a new bull market? Feel free to share your views in the comments!
The above content is for informational sharing only and does not constitute any investment advice! Investment carries risks; please enter the market with caution!
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