The crypto market is abuzz after a massive bull run saw Bitcoin (BTC) break new records. Altcoins, specifically memecoins, also reached new highs, and their run is likely to continue as we near the start of the altcoin season.
The crypto market has exploded, with Bitcoin setting new ATHs day after day and altcoins making double-digit daily gains. A fierce bull run was triggered after the pro-crypto republican candidate Donald Trump secured victory in the US presidential election. BTC set its all-time high yesterday after reaching $93,434. The market has since corrected, but this was anticipated following such an explosive run.
Pauline Shangett, CMO at ChangeNOW, commented on the market’s correction, stating:
“The recent bull run exceeded everyone’s expectations but ultimately faced a correction. We knew this would happen, and great things still await us in the run-up to the presidential inauguration and the upcoming altcoin season.”
Bitcoin Sets the Stage for Altcoin Greatness
Bitcoin’s impressive surge following the election result sparked renewed interest in cryptocurrencies. With BTC setting the example, altcoin have firmly followed in its footsteps, and the memecoin sector gained immensely. The latest bull is giving market watchers a glimpse of what is possible as traders and investors gear up for altcoin season.
Let’s look at some of the hottest memecoins with immense profit potential.
Dogecoin (DOGE)
Dogecoin (DOGE) is the largest memecoin by market cap and is the 6th largest crypto with a market cap exceeding $57.5 billion. Elon Musk, the world’s richest man with a net worth exceeding $300 billion, is the CEO of Tesla, owner of social media platform X (formerly Twitter), and one of the president-elect’s most prominent supporters and has long endorsed Dogecoin. Musk recently joined the Trump campaign and was integral to Trump’s victory, and his involvement with the republican party could see DOGE run to new highs in the coming months. DOGE’s surge stepped into overdrive after Donald Trump released a
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Author: Jana Serfontein