Memecoins are gaining in popularity amid the ongoing bull run sparked by Donald Trump’s recent victory in the US presidential election. Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) surged as Bitcoin (BTC) set new ATHs following the pro-crypto candidate’s win. 

The top memecoins have gained immensely in recent weeks, triggered by Donald Trump’s victory over Kamala Harris. The market surge is led by none other than BTC, which broke all of its previous records. Dogecoin (DOGE), particularly, gained rapidly as Trump announced the launch of the Department of Government Efficiency, or DOGE, under his administration. 

Let’s delve into the performance of these top memecoins and explore Husky Inu (HINU), the newest memecoin sensation from the Solana network. 

Dogecoin (DOGE)

Dogecoin (DOGE), the top memecoin by market cap, exploded in recent weeks to become the 7th largest crypto with a market cap exceeding $57.3 billion.

Dogecoin (DOGE) is undoubtedly following BTC’s trajectory, surging over 180% in the past month and trading at $0.3901.DOGE quickly rose through the ranks to become a household name in the crypto industry, owing its success to a strong community and endless potential. DOGE began its journey in the industry as a joke but has transitioned into a legitimate investment opportunity with excellent profit potential. The memecoin skyrocketed with the involvement and endorsement of Elon Musk.

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. The tech wizard 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 statement revealing that Elon Musk and Vivek Ramaswamy will lead the Department of Government Efficiency, or DOGE. According to Trump, DOGE will pave the way for his administration to “dismantle Government Bureaucracy, slash excess regulations, cut wasteful expenditure, and restructure Federal Agencies – Essential to the “Save America” Movement.”

Shiba Inu (SHIB)

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Author: Jana Serfontein

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