Dog-themed meme coins are running in a pack, following the lead of Dogecoin’s (DOGE) incredible rally to three-year highs, bolstered by trading fervor on several favorable tailwinds for crypto.
Alpha meme coin Doge rose to a top of $0.29 on Sunday following a break earlier in the day that saw the crypto spike to its highest point since October 30, 2021. The asset is up 27% over the last 24 hours, trading at $0.26, CoinGecko data shows.
Several market tailwinds
The recent election of President-elect Donald Trump, along with a likely “Red Sweep” for Republicans in Congress, has boosted investor confidence. Anticipated reductions in corporate taxes and deregulation are creating a more favorable climate for risk assets, particularly in sectors that are highly sensitive to regulatory shifts.
Trump has promised to protect Bitcoin mining interests, take a lighter approach to crypto regulation, all while vowing to push policy favorable to the industry.
At the same time, the U.S. Federal Res
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Author: Sebastian Sinclair
