As the US presidential election approaches, experts anticipate the continued rise of memecoins, regardless of the outcome. Analyst Miles Deutscher is confident that dog-themed and cat-themed cryptocurrencies will outshine the broader crypto market, whether Donald Trump or Kamala Harris wins.
Dogecoin, the leading memecoin, has already seen a significant price surge, outperforming major cryptocurrencies like Bitcoin. Deutscher believes a Trump victory could further boost Dogecoin due to his proposed Department Of Government Efficiency (DOGE) initiative, prompting increased visibility and liquidity for memecoins.
Should Harris win, Deutscher predicts investors may gravitate towards memecoins amidst potential regulatory scrutiny on utility tokens. This could lead to a preference for speculative assets, as fear of a crackdown might deter investment in traditional altcoins.
Memecoins in the Solana ecosystem, such as Dogwifhat, Bonk Inu, and Popcat, have experienced significant gains, showcasing the strength of the meme coin sector. The analyst highlights that some memecoins are seen as less risky, attracting retail investors amid election uncertainties.
