Donald Trump has secured a landmark victory in the US presidential elections in what pundits are calling a political comeback for the ages.
Trump’s big win has sparked bull market euphoria, providing a major boost to equities, crypto and risk assets.
The Bitcoin price hit a new all-time high of $75,300 in early Asian trading hours while new meme coins like Goatseus Maximus (GOAT), First Neiro On Ethereum (NEIRO) and Peanut The Squirrel (PNUT) are leading the top crypto gainers list following Trump’s re-election.
Sidelined investors are frantically searching for the next low-cap meme that could explode, with Moo Deng, Pepe Unchained, STARS and Simon’s Cat emerging as the likely candidates.
Just How Bullish Is Donald Trump’s Big Win For Crypto?
The 2024 US Presidential Election could be crypto’s watershed moment. Polygon co-founder Sandeep Nailwal believes that Tuesday will go down in history as the day the industry started its journey towards the mainstream.
Today will be remembered in the history as the day when crypto truly begun its journey towards the mainstream
— Sandeep (※,※) (@sandeepnailwal) November 6, 2024
Following his inauguration on January 20th, Donald Trump will become the first pro-crypto president of the United States. A series of pro-crypto promises – including setting up a Strategic Bitcoin Reserve and firing SEC Chair Gary Gensler – made him the industry’s pick this election and is expected to have played a key role in his victory.
Aside from the presidency, pro-crypto candidates secured big wins in both houses of the US legislature. Bernie Moreno of Ohio defeated the anti-crypto Sherrod Brown in the OH Senate race.
Elizabeth Warren henchman Sherrod Brown has been defeated by @berniemoreno for Ohio Senate. This is what happens when you mess with the crypto army.
— Cameron Winklevoss (@cameron) November 6, 2024
A total of 219 pro-crypto candidates – including 205 in the House of Representatives and 14 in the Senate – have won their races.
With the Republicans now having a supermajority in Washington DC, experts believe that the coast is clear for the next crypto bull market. Analysts are projecting six-figure Bitcoin, new altcoin ETF applications and strong bull market euphoria in the coming months.
Crucial 48 Hours For Bitcoin Ahead
The Bitcoin price reached an all-time high of $75,300 following Trump’s big win. While the exact figure varies, most projections expect BTC to continue its bullish momentum despite the spike in profit-taking from whales.
For instance, the $725 billion firm Bernstein projects BTC to hit $90,000 before the end of the year.
However, the largest cryptocurrency has a crucial 48 hours ahead of it to invalidate the possibility of a sell-the-news event. For instance, prominent crypto trader StefanB signals that the possibility of a 64k retest cannot be ignored in the short term.
If market is that bullish and wants to invalidate the previous scenario of a Sell the News event, we should see a displacement in the upcoming 24h-48 hours.
Otherwise price will fail to hold and we will see that 64k retest happen.$BTC I wouldn't be bullish here.
Level by level pic.twitter.com/UeUJy4AbS5— StefanB (@Stefan_B_Trades) November 6, 2024
Similarly, Benjamin Cowen of Into The Cryptoverse expects the US Dollar to skyrocket after Trump’s win, which typically is a bearish scenario for crypto assets.
Despite any short-term uncertainty, experts remain extremely bullish on Bitcoin, with most projections expecting it to surge past the $100,000 mark in 2025.
New Meme Coins Explode Following Trump’s Win
Trump’s big win has resulted in bull market euphoria, which has given a major boost to new meme coins.
Goatseus Maximus (GOAT) continues to establish itself as one of the strongest-performing tokens in the sector. The GOAT price is up by 50% in the past 24 hours and appears poised for a new all-time high.
Similarly, the new Binance meme coin First Neiro On Ethereum (NEIRO), which has printed a 30% green candle today, is also set for a new peak. Peanut The Squirrel, Department of Government Efficiency and Dolan Duck are all seeing explosive growth.
Having missed out on these breakouts, sidelined investors are now searching for the low-cap meme coins that could be next to explode. Moo Deng and Simon’s Cat – two of Binance Future’s recent listings – fit the bill and look poised for a strong upside move.
Pepe Unchained (PEPU) – one of the hottest presales of 2024 – has also appealed to whales and retailers alike, hitting the $25 million mark following Trump’s win.
PEPU is a microcap meme coin, nearing its highly-anticipated launch amidst the ongoing bull market euphoria.
Additionally, its Layer-2 ecosystem will allow retail investors to buy the meme coin at extremely low trading costs while also earning attractive staking rewards. They can also benefit from the custom DEX, block explorer and advanced analytics tool.
Unsurprisingly, prominent crypto investors are bullish on PEPU’s upside potential, with some calling it the next 100x meme coin.
Similarly, Crypto All-Stars (STARS) is creating a strong buzz in its ongoing ICO, hitting the $3 million mark.
STARS is a utility-driven meme coin. Aside from its high upside potential, STARS holders can stake their meme coin holdings – including DOGE, SHIB and PEPE – into MemeVault, the first-ever multi-chain staking platform.
Similar to PEPU, STARS has appealed to prominent crypto influencers, with some eyeing nearly 70x returns from it.
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