Deutscher further predicts that a Trump victory would spark a rally in altcoins, especially memecoins, which have historically shown strength leading up to elections. Another clear example of this is that the largest tokens in the Solana memecoin ecosystem, Dogwifhat (WIF), Bonk Inu (BONK) and Popcat (POPCAT), saw surges of 6.3%, 8% and 6% respectively, on election day, all of which outperformed the top ten cryptocurrencies in the market. Deutscher also said that with many cryptocurrencies undergoing significant drawdowns as investors de-risked ahead of the election, they would likely experience a pronounced bounce if Trump secures the presidency. Conversely, if Kamala Harris wins, the analyst foresees a different dynamic.
Ultimately, this shift could increase meme coins dominance, especially if traditional sectors like decentralized finance (DeFi) face heightened scrutiny. In this case, Deutscher asserts that investors might shy away from the broader altcoin market, favoring assets that have already demonstrated resilience and strength throughout the year. Based on price action trends, the analyst points out that some memecoins may be perceived as less risky than other altcoins, a sentiment that appears to be gaining traction among retail investors.
As the US presidential election results loom, one analyst is expressing confidence in the continuous surge of memecoins, particularly in the context of the ongoing political landscape. In a recent social media post on X (formerly Twitter), Miles Deutscher asserted that dog-themed and cat-themed cryptocurrencies will continue outperforming the broader crypto market, regardless of whether Donald Trump or Kamala Harris emerges victorious.
The story "Experts Forecast Memecoins To Excel No Matter The US Election Results, Here’s Why" has 484 words across 67 sentences, which will take approximately 3 - 5 minutes for the average person to read.
Which news outlet covered this story?
The story "Experts Forecast Memecoins To Excel No Matter The US Election Results, Here’s Why" was covered 2 weeks ago by NewsBTC, a news publisher based in United Kingdom.
How trustworthy is 'NewsBTC' news outlet?
NewsBTC is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.
The outlet is headquartered in United Kingdom and publishes an average of 11 news stories per day.
It's most recent story was published 9 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Positive, indicating that people regard this as "good news".
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
