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Bitcoin surged past $81K, sending meme coins soaring amid buoyant crypto market sentiment in the aftermath of Donald Trump’s election win.
BTC jumped over 2% in the past 24 hours and 17% in the last week to trade at $81,123.49 as of 2:40 a.m. EST. BTC’s bullish momentum spilled over into the meme coin space, leading to a 19% jump in the lighthearted sector’s market capitalization, according to CoinGecko.
Bitcoin Surge Fires Up Small-Cap Tokens
Legacy meme coins such as Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE) and Dogwifhat (WIF) all printed strong 24-hour gains. DOGE emerged as the top performer among the big 4 meme coins with a 23% surge.
But it was smaller-cap altcoins that led the sector’s rally. Act I The AI Prophecy (ACT) stole the show after it went ballistic and surged more than 1,177%. Newcomer Peanut The Squirrel came in second after it posted a 250% surge.
Meanwhile, Sudeng (HIPPO), Kishu Inu (KISHU) and Dogelon Mars (ELON) recorded gains of 33%, 26%, and 28%, respectively.
Cathie Wood Says Trump ”Defanging” SEC Will Likely ”Turbocharge” US Economy
ARK Invest founder and CEO Cathie Wood said Trump ”defanging” the US Securities and Exchange Commission (SEC) after his election victory would likely ”turbocharge the US economy.”
She added in a video shared on X that government spending cuts, tax cuts, and a focus on technologically enabled innovation would also be key drivers of an economic resurgence under Trump.
We are floored with the support coming in for PEPU! 🔥
26 million hit with no signs of slowing down, this community is #1!! 🐸💚 pic.twitter.com/zyxceMDwxJ
— Pepe Unchained (@pepe_unchained) November 9, 2024
Meme coin presales are also being buoyed by optimism over Trump’s US election win. New PEPE rival Pepe Unchained (PEPU) has soared past $26.6 million in funds raised in one of the most successful presales ever. The token’s added more than $1.6 million in just the past four days.
Another beneficiary of the Trump effect is FreeDum Fighters (DUM), a satirical PolitiFi token that is racing toward $500k in funds raised in its presale.
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