Dogecoin is pricing in a Donald Trump victory just hours before the U.S. presidential election results are announced.
After trading as low as $0.143 on Sunday, the DOGE price has surged to $0.17 on Tuesday, a nearly 20% growth in 2 days.
Experts project that a Donald Trump win could trigger a parabolic Dogecoin rally and in turn, the meme coin supercycle. Low-cap meme tokens like Mog Coin, Coq Inu and Pepe Unchained also appear poised for a bullish breakout, with experts calling them the best meme coins to buy now.
Is Dogecoin Price Rally Hinting At A Donald Trump Victory?
Bitcoin may not be the ideal bet on Donald Trump. After all, analysts – including the $725 billion asset management firm Bernstein – project that BTC will hit six figures in 2025, irrespective of who wins the election.
On the contrary, Dogecoin will very likely deliver outsized returns in the event of a Trump victory.
The world’s richest man and biggest Dogecoin supporter Elon Musk has been one of the most vocal supporters of Donald Trump’s re-election campaign. Musk has also agreed to lead a government efficiency commission in the Trump administration, which he has been referring to as the Department of Government Efficiency or D.O.G.E.
The Dogecoin price typically rallies on any positive Elon-related news. For instance, the DOGE market cap doubled after Musk completed his acquisition of X, formerly known as Twitter.
If the Department of Government Efficiency becomes a reality in the aftermath of a Trump win, the Dogecoin price could see outsized growth.
The bulls have also been speculating on the possibility of a spot Dogecoin ETF, considering the former president has promised to fire SEC Chair Gary Gensler and replace him with a pro-crypto head of the agency.
With the Dogecoin price rallying hours before the US presidential elections are announced, whales and smart money investors appear to be confident in a Trump victory.
Is DOGE The Best Meme Coin To Buy Now?
Considering that smart money investors are viewing Dogecoin as a proxy for Trump, experts are advising sidelined investors and swing traders to long DOGE only after the former President officially wins the White House.
While election bettors on Polymarket and Kalshi like Trump’s odds, most pollsters continue to call the race a toss-up, with even a slight advantage for Vice President Kamala Harris.
In the scenario of a Trump win, the bulls need to simply secure a sustained close above $0.20 resistance to kickstart a parabolic rally to a new all-time high. On the contrary, they will have to hold above the $0.14 support in the event of a Harris win.
Experts also believe that a Dogecoin rally could start the meme coin supercycle. If DOGE skyrockets to $1, most of the newer Solana and Ethereum meme coins could also deliver outsized returns.
Pepe Unchained, Mog Coin and Other New Meme Coins Also In High Demand
New meme coins are in high demand, with investors anticipating a meme coin supercycle in the near future.
For instance, Mog Coin is up by over 120% on Tuesday, as is Coq Inu. Meanwhile, Solana meme coin Michi is up by 15% in the past 24 hours.
Pepe Unchained (PEPU) – one of the hottest presales of 2024 – continues to see strong whale and retail investments. It is now on the cusp of hitting the $25 million milestone, a rare feat for a meme coin that hasn’t even launched yet.
Pepe Unchained is a low-cap, utility-driven meme coin. Its Layer-2 ecosystem – which will offer extremely low trading costs and instant transactions – is also set to go live after the presale, adding to the hype surrounding the project.
The meme coin also has a staking protocol for early presale buyers. Despite having raised nearly $25 million in its ICO, the staking pool is still offering a reward rate of 96% APY.
With the meme coin supercycle appearing imminent, low-cap meme coins like PEPU could see outsized growth. Prominent crypto investors are eyeing somewhere between 10x to 100x returns from Pepe Unchained, depending upon the broader market outlook.
A few influencers are also calling it one of the best meme coins to buy now.
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