Dogecoin Price Prediction: How The Presidential Election Affected This Meme Coin

Let’s see if Dogecoin will reign supreme in 2025 and if other coins are showing similar potential.

Dogecoin started rapidly ascending in mid-October and soared even higher on election day when it became clear the red party may very well snag the election. Most investors predicted that Donald Trump getting crowned the new-old president would cause DOGE to take off. Judging by the trading volume that exceeded two billion on November 6, they predicted good.

At the moment, Dogecoin is hovering between $0.1800 and $0.2000, up from around $0.1600 in just a single day. If this momentum continues, it could set a new yearly high ($0.2200).

Considering Dogecoin is the favorite of Elon Musk, and is an accepted form of payment in his companies, there are already jokes about Donald Trump putting Dogecoin in the national treasury. All of this is fueling the bullish sentiment, which may very well continue throughout November.

Ali Martinez anticipates DOGE will continue to skyrocket on the power of Musk’s influence alone. The sentiment is shared by Peter Brandt, who predicts Dogecoin will soon hit a new all-time high.

While it’s impossible to confirm if wild predictions such as $10 some are throwing out will come true, judging by all metrics, DOGE is poised to at least reach the yearly high. And if the bullish sentiment continues, a new all-time high is certainly possible.

Meme coins are roaring right now and we could potentially be witnessing a bull run super cycle. Dogecoin is not the only meme coin performing well at the moment. Shiba Inu and PEPE are also rising in value. For example, Shiba Inu’s 24-hour trading volume increased 149.12%, with PEPE also making good numbers with a trading volume increase of 106.03%.

While it’s always smart to have classics like these two in your crypto portfolio, there are plenty of up-and-coming meme coins that may have massive potential in this bull run. Generally, the value of regular meme coins is severely limited by their huge circulating supply and massive market caps. SHIB has a market cap of $10.87B, which sadly doesn’t offer much in terms of upswing potential.

However, there are new projects with much more favorable metrics.

One such is Shiba Galaxy (SHIBG), which has a market cap of just $30 million. With a pre-sale price of $0.105, it’s brimming with meme coin goodness. Still, Shiba Galaxy is more than just a meme coin. In fact, the team behind SHIBG is serious about bringing a new level of utility into the meme coin sector.

For starters, it’s an L2 blockchain meme coin with instant bridging between Shiba Galaxy Chain and Ethereum. This means investors will enjoy a smooth experience with fast processing speeds and lightning-fast transaction speeds.

Shiba Galaxy is also a full-fledged ecosystem that comes with a block explorer and builder, making it a perfect match for developers who want to create new meme coins. An addition of staking is also a welcome sight, allowing Shiba Galaxy to effortlessly bridge the gap between meme value and true crypto utility.

Exciting times are ahead for all things crypto. As we slowly approach a potential meme coin bull cycle, diversifying and taking note of new projects with major potential could be wise. While there’s nothing wrong with coins that are pure meme, there’s merit in looking at new ones that are experimenting with utility in the meme coin sector.

It’s also smart to be cautious. There’s always a possibility that the market may overextend and suffer a corrective pullback as a result.

Either way, happy bull run and trade safely!

This is a sponsored article. Opinions expressed are solely those of the sponsor and readers should conduct their own due diligence before taking any action based on information presented in this article.