Combined with Elon Musk’s continuous drumming and endorsement for them, meme coins are set to undergo a gigantic revival. And Dogecoin and Shiba Inu are already milking the situation for serious gains.

Dogecoin price hits 3-year high after Donald Trump’s victory

Donald Trump didn’t start out as a crypto lover, but his stance has changed over the last couple of years. Since his manifesto promised a favorable climate for blockchain companies, crypto prices surged after his election victory, and Dogecoin wasn’t excluded.

Days after the election, Dogecoin price hit a 3-year high, rising as high as $0.33, which is half its ATH price. Dogecoin also has strong backing from Elon Musk, who often teases it as a payment option for Tesla. This publicity boosts the general perception of DOGE, creating a strong support for the token as well as a loyal community of fans.

It is safe to assume that Dogecoin price will continue to accelerate for the foreseeable future. In fact, crypto veterans predict DOGE will ride the new crypto wave and believe it could even hit a new all-time high.

Shiba Inu burn rate exceeds 1000%

Shiba Inu has a burn mechanism that is designed to regulate SHIB’s vast supply and keep its price volatility to a minimum. Over the last weekend, Shiba Inu’s burn rate witnessed a 1028% surge, as 463 million DOGE tokens were destroyed and taken out of circulation.

This means there are way fewer SHIB tokens in circulation now, and the perceived scarcity has sent SHIB on the path to a massive rally. As a result, SHIB is up by more than 50% over the monthly scene. Many crypto enthusiasts can only see SHIB appreciating more in the coming weeks as the meme coin hype hits a frenzy level.

The effectiveness of Shiba Inu’s burning mechanism as a price-boosting strategy, nonetheless, SHIB is surrounded by an enthusiastic community. This support is expected to keep SHIB on an upward trend in spite of rampant volatility and unexpected price corrections.

The reawakening of the meme army

For large parts of the year, meme coins like Dogecoin and Shiba Inu suffered through multiple corrections as the hype around them died a natural death. But Trump’s victory seems to have breathed life into this ailing body.

As a result, investors believe that Dogecoin and Shiba Inu would go on a serious monster rally that would fetch investors unbelievable profits. At the same time, they’re also pointing to Lunex Network, a hybrid web3 exchange token as another coin earmarked for noteworthy gains.

Lunex Network ports a special technology that allows traders to swap over 50,000 crypto trading pairs across 40 different blockchain networks. It is still in presale, available for just $0.0021 per token. This low entry price is not only affordable, it is extremely attractive as it has a gigantic room for future growth.

You can find more information about Lunex Network (LNEX) here:

Website: https://lunexnetwork.com Socials:https://linktr.ee/lunexnetwork

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