Donald Trump won the 2024 presidential election, and the crypto market is reacting. The anticipated Fed rate cut didn’t bring as much excitement as some had hoped. However, Dogecoin prices soared as the crypto community has some optimistic expectations for the future. Analysts predict that Dogecoin could be headed for a new all-time high soon, potentially outperforming Bitcoin.
Elon Musk is expected to support Dogecoin after Trump’s inauguration, and there are hopes that charges against Silk Road creator Ross Ulbricht will be dropped in January. Other potential high-growth coins include Solana, Bitcoin, Avalanche, and Sui. Meanwhile, the FOMC’s decision didn’t cause the market frenzy many were anticipating, but the election results and speculation around potential cabinet appointments could still have a significant impact on the crypto market.
