As the US presidential election nears its end, altcoins are attracting more attention from traders, who believe the market may be significantly affected by the election results, according to a Bloomberg News report. While Bitcoin (BTC) remains stable at around $70,000 – roughly 5% below its all-time high – Dogecoin (DOGE) and Solana (SOL) are experiencing increased volatility due to speculation about potential shifts in US crypto policy.
An 18% surge in Dogecoin’s price followed Elon Musk’s hint about a hypothetical “Department of Government Efficiency” (D.O.G.E.) if former President Donald Trump wins. The token has doubled in value since the start of the year. Some experts predict that a Vice President Kamala Harris win may create a more difficult environment for altcoins due to increased regulatory scrutiny, while others expect a market lift if Trump wins.
