Dogecoin surged over 22% and Shiba Inu gained 8% as traders anticipated a strong performance from former President Donald Trump in the U.S. election, which is seen as favorable for the crypto market. With low volatility leading up to the election, the renewed interest in memecoins reflects retail investors' risk appetite, although experts caution against overemphasizing their long-term viability. Trump's potential victory could lead to a more crypto-friendly regulatory environment, further boosting market sentiment, especially with speculation around Elon Musk's possible appointment in a Trump administration.
