Dogecoin and XRP Outperform Bitcoin as Election Day Investors Seek the Next Big Crypto Opportunity

Most cryptos, BTC and altcoins have all surged as Bitcoin nears to reclaim the $100,000 mark once again.

Bitcoin’s rally is showing no signs of slowing down. Most cryptos, both BTC and altcoins, have surged as Bitcoin nears to reclaim the $100,000 mark once again.

A better regulatory environment under the new crypto friendly President Donald Trump is keeping investors optimistic. A lower interest rate climate has also fueled gains in the crypto market.

Bitcoin’s gains are also uplifting other cryptocurrencies. Dogecoin and XRP have both outperformed Bitcoin since Election Day. Both tokens have gathered strong momentum as investors seek the next big opportunity.

Meme Coin Dogecoin (DOGE)

Dogecoin was created in 2013 as a joke by Billy Markus and Jackson Palmer. The meme coin was created in response to the hype surrounding cryptocurrencies at the time. Markus and Palmer hoped to create a fun and lighthearted coin that would appeal to a wider audience.

Dogecoin features the image of a Shiba Inu dog on its logo and is known for its playful and enthusiastic community. Despite being a top crypto meme coin, DOGE has no fixed supply, a factor that raises concerns about inflation.

However, Dogecoin’s strong community and viral appeal have helped it reach a market cap of $59 billion, making it one of the most valuable cryptocurrencies. Dogecoin’s price is highly influenced by social media and online trends.

Celebrity endorsements, especially from Tesla CEO Elon Musk, have boosted DOGE’s visibility by a very huge margin. Musk’s tweets and mentions of Dogecoin on social media often trigger price movements for the meme coin.

Dogecoin is also popular among traders on platforms like Reddit and Discord, where communities and discussion groups are formed around different cryptocurrencies.

Meme Coin XRP (XRP)

XRP was designed for cross-border payments. The token can process transactions in seconds and is energy-efficient. Ripple, the company behind XRP, pre-mined 100 billion tokens.

Unlike Dogecoin, XRP has a fixed supply, which may help control inflation. XRP could also see increased adoption if a spot exchange-traded fund (ETF) is approved.

Companies have already started the ETF process. The token recently became available on Robinhood, increasing accessibility.

XRP has faced legal challenges from the SEC. The agency sued Ripple and its executives for selling XRP as an unregistered security. A federal judge ruled in Ripple’s favor, but the SEC appealed parts of the decision.

With SEC Chair Gary Gensler leaving the seat and a crypto-friendly chair taking the position, the lawsuit could conclude soon. A favorable outcome could remove barriers to XRP’s growth.

Both Dogecoin and XRP have strong potential in a bull market, but their future performance will depend on various factors such as market trends, recent market developments, investor interest and regulatory decisions.