Election Meme Coins Pump and Altcoin JetBolt Soars

Election meme coins like MAGA and PNUT show contrasting narratives, with the former's price action seeing price drops while the latter showing notable gains

The crypto market experienced a surge following Donald Trump’s victory in the US elections. This had a varying impact on several meme coins and altcoins, with some seeing price drops and others experiencing a surge in interest.

MAGA Coin (TRUMP) saw a price decline despite being a meme coin that rode on Trump’s wave of popularity. Many holders used it as both a collectible and a way to express their political loyalty. Some crypto analysts suggested that the former president was favored by crypto investors because he promised to replace the sitting US Securities and Exchange Commission (SEC) Chair Gary Gensler.

In the hours leading up to Trump’s victory, MAGA Coin’s price grew. However, the token’s price dropped by 21.7% after the announcement. At press time, meme coin MAGA trades at $2.75.

Meanwhile, Peanut the Squirrel (PNUT) saw a different fate. The Solana-based meme coin exploded in popularity, hitting the market with a market capitalization of over $120 million in just three days.

The coin was inspired by Peanut the Squirrel, who gained a massive following on social media thanks to his owner, Mark Longo. Longo posted adorable videos of Peanut wearing tiny hats and performing tricks.

However, Peanut was taken by the New York State Department of Environmental Protection for rabies testing and was euthanized. This news sparked an outpouring of rage and support from online fans days before the election. Shortly after, the PNUT meme coin was created in Peanut’s memory.

The story gained even more attention after tech billionaire Elon Musk mentioned PNUT in his pinned tweet on social media platform X on Sunday. At its peak, PNUT’s price hit $0.14 before early buyers started cashing out.

Since then, things have cooled a bit, and the coin’s market cap has dropped to around $107 million. As of late, PNUT trades at $0.106.

On the other hand, the original meme coin, Dogecoin (DOGE), maintained its presence among its loyal fans in the Web3 space despite all the recent election hype. Over the past few days, the first-ever meme coin in the crypto space managed to cross the $0.20 level and experienced an 18.8% price gain in the last 24 hours.

While Dogecoin's recent price movement and technical indicators look promising, experts suggest that activity from whales and retail traders is necessary to drive DOGE's price higher. But given its market cap and price action, expecting a major further rise might seem a long shot to many.

In other news, beyond meme coins, whales continued to explore next generation altcoins. Newer tokens such as JetBolt experienced growing popularity, propelled by the increasing demand for cutting-edge blockchain solutions.

What makes JetBolt interesting is its fun and exciting lightning cat mascot. However, what really sets it apart is its inclusion of Zero Gas tech. This allows users to make transactions without paying for expensive gas fees.

Moreover, early buyers have a chance to get up to 25% additional tokens through special Alpha Boxes when they purchase JBOLT tokens in batches. So far, over 42 million JetBolt tokens have been bought, and the presale shows no signs of slowing down.

In addition to stellar presale numbers, JetBolt attracts a huge number of crypto enthusiasts and whales because of its groundbreaking features. One of these is the zero-gas technology, allowing users to make transactions without paying for gas fees. Coupled with this, the JetBolt platform includes an already accessible AI utility feature, integrated wallet, and ready staking.

For those keen on earning crypto rewards passively, JetBolt offers a fun and beginner-friendly crypto-staking experience. Moreover, stakers can potentially earn extra tokens simply by connecting with their friends on the platform.

With its tech-savvy edge and growing presale momentum, JetBolt shines as one of the best new altcoins to watch after the US elections.

This article does not provide financial or crypto advice. Always conduct your own research and exercise caution when engaging with cryptocurrencies. All cryptocurrencies are risky and subject to high volatility.