Dogecoin (DOGE) and Solana (SOL) Displace These Two Altcoins as Trump Takes the Lead in the Presidential Race!

Cryptocurrency Market Surges Amidst Election Outcome

The cryptocurrency market witnessed an upward trajectory today, sparked by Trump's lead in the election race.

Bitcoin Reaches Record Highs

Bitcoin (BTC) broke new price records, while Ethereum (ETH), Solana (SOL), and XRP experienced substantial gains, ranging from 6% to 16%.

Dogecoin's Impressive Surge

Dogecoin (DOGE) emerged as a top performer amid expectations of a Trump victory. It surged by an impressive 25%, surpassing the $0.2 price threshold.

On Election Day, DOGE soared to $0.2, marking a seven-month high. Its market capitalization briefly surpassed that of Ripple (XRP), making it the 7th largest cryptocurrency.

Ripple has since regained its 7th position, with XRP and DOGE currently valued at $30.3 billion and $30.2 billion, respectively. However, DOGE remains within striking distance of XRP.

Solana Overtakes BNB

Solana (SOL) has also experienced a remarkable increase, eclipsing Binance Coin (BNB) in terms of market valuation.

SOL has ascended to the fourth spot, boasting a market cap of $87.79 billion, leaving BNB behind in fifth place with $83.92 billion. SOL currently trades at $186.5, a 16.3% gain over the past 24 hours.

Bullish Outlook

eToro analyst Josh Gilbert predicts that the market rally is just beginning. "Even though Bitcoin is at record highs, it appears that this rally is just beginning," he stated. "This could be a good sign for altcoins like DOGE, which usually rise along with Bitcoin's major moves, and a continuation of the rise."

Elon Musk's support for Trump may have further contributed to DOGE's recent momentum.

Please note: This article does not constitute investment advice.