Hold onto your hats, crypto fans, because the rollercoaster ride isn't over yet! Meme coins like DOGE, SHIB, PEPE, and BONK are taking a nosedive, while the big players BTC and XRP are still cruising with their post-election gains.
Since the 2024 US Presidential Election, it seems like many cryptocurrencies, especially our beloved meme coins, decided to take a trip down memory lane, reverting back to their November 2024 levels. What happened to the winter “meme coin season” surge? It's like it never even happened!
Dogecoin, the original meme coin sensation, rocketed from about 20 cents to nearly 50 cents after Donald Trump's victory in November 2024. But just like a dog chasing its tail, it's back to where it started, trading at 20 cents again after today's market shake-up.
Shiba Inu followed suit, diving from its December high of $0.000033 to a humble $0.0000133, which is even lower than before the election. Ouch! And it's not just them—PEPE and BONK have also been on a wild ride, each losing over 70% of their value in just a couple of months. Even FLOKI and WIF aren't immune, tumbling down faster than a house of cards.
Meanwhile, Bitcoin and XRP are standing tall amidst the chaos. Bitcoin soared from $65,400 pre-election to over $109,000 in January and is still holding strong at around $90,000. Talk about a comeback! XRP is also riding high, jumping from $0.706 to $3.33, and even with a slight dip, it's still up 245% since election time.
And here's a juicy tidbit: Brazil has given the green light to the world's first spot XRP ETF, set to launch on the B3 exchange. While the SEC in the US is still mulling over applications, Brazil is already ahead of the game, with Hashdex and Genial Investimentos paving the way.
So, as meme coins wobble and crash, Bitcoin and XRP are showing us how it's done. This tale of two crypto worlds shows us the power of established coins versus the unpredictability of their meme counterparts. Stay tuned for more twists and turns in this crazy crypto saga!
