Dog-themed meme coins surge as Dogecoin hits three-year high following U.S. elections and Fed rate cut

Dog-themed meme coins are experiencing a surge, led by Dogecoin, which reached a three-year high of $0.29. This increase follows a 27% rise in just 24 hours, driven by positive market sentiment after the recent U.S. elections and a Federal Reserve rate cut. Investor confidence has grown with the election of President-elect Donald Trump, who has promised to support Bitcoin mining and ease crypto regulations. This optimism has also sparked interest in other meme coins like Shiba Inu and Floki Inu, which have seen significant gains. Shiba Inu rose 26%, while Floki Inu increased by 20%. Other coins like Dogelon Mars and Baby Doge Coin also saw gains, though they remain significantly below their all-time highs. The trend reflects a broader interest in meme-driven narratives within the crypto market.