Memecoins surged Wednesday as former President Donald Trump clinched a second term in office. Dogecoin surged more than 15% and Shiba Inu gained 6%, according to Coin Metrics. The moves came as bitcoin rose to a fresh record above $76,000. The president-elect is seen as the more favorable candidate for the broader crypto market beyond bitcoin as he has promised a more cypto-friendly Securities and Exchange Commission if elected for another term. In the lead-up to Election Day, memecoins and AI-related crypto tokens outperformed the overall crypto market. The sector of the crypto market is used as a measure of retail investors’ risk appetite. Will memecoins continue to rise after Trump Re-election ?

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Investing in Nvidia is the dominant supplier of GPUs, which are used to develop and deploy advanced AI software such as OpenAI’s ChatGPT. Its stock is now up more than 2,700% in the past five years, and revenue has more than doubled in each of the past five quarters, tripling in three of them.

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