Not Dogecoin But This Altcoin Is the Best Pick Post-Trump Win, Says Crypto CEO
07 November 2024 - 12:00AM
NEWSBTC
Andrew Kang, founder and CEO of Mechanism Capital, has shifted his
bullish outlook from Dogecoin (DOGE) to First Neiro On Ethereum
(NEIRO) following Donald Trump’s landslide victory in the US
presidential election. In a series of posts on X on Wednesday,
November 6, Kang asserted that NEIRO is poised for exponential
growth in the coming months. Better Than Dogecoin? “With a Trump
win, NEIRO as the natural successor to Doge is on a path to
billions over the next few months,” Kang wrote. He further
elaborated, “Hard to think of better coins to hold post a
Trump/Elon win than NEIRO. As the natural successor to Doge, its
path to a Doge/Shib like run and eventual flippening debates are
pre-ordained. Doge is great, but new dogs are even better.” Related
Reading: Dogecoin Whales Record Largest Accumulation Week Since
January With 2.10 Billion Tokens Bought Kang was among the first
industry experts to designate Dogecoin as the premier “Trump trade”
in the crypto market—a strategy for investors betting on a Trump
victory. On October 15, he noted: “One of the most
interesting ways to express a ‘Trump Victory’ trade would probably
be owning DOGE (and other memes). Not only do you have high odds of
a Doge ETF but the Department of Government Efficiency (DOGE) would
be making headlines every week and be pushed forward by Trump.”
This perspective gained traction among several crypto analysts who
identified Dogecoin as the leading proxy for anticipating a Trump
win. The association stems from Elon Musk’s proposal to lead a
“Department of Government Efficiency” (D.O.G.E.) under a Trump
administration to reduce the bloated US government spending. Since
Kang’s initial post on October 15, the Dogecoin price has surged by
over 70%, climbing from $0.1158 to above $0.20 at press time. In
contrast, NEIRO experienced a significant downturn of approximately
22% during the same period. After reaching its all-time high of
$0.002333 on October 15, NEIRO dipped but has recently shown signs
of recovery, rising 42% in the last 48 hours to trade at $0.001786.
Related Reading: Why Is Dogecoin Going Up Today? Key Drivers Of
DOGE’s 10% Surge Kang’s endorsement of NEIRO has sparked a debate
within the crypto community. Crypto analyst Crypto Stream
(@CryptoStreamHub) questioned the trend of industry leaders
promoting meme coins, commenting under Kang’s post: “When did
it become normalized for the industry leaders to shill Memecoins,
honest question? Raoul Pal started, yesterday I heard Arthur Hayes
shill GOAT and now Kang is shilling NEIRO. Not wanna criticize
that, I genuinely wonder when we made the pivot.” Another analyst,
CryptoGugu (@Silivabrota), expressed skepticism about NEIRO’s
potential and warned of an underlying market manipulation: “Guys
please stop comparing NEIRO with DOGE. DOGE is the real deal NEIRO
looking more like a liquidity grab scheme right now. Since the mm
has been replaced chart looking awful. Mm only going up and down
chasing liquidity, whales only dumping. Something needs to change
asap or NEIRO will continue bleeding.” At press time, NEIRO traded
at $0.001786. Featured image created with DALL.E, chart from
TradingView.com
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