#BTCBreaksATH Dogecoin witnessed the strongest increase of over 300%. As a meme coin – a digital currency inspired by a popular trend on social media – in its early days, dogecoin was enthusiastically promoted by billionaire Elon Musk, who even hinted at accepting dogecoin as a payment method for Tesla electric vehicles. Similar to a series of other cryptocurrencies, this coin saw a sharp rise in value after Donald Trump was elected president. Investors and speculators believe that the U.S. government under Trump's leadership will be more friendly towards cryptocurrencies because his campaign received donations in cryptocurrency.