Will The Market See A Repeat Of The Dogecoin And Meme Coin Supercycle Of 2021?
Release: 2024/07/18 12:00 Reading: 504
Crypto analyst Altcoin Sherpa believes that the crypto market may not witness a repeat of the meme coin supercycle that occurred in 2021, but there are still opportunities for meme traders.
Will There Be a Repeat of 2021 Meme Coin Supercycle?
Altcoin Sherpa states that while there may be a meme supercycle, it will likely not take the same form as the previous one. He believes the market is more dispersed and that there are too many meme coins for any one to experience a massive price surge like Shiba Inu did in 2021.
What the Meme Coin Supercycle May Look Like Now
Instead of massive gains for individual meme coins, Altcoin Sherpa predicts that we might see more moderate price increases for a wider range of meme coins. He suggests that 15 mid-cap meme coins could experience 10x price gains, while 3 could see 50x rallies.
Tips for Meme Coin Investors
Altcoin Sherpa encourages investors to consider the different risk profiles of meme coins:
- Dogecoin and Shiba Inu: Suitable for large, high-liquidity investors who understand the limited upside potential.
- PEPE, Dogwifhat, and BONK: Suitable for investors with strong liquidity who are willing to take on more risk for potential higher returns.
- Mid-Cap Meme Coins: Provide a balance between risk and potential rewards, with some having the potential to reach a multi-billion-dollar market cap.
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