Lately, the focus of the crypto markets has been around the rapidly rising meme coins that are attracting the attention of investors. Altcoin Sherpa, one of the leading figures in this trend, offered an important perspective on the rise of these assets in the current market cycle.
Altcoin Sherpa is a meteoric rise for meme coins predicts. According to Altcoin Sherpa, this upward trend is supported by several key reasons. First of all, new individual investors are rapidly entering the crypto market and are motivated by the desire to make big profits in a short time. This increases the popularity of fast and high-volatility cryptocurrencies such as meme coins. Investors are participating in this trend in the hope of making profits in the short term by taking advantage of sudden rises in such assets.
“Meme coins are very bullish this cycle for many reasons. The new investor wants to get rich quickly, they will enter the casino with us. Adapt or continue to wait for a decline.”
According to the analyst, prominent meme coins with large market caps include Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), Bonk (BONK), and dogwifhat (WIF). These assets are supported by a large community and are showing remarkable price increases. On the other hand, mid-cap meme coins can also be attractive to investors. The analyst’s midcap picks include Brett (BRETT), Joe Boden (BODEN), Popcat (POPCAT), Coq Inu (COQ) and Myro (MYRO). Although these assets have not yet gained major community support, they can present attractive opportunities when evaluated for potential.
The analyst also says that BONK will continue to outperform WIF, another meme coin based on Solana (SOL).
“Bonk and WIF take turns leading the Solana-based meme coins. All eyes seem to be mostly on BONK right now, and I expect a leader/laggard relationship similar to DOGE/SHIB. For now, I expect WIF to do well as long as BONK is strong, but it’s probably better to be long on leader BONK…
NEWS CONTINUES BELOWBONK looks strong and as long as BTC stays afloat, I expect WIF to do well as well. “Given the previous price action, it probably shouldn’t be purchased here.”
At the time of writing, BONK is trading at $0.00002689, up nearly 8% in the last 24 hours. WIF, meanwhile, is trading at $2.99 at the time of writing.
You can access current market movements here.
