cryptocoin.com As we have reported, PEPE, which has been on the rise in recent days, made many investors happy. With this new memecoin, with the start of fast trades in the market, traders are also researching new altcoin projects! So, what do the experts say about the subject? Here are the details…
Cryptocurrency traders are looking for the next PEPE! So which altcoin will go in this direction?
As you know, many new meme coin projects have been added to the crypto money market in a short time. While some of them appeared as PEPE, Chad Coin (CHAD), Shib Original Vision (SOV), they delighted their investors with huge price increases. According to experts, although these gains are short-term, investors who quickly evaluated the opportunities made big profits. Meme coins, on the other hand, have become increasingly relevant with the popularity of projects influenced by an internet meme, PEPE, CHAD, and SOV. The shift of capital from Bitcoin and altcoins to meme coins catalyzes price rallies in such projects.
Despite the huge gains, meme coins are a highly controversial coin category because of the risk they entail. Cole, a crypto expert and market maker at Eigen Protocol, describes meme coins as “micro-bubbles.” The micro bubble is described as a group of coins that carries extraordinary risk compared to other projects in the overall market. The words of the expert are as follows:
According to the expert name, the memecoin craze, micro-bubbles, ends either with the broader market crashing to zero or with heaps of participants initiating a larger bubble. Therefore, investors should follow closely.
Although PEPE, CHAD, SOV and other meme coins have brought huge gains for their holders, the market cap is relatively small compared to Dogecoin, Shiba Inu and others, which is reflected in the relatively small liquidity for investors of these coins.
On the other hand, according to crypto money experts, meme coin investors make more risky investments than investors of other altcoin projects.
Experts’ thoughts on meme coin projects drew attention
According to experts, it is extremely important to remember that large rallies in Mem coins often mark the beginning or end of a crypto market trend. Before a bull run in crypto, there is usually a long period of consolidation. The end of a meme coin rally is usually followed by consolidation before the next uptrend in the crypto market.
However, experts warn investors to be careful when trading meme coins. One example is Binance CEO Changpeng Zhao, who warned investors on crypto Twitter not to pour capital into meme coin projects without due diligence.
Cryptocurrency expert and popular analyst Altcoin Sherpa, on the other hand, shares CZ’s views, arguing that meme coin price rallies are unsustainable despite the possibility of 500x gains in a short period of time.
According to the tweet quoted by the expert, meme coin projects generally gain price with 0 effort, so they are dangerous, but they have the potential to do 500x in a day compared to the rise of a Bitcoin.
New meme coins take the spotlight away from DOGE and SHIB
On the other hand, the emergence of meme coins, which, according to experts, earn up to 5x in a short time, has shifted the focus of investors away from projects with large market capitalizations such as Dogecoin and Shiba Inu. The two largest Shiba-Inu-themed cryptocurrencies in the ecosystem wiped out their gains last week and are currently struggling to recover from double-digit losses.
Major wallet investors on the Ethereum network have rounded up the Dogecoin killer Shiba Inu, signaling a bullish trend among investors. Akash Girimath, crypto analyst at FXStreet, believes SHIB is poised for a 20 percent gain. The expert argues that SHIB price is holding tightly to consolidation in a range stretching between $0.0000101 and $0.0000117. If the buying pressure continues and increases, the meme states that the coin will make a profit.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram And YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.