Will Dogecoin, Shiba Inu, Pepe Continue The 'Memecoin Supercycle' Despite The Crypto Crash? 'Just The Tip Of The Iceberg,' Trader Thinks
Portfolio Pulse from Khyathi Dalal
Crypto trader CryptoKaleo believes the 'memecoin supercycle' is still in play despite the recent crypto market crash. He predicts that as the dollar weakens, money will flow into equities, Bitcoin, and major blockchains, with retail investors gravitating towards meme coins. The meme coin market capitalization is currently $37 billion, down 13% in the past 24 hours. Despite recent corrections, meme coins like Dogecoin, Shiba Inu, and Pepe have shown significant long-term gains.
August 05, 2024 | 7:48 pm
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CryptoKaleo predicts that as the dollar weakens, money will flow into Bitcoin and other major blockchains.
As the dollar weakens, investors may seek hedges like Bitcoin, potentially driving up its price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Despite a recent 27.1% drop in the past week, Dogecoin is expected to benefit from the 'memecoin supercycle' as retail investors seek more accessible crypto investments.
Retail investors may gravitate towards Dogecoin as a more accessible entry point into the crypto market, potentially driving up its price.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Pepe has experienced a 40.5% drop in the past week but has shown a 513.1% gain over the past year, indicating potential for future growth as part of the 'memecoin supercycle'.
Despite recent corrections, Pepe's significant long-term gains suggest potential for future growth as part of the 'memecoin supercycle'.
CONFIDENCE 65
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Shiba Inu has seen a 22.2% drop in the past week but is expected to gain traction among retail investors as part of the 'memecoin supercycle'.
Shiba Inu may attract retail investors looking for more accessible crypto investments, potentially driving up its price.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 85