Altcoin
Why will meme coins perform better?
As cryptocurrency markets evolve, meme coins are poised to lead the next altcoin season. With Bitcoin in a phase of consolidation, analysts are shifting their attention to these speculative but popular assets.
Originally created as pranks or parodies, meme coins have evolved beyond their novelty nature to become major profit generators.
Analysts Share Their Top Meme Coins
In the first half of 2024, Meme coins are among the most profitable in the cryptocurrency marketThis trend indicates a shift in investor sentiment and market dynamics, suggesting a sustainable move rather than a temporary surge.
“If an altcoin season happens, memes will outperform altcoins. If an altcoin season doesn’t happen, memes will outperform altcoins,” said meme coin analyst Murad Mahmudov, expected.
To know more: 7 Trending Meme Coins and Altcoins in 2024
Mahmudov takes aim at meme coins inside the Ethereum (ETH) OR Solana (SOL) ecosystems, especially those with market caps between $5 million and $200 million. Look for coins that have reached or are approaching “critical mass,” indicating a strong, cult-like community.
Mahmudov believes in direct investment strategy – buy and hold for more than a year, avoiding derivatives and volatile micro-cap meme coins.
Among his high-conviction picks is American Coin (USA), which is believed to benefit from national events such as the Fourth of July, the Olympics, or the U.S. election. These events could catalyze significant price movements.
“My thesis is simple, identify the #1 coin in each subcategory of meme coins and simply Buy and Hold. This is the coin of the #1 country, whose citizens are the richest and most represented on crypto Twitter,” Mahmudov explained.
Other meme coins Its portfolio includes Popcat (POPCAT), Retardo (RETARDIO), and GigaChad (GIGA), highlighting the diversity within the meme coin industry.
The cultural resonance of meme coins is a major draw. They reflect contemporary internet culture, blending humor, criticism, and community spirit. This cultural connection engages a broad demographic, especially young, tech-savvy investors active on Crypto Twitter.
Miles Deutscher, another cryptocurrency influencer, supports this view. He notes Pepper (PEPPER) and Foxy (FOXY) as top picks and praises their balance between potential return and risk.
“Meme coins, in general, I don’t think you can really fade away in terms of positioning them in your portfolio. They’re still the strongest coins on the market. They continue to show relative strength,” Deutscher said.
Note that meme coins often outperform more fundamentally driven altcoins during major market downturns.
To know more: Top 11 Solana Meme Coins to Watch in July 2024
Italian: https://www.youtube.com/watch?v=Xyy-lHecMKw
Investors are becoming increasingly sophisticated about meme coins, seeking quick profits and looking for assets with longevity and cultural impact. This strategy reflects broader investment trends where community storytelling and engagement can significantly impact an asset’s value.
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