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Meme Coin Market Eyes Revival: Analysts Predict an Upcoming Supercycle Beincrypto 20 авг 2024

Meme Coin Market Eyes Revival: Analysts Predict an Upcoming Supercycle 📈

Despite recent challenges such as declining trading volumes and criticism of platforms like Pump.fun, analysts believe meme coins could be approaching an unprecedented upturn. Indicators suggest a meme coin supercycle driven by unique market trends and investor sentiments.

Recently, the meme coin market showed signs of revival, with a 6% market capitalization increase in just 24 hours, totaling around $40.85 billion. Leading this resurgence, Popcat (POPCAT) saw a value jump of nearly 30%, followed by Dogwifhat (WIF) and Brett (BRETT) with gains of 14.5% and 14.3%, respectively.

Analyst Intuitio shared insights, indicating that meme coins usually surge after major altcoins see significant gains, suggesting meme coins thrive when investors feel economically strong. Analyst Murad emphasized the link between monetary printing and the likelihood of a meme coin supercycle, advising focus on memes popular outside of crypto Twitter, cults, culture movements, and cat-themed meme coins.

However, investor Farokh cautioned against high expectations, comparing the meme coin supercycle thesis to the failed non-fungible supercycle from the 2021 bull market. Despite positive signs, challenges remain, particularly with platforms like Pump.fun. Out of over 1.7 million meme coins launched on the platform, only 15 maintained a market capitalization above $10 million for weeks, a success rate of just 0.0001%.

Recent policy changes at Pump.fun have further raised concerns. The platform eliminated its coin creation fee, charging the first buyer instead, leading critics to argue this could result in a flood of low-quality tokens, diluting the market.

Булак: beincrypto.com ↗

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