Meme coins have seen a significant rise in popularity, with their market capitalization surpassing $58 billion. This growth has stirred debate among investors about whether meme coins are on the brink of a supercycle or a dramatic correction.
Some analysts, including Miles Deutscher, view the widespread discussions on social media as a warning sign. Deutscher suggests that the "mindshare" of meme coins is at an all-time high, indicating a possible peak in their popularity.
He advises caution, warning investors against selling altcoins to jump on the meme coin bandwagon without careful planning. Deutscher believes a temporary cooling period might be imminent.
Similarly, CrediBULL Crypto links the current trend to a potential end of the hype cycle, drawing parallels between meme coins and other asset classes, suggesting major meme coins have topped.
On the contrary, optimists like Murad see the performance of meme coins growing on platforms like Solana and Ethereum as a sign of an early-stage supercycle.
Additionally, Google Trends data reflecting consistent high search interest suggests meme coins are attracting new investors.
Investor Curb predicts that meme coins are only beginning their cycle, with a market capitalization of $58.3 billion, indicating potential further growth.
