A closely followed crypto strategist is turning very bullish on memecoins in the current market cycle.
Pseudonymous analyst Altcoin Sherpa tells his 215,600 followers on the social media platform X that retail traders could send memecoins soaring.
[adinserter block="1"]“Highly bullish on memes this cycle though for a lot of reasons. New retail wants to get rich quick, they’re going to enter the casino with us. Adapt or continue to underperform.”
The analyst also reveals his top memecoin picks starting with large market cap projects: Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), Bonk (BONK) and dogwifhat (WIF).
The analyst’s top mid-cap memecoin picks include Brett (BRETT), Joe Boden (BODEN), Popcat (POPCAT), Coq Inu (COQ) and Myro (MYRO).
The analyst also says that BONK is likely to continue to outperform another Solana (SOL) based memecoin, WIF.
“WIF: Bonk and WIF take turns leading as the Solana meme leader. It looks like eyes are mostly on BONK at the moment and I expect there to be a leader/lagger relationship similar to DOGE/SHIB. For now, I expect WIF to do decently as long as BONK is strong, but probably better to just long the leader aka BONK…
BONK looks strong, expecting WIF to also do well as long as BTC holds up. Probably wouldn’t buy here though given the previous price action.”
BONK is trading for $0.00002825 at time of writing, up nearly 12.5% in the last 24 hours. Meanwhile, WIF is trading for $3.20 at time of writing, down more than 1% on the day.
Follow us on X, Facebook and Telegram
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: DALLE3
