Meme Coins Expected to Lead Altcoin Season
A crypto analyst has predicted that meme coins, such as Dogecoin (DOGE), Shiba Inu (SHIB), and FLOKI, will play a significant role in the upcoming bull run. These coins, dubbed “Dino Coins,” are expected to soar in value during the altcoin season.
Characteristics of “Dino Coins”
- Fully diluted (i.e., all coins have been issued)
- Lack of significant market attention or momentum during bear markets
- Gain renewed interest and momentum during bull markets
- Have the potential for high returns due to their volatility
Why Meme Coins May Lead the Altcoin Season
- They are popular with retail investors due to their low dilution and mass appeal.
- Dogecoin and Shiba Inu experienced massive rallies during the 2021 bull run.
- Mass retail investors are likely to gravitate towards meme coins listed on major exchanges, as they did in 2021.
Bitcoin’s Role in Altcoin Season
The analyst believes that Bitcoin must surpass its all-time high of $73,000 before the altcoin season can begin. Factors such as Federal Reserve rate cuts, Spot Bitcoin ETF inflows, and the US presidential election could trigger Bitcoin’s rise to new highs.
Conclusion
While the existence of an altcoin season is likely, the analyst cautions that the magnitude of the season remains uncertain. However, meme coins, particularly “Dino Coins,” are expected to benefit significantly from the increased demand and popularity among crypto investors.
