Altcoins
Analyst Calls Dogecoin, Shiba Inu, and FLOKI “Dino Coins,” Here’s What It Means
A crypto analyst has shed light on how meme coins and altcoins will perform during the upcoming bull run. He referred to popular meme-based cryptocurrencies as Dogecoin (DOGE)Shiba Inu (SHIB) and FLOKI, under the name “Dino Coins,” highlighting that these tokens could potentially skyrocket during altcoin season.
Dogecoin and Meme Coins Expected to Lead Altcoin Season
In a fairly long X (formerly Twitter) job, a crypto analyst identified as “Vapor” shared detailed information on the bullish outlook for the crypto market. He referred to coins such as PEPE, Dogwifhat (WIF), BONK, Dogecoin, Shiba Inu and Floki as top coins, which have achieved a significant level of stability and market acceptance, fueled by their large communities and registrations at the first level. Centralized Exchanges (CEX).
Vapor also characterized these meme-based cryptocurrencies like “Dino Coins,” fully diluted digital currencies without adequate market attention or momentum. This analysis may be valid because meme coins tend to be neglected or experience stagnant value during bearish periods, but experience renewed interest and momentum once the the market becomes bullish Again.
According to the analyst, the advantage of prime coins is their ability to “catch high multiples.” This essentially means that, unlike most altcoins, meme coins have a higher chance of being minted. witness astronomical rallies to new heights, offering investors significant financial opportunities. It is important to note that the meme pieces are also very volatile and speculativethey are therefore subject to sharp declines which can lead to significant losses for investors.
Vapor predicted that blue chip coins could potentially lead the altcoin season, benefiting the most from the bull run due to their growing demand and popularity among crypto investors. The crypto analyst revealed that Meme coins were the first choice of most investors rather than altcoins, citing low dilution and mass appeal to retail investors as reasons for its analysis.
Additionally, he highlighted the massive rally of Dogecoin and Shiba Inu during the latest bull run in 2021, highlighting the potential for meme coins to rise again during the upcoming altcoin season. Vapor indicated that even as promising new categories of altcoins emerge during this market cycle, mass retail investors will likely turn to CEX-listed meme coins, just as they did during the run. bullishness of 2021.
Altcoin season will follow Bitcoin’s rise to new ATHs
In his article The analyst revealed that Bitcoin will have to surpass its all-time high above $73,000 before the altcoin season can start. “If the top is already reached for Bitcoin this cycle, then altcoins are officially doomed and we can pack them,” Vapor said.
However, the analyst revealed that Bitcoin is yet to reach its peak, citing the upcoming Federal Reserve (FED) rate cutSpot Bitcoin ETF Entries and Upcoming US presidential election as triggers for Bitcoin’s potential rise to new all-time highs.
Vapor also revealed that influxes of Ethereum Spot ETF could see significant wealth flowing into Ethereum and various other altcoins in the space. He revealed that the existence of an altcoin season should not be in question, but rather it is the scale of the season that remains uncertain.
Featured image created with Dall.E, chart from Tradingview.com