Memecoins
Analyst predicts huge gains ahead
Prominent cryptocurrency analyst Elja recently revealed his rises and falls for meme coins, indicating that the coins will likely experience more fluctuations but hold great potential. In a recent article
Recalling that wonderful performance of SHIB, from a roller coaster ride of 5,000% rise in mid-December to an 80% drop at the end of December to a 1,600% rise in mid-January of the following year. As Elja pointed out, such a historical model can also predict the rest of the meme coin market.
The Memecoin Roller Coaster Ahead
His prediction is that memecoins will decline sharply in 2024 and most of them will lose between 60-80%, but he says that each pullback is followed by a more massive increase. Elja emphasized that this expansion would be propelled by the highly anticipated alternate season.
Elja’s analysis paints a clear picture of the current state of memecoin and provides insight into how to manage volatility. In other words, by studying cycles that have already occurred and trying to predict future cycles, an investor can benefit from purchasing those assets that will benefit from rising prices when the prospects of a market turnaround appear.
Analysts believe that the stability of the crypto market is cyclical in nature and these waters need to be mastered first. Although meme coins can be attributed to minor jokes on the Internet, they have demonstrated their potential to generate great financial influence, attracting the interest of both inexperienced and experienced investors.
Memecoin fluctuations will likely remain very unpredictable, with large-scale fluctuations in value in the near future. However, given the high potential rates of other season next term, it might be rational to continue waiting. Potential and achievable returns must now be expected and obtained in a context of change, anticipating market fluctuations.