Altcoins
An Analyst Calls Dogecoin, Shiba Inu, and FLOKI “Dino Coins”—Here’s What It Means
A crypto analyst has shed some light on the performance of meme coins and altcoins in the upcoming bull run. He labeled the popular meme-based cryptocurrencies as Dogecoin (DOGE)Shiba Inu (SHIB) and FLOKI, as “Dino Coins,” highlighting that these tokens could potentially skyrocket during altcoin season.
Dogecoin and Meme Coins Should Lead the Altcoin Season
In a rather long X (ex Twitter) send, a cryptocurrency analyst identified as “Vapor” shared detailed insights on the bullish outlook of the cryptocurrency market. He referred meme coins such as PEPE, Dogwifhat (WIF), BONK, Dogecoin, Shiba Inu and Floki as “blue chip” meme coins, which have achieved a significant level of stability and acceptance in the market, fueled by their extensive communities and top-tier listings Centralized Exchanges (CEX).
Steam also characterized these meme-based cryptocurrencies such as “Dino coins,” digital currencies that are completely diluted without adequate market attention or momentum. This analysis may be valid, as meme coins tend to be overlooked or experience stagnant value during bearish periods, but gain renewed interest and momentum once the period is bearish. the market turns bullish Still.
According to the analyst, the advantage of blue chip meme coins is their ability to “capture high multiples”. This essentially means that unlike most altcoins, meme coins are more likely to succeed witness astronomical rallies to new highs, offering investors important financial opportunities. It is important to note that meme coins are also highly volatile and speculativethey are therefore subject to sharp declines which can lead to significant losses for investors.
Vapor has predicted that blue chip meme coins will potentially lead the pack altcoin season, benefiting the most from the bull run due to their growing demand and popularity among cryptocurrency investors. The crypto analyst revealed this Meme coins have been the best choice for most investors rather than altcoins, citing low dilution and mass appeal to retail investors as reasons for his analysis.
Furthermore, he highlighted the massive rally in Dogecoin and Shiba Inu during the latest bull run in 2021, underlining the potential for meme coins to rise again during the next altcoin season. Vapor indicated that even if new and promising altcoin categories emerge in this market cycle, mass retail investors will likely gravitate towards CEX-listed meme coins, just as they did in the 2021 bull run.
Altcoin season will follow Bitcoin’s surge to new all-time highs
In his post The analyst revealed it Bitcoin will have to surpass its all-time high above $73,000 before altcoin season can start. “If Bitcoin is already at the top in this cycle, then altcoins are officially doomed and we can do it,” Vapor said.
However, the analyst revealed that Bitcoin has not yet reached its high, citing the impending one Rate cut by the Federal Reserve (FED).Spot Bitcoin ETF inflows and upcoming ones American presidential elections as triggers for Bitcoin’s potential rise to new all-time highs.
Vapor also revealed that inflows from Spot ETF on Ethereum could see significant wealth flow into Ethereum and various other altcoins in the space. He revealed that the existence of an altcoin season should not be questioned, rather it is the scope of the season that remains uncertain.
Featured image created with Dall.E, chart from Tradingview.com