Benzinga - by Khyathi Dalal, Benzinga Staff Writer.
As the “meme coin supercycle” chugs on, several traders have chipped in with lofty price predictions about which meme coins could net traders massive gains.
What Happened: Pseudonymous cryptocurrency influencer Crash, who famously turned $15,000 into over $5 million with a meme coin, predicted several new memes to emulate the success of Dogecoin (CRYPTO: DOGE), Shiba Inu (CRYPTO: SHIB), and Floki Inu (CRYPTO: FLOKI) in the previous cycle:
DOGE SHIB FLOKI made ppl rich last cycleThis cycle it's
BRETT on Base
BOBO on eth
PEPE on ETH
REDO on TON
Yes these are my meme bags.
And yes they are and will continue to outperform 99.999% this cycle pic.twitter.com/yRxZNABPgx
— Crash (@CrashiusClay69) April 23, 2024
For this cycle, Brett (CRYPTO: BRETT) on Base, Bobo (BOBO) on Ethereum, Pepe (CRYPTO: PEPE) on Ethereum, and Resistance Dog (REDO) on TON will be the top performers, outperforming 99.999% of other cryptocurrencies, according to Crash.
Another notable trader, Vapor, argues that while Bitcoin (CRYPTO: BTC) is widely recognized as the “hardest asset on earth,” the best way for investors with small capital to accumulate more Bitcoins is by “playing the altcoin game.” He states that “alt-seasons are where life-changing money is made.”
However, the tweet highlights that the altcoin landscape has changed, and asset selection now matters more than ever. They attribute this to two main factors:
- Increasing recognition of Bitcoin as a flight to safety
- Difficulty in finding obvious criteria to select good altcoins amid a sheer number of available options and complex fundamentals.
Also Read: Only Dogecoin And Shiba Inu Have Crossed The $10B Meme Coin Mark: ‘Who Will Be The Third?,’ Muses Crypto Whale
Why It Matters: The trader notes that the public struggles to understand the complex narratives surrounding many altcoins, making it challenging for them to differentiate between various projects. Altcoin selection as a process is self-reinforcing and is why meme coins outperform during bull runs.
Notable trader Mister Crypto points to Dogecoin and Shiba Inu making millions for those who were early to the meme coin cycle. He picks Pepe, Dogwifhat (CRYPTO: WIF), Brett, and Myro (CRYPTO: MYRO) as the meme coins that will explode this cycle and make traders big money.
Another trader assumes that if Dogecoin peaks to $100 billion in this cycle from the total 300 billion meme coin valuation, smaller ones will total $50 billion, leaving $150 billion for Pepe and many others. He is curious to see which meme coin will come closest to Doge’s market cap.
What's Next: The influence of meme coins and Bitcoin as an institutional asset class are topics expected to be thoroughly explored at Benzinga's upcoming Future of Digital Assets event on Nov. 19.
Read Next: Trader Predicts ‘At Least 3 Meme Coins Above $100B Market Cap’: Here’s Which Coins Benzinga Followers Liked The Most
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