Bitrabo Editorial
An expert in cryptocurrencies, Altcoin Sherpa, has shared insights on whether the crypto market will witness a resurgence of the meme coin supercycle experienced by Dogecoin and other meme coins in 2021. The analyst anticipates a meme supercycle but with a different dynamic from what was seen previously.
Predictions on the Potential 2021 Meme Coin Supercycle
Altcoin Sherpa highlighted in a post on X (formerly Twitter) that a meme coin supercycle is on the horizon, albeit not in the traditional sense. The analyst believes that the market is unlikely to see a repetition of the significant price surge experienced by Shiba Inu, which recorded an unprecedented 46,000,000% increase during the 2021 bull market.
The expert’s rationale stems from the notion that the market has become too diversified, and the explosive price movements witnessed in 2021 are unlikely to be replicated due to the vast array of meme coins now available. Altcoin Sherpa pointed out that the excessive number of meme coins in circulation makes it challenging for any individual coin to skyrocket in value akin to Shiba Inu.
Moreover, Altcoin Sherpa emphasized that attention and liquidity in the market are now more scattered compared to the concentrated nature seen in 2021. Consequently, the analyst opined that future price surges would be more isolated to specific coins rather than being a widespread occurrence across an entire sector.
What the Future Meme Coin Supercycle Might Resemble
With the expectation that a Shiba Inu-like surge is unlikely and only sporadic rallies similar to Dogwifhat (WIF) may occur, Altcoin Sherpa projected that meme coin traders could witness medium-sized coins performing well across the board, as opposed to a few dominating the market.
The analyst suggested that while some coins may experience a tenfold increase in value, a select few could see a fiftyfold surge. Despite these projections, Altcoin Sherpa advised investors to maintain exposure to the meme coin sector as there could still be substantial profits to be made. Additionally, he mentioned that investors should diversify their meme coin portfolios based on risk profiles.
Altcoin Sherpa specifically highlighted Dogecoin and Shiba Inu as choices for larger investors, noting that these primary meme coins may have limited room for significant price growth. For those with more liquidity and a desire for higher potential returns, the analyst mentioned assets like PEPE, Dogwifhat, and BONK as suitable options.
Furthermore, Altcoin Sherpa recommended considering mid-cap meme coins, citing the possibility for some to achieve multi-billion-dollar market capitalizations in the future.