Bitrabo Editorial
A crypto analyst recently shared insights on the potential performance of meme coins and altcoins in the upcoming bull run. Popular meme-based cryptocurrencies such as Dogecoin (DOGE), Shiba Inu (SHIB), and FLOKI are referred to as “Dino Coins” with the possibility of significant growth during the altcoin season.
The Role of Dogecoin and Other Meme Coins in the Altcoin Season
In a detailed post on X (formerly Twitter), the analyst known as ‘Vapor’ discussed meme coins like PEPE, Dogwifhat (WIF), BONK, Dogecoin, Shiba Inu, and Floki as “blue chip” meme coins. These coins have gained stability and recognition in the market with strong communities and listings on major Centralized Exchanges (CEXs).
‘Vapor’ classified these meme-based cryptocurrencies as “Dino coins,” referring to digital currencies that are fully diluted with limited market attention. Meme coins typically face neglect or value stagnation in bearish phases but tend to regain interest and momentum during bullish market conditions.
The analyst pointed out that meme coins like Dogecoin are capable of achieving significant price increases compared to most altcoins. While offering attractive financial opportunities, meme coins are also known for their volatility, making them risky investments with the potential for substantial losses.
‘Vapor’ predicted that blue chip meme coins would likely lead the altcoin season as they continue to gain popularity and demand among crypto investors. Meme coins, especially those listed on CEXs, are favored by retail investors due to their appeal and lower dilution compared to traditional altcoins.
Furthermore, Dogecoin and Shiba Inu’s remarkable performance in the previous bull market of 2021 indicates the potential for these meme coins to surge again during the upcoming altcoin season. Despite the emergence of new promising altcoin categories, retail investors are expected to favor CEX-listed meme coins, continuing the trend seen in the 2021 bull run.
Altcoin Season and Bitcoin’s Influence
‘Vapor’ shared a price chart in his X post illustrating the performance of altcoins relative to Bitcoin’s dominance. The analyst emphasized that Bitcoin must surpass its previous all-time high above $73,000 for the altcoin season to commence.
Regarding Bitcoin’s future, ‘Vapor’ mentioned upcoming factors like Federal Reserve (FED) rate cuts, Spot Bitcoin ETF inflows, and the upcoming US presidential election as potential catalysts for Bitcoin to reach new all-time highs.
The analyst also highlighted the impact of Ethereum Spot ETF inflows on Ethereum and various altcoins, suggesting that significant wealth could flow into these assets. ‘Vapor’ affirmed the existence of an altcoin season, underscoring uncertainties about its magnitude rather than its presence.