A well-known crypto strategist is becoming increasingly optimistic about memecoins in the current market cycle. Altcoin Sherpa, an analyst who goes by a pseudonym, has shared his thoughts with his large following of 215,600 on the social media platform X, stating that retail traders could potentially drive the value of memecoins to new heights. He believes that the influx of new retail investors seeking quick wealth will join the memecoin frenzy. According to Altcoin Sherpa, those who fail to adapt to this trend will underperform in the market.
Altcoin Sherpa has also disclosed his top picks for memecoins, starting with those with large market capitalizations. These include Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), Bonk (BONK), and dogwifhat (WIF). Additionally, Altcoin Sherpa has identified his top mid-cap memecoin choices, which consist of Brett (BRETT), Joe Boden (BODEN), Popcat (POPCAT), Coq Inu (COQ), and Myro (MYRO).
Altcoin Sherpa also predicts that BONK will continue to outperform another Solana-based memecoin called WIF. He suggests that BONK is currently receiving more attention and expects a similar leader/lagger relationship to that of DOGE and SHIB. While he believes WIF will perform decently as long as BONK remains strong, he advises investors to focus on the leader, which is BONK.
Currently, BONK is trading at $0.00002825, experiencing a nearly 12.5% increase in the last 24 hours. On the other hand, WIF is trading at $3.20, showcasing a slight decrease of more than 1% for the day.
It is important to note that the opinions expressed by Altcoin Sherpa are not investment advice. Investors are encouraged to conduct their own research and due diligence before engaging in high-risk investments involving Bitcoin, cryptocurrency, or digital assets. The Daily Hodl, where this information was sourced from, does not endorse the buying or selling of any cryptocurrencies or digital assets, nor do they provide investment advice.
