By Scott Matherson, Bitcoinist.com
A crypto analyst has shed light on the performance of meme coins and altcoins in the upcoming bull run. He has labeled popular meme-based cryptocurrencies like Dogecoin (DOGE), Shiba Inu (SHIB), and FLOKI, as “Dino Coins,” emphasizing that these tokens could potentially skyrocket during the altcoin season.
Dogecoin, Meme Coins Expected To Lead Altcoin Season
In a rather lengthy X (formerly Twitter) post, a crypto analyst identified as ‘Vapor’ shared detailed insights on the crypto market’s bullish outlook. He referred to meme coins like 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 listings on top tier Centralized Exchanges (CEXs).
Vapor also characterized these meme-based cryptocurrencies as “Dino coins,” digital currencies that are fully 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 market turns bullish again.
According to the analyst, the advantage of blue chip meme coins is their ability to “catch high multiples.” This essentially means that, unlike most altcoins, meme coins have a higher chance of witnessing astronomical rallies to new highs, offering investors significant financial opportunities. It’s important to note that meme coins are also highly volatile and speculative, therefore they are prone to steep declines which can lead to major losses for investors.
Vapor has predicted that blue chip meme coins will potentially lead the altcoin season, benefiting the most from the bull run due to their increasing demand and popularity amongst crypto investors. The crypto analyst revealed that meme coins were the top choice for most investors rather than altcoins, citing low dilution and mass appeal to retail investors as reasons for his analysis.
Additionally, he highlighted Dogecoin and Shiba Inu’s massive rally during the last bull run in 2021, underscoring the meme coins’ potential to surge again during the upcoming altcoin season. Vapor indicated that even if new, promising categories of altcoins emerge in this market cycle, mass retail investors will likely gravitate towards CEX-listed meme coins, just like they did in the 2021 bull run.
Altcoin Season To Follow Bitcoin’s Surge To New ATHs
In his X post, Vapor shared a price chart depicting altcoins performance against Bitcoin’s dominance. The analyst disclosed that Bitcoin will have to surpass its all-time high above $73,000 before the altcoin season can begin. “If the top is already in for Bitcoin this cycle, then altcoins are officially doomed and we can pack it up,” Vapor stated
However, the analyst disclosed that Bitcoin has not reached its top yet, citing upcoming Federal Reserve (FED) rate cuts, Spot Bitcoin ETF inflows and the upcoming US presidential election as trigger factors for Bitcoin’s potential rise to new all-time highs.
Vapor also disclosed that the inflows from Ethereum Spot ETFs could see significant wealth flowing 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 magnitude of the season that remains uncertain.
