According to a well-known crypto strategist, memecoins are set to make a comeback after experiencing significant losses in recent months.
Altcoin Sherpa, a trader who shares insights with over 244,300 followers on X, believes that meme tokens will once again capture the spotlight in the cryptocurrency market, emphasizing the importance of trader attention.
While Altcoin Sherpa anticipates a resurgence in memecoins, he suggests that older tokens are likely to lead the way. One such token he is monitoring is Bonk (BONK), which is based on the Solana (SOL) blockchain.
“Most memes took a hit, but I think they will bounce back to some extent. Memes thrive on attention, but I believe the more established ones will have a better chance.
It’s all about the ecosystem. When SOL is performing well, tokens like BONK could be promising bets. BONK, currently down 85% from its peak, might present a good opportunity at this level (I hold a position in it).”
The trader references the Lindy Effect, which suggests that the longer something has been around, the more likely it is to continue surviving.
Currently, BONK is valued at $0.000012.
Another memecoin that Altcoin Sherpa has his eye on is Pepe (PEPE), which is based on the Ethereum (ETH) blockchain.
“It seems like PEPE is also at a bottom.
PEPE is closely tied to ETH but could also perform well if BTC sees significant movement, in my opinion.”
Based on the trader’s analysis, PEPE is expected to either reach a high of $0.000015 or drop to a new low of $0.000001 by 2025.
Currently, PEPE is trading at $0.000007.
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