Shiba Inu (SHIB) Is a Blue Chip Meme Coin, Cites Recovery Potential in the Upcoming Altcoin Season

Over the past month, Shiba Inu (SHIB) has seen its price fall significantly, shedding over 40% of its value since reaching a monthly high of $0.00002874 on May 29.

Crypto trader Vapor has endorsed Shiba Inu (CRYPTO: SHIB) as a blue chip among meme coins, suggesting it could be poised to benefit in the upcoming altcoin season.

In his latest tweet, Vapor highlighted the enduring strength of meme coins despite broader market headwinds. Countering the narrative that meme coins are set to vanish like NFTs, he pointed to the tendency of pessimistic sentiment to arise among those who may have struggled with Bitcoin.

According to Vapor, meme coins do offer opportunities for financial gain, albeit with inherent risks. Among the meme coins, he distinguished a select few, including Shiba Inu, which he described as a "blue chip project" that has secured major exchange listings and boasts a dedicated community.

Others on Vapor's list of blue chip meme coins include Dogecoin (CRYPTO: DOGE), Floki, PEPE, BONK, and WIF, essentially the most valuable meme-based projects in the market.

In his view, these assets stand out due to unique attributes, such as the development team selling their allocations at significantly lower valuations, which leads to excellent stability and widespread popularity among retail investors.

Crucially, Vapor also emphasized the advantages of these meme coins in their lack of dilution and broad appeal among retail investors. These attributes, he suggested, could make them attractive candidates for holding through future alt seasons.

Considering the momentum and mass appeal of these coins, even among crypto enthusiasts, Vapor highlighted the possibility of substantial attention. He noted the example of Shiba Inu, which soared by over 884,000% during previous market cycles to reach its all-time high of $0.00008845.

In conclusion, Vapor's analysis suggests that his list of blue chip meme coins is well-positioned to benefit from the much-anticipated altcoin season. The trader pointed out that even if new categories of altcoins emerge, the ultimate determinants of success will be the choices made by retail investors during the latter stages of a bull run.

Given the current landscape, Vapor anticipates that retail investors will continue to gravitate towards established, exchange-listed meme coins like SHIB, similar to patterns observed in 2021.

News source：https://www.kdj.com/cryptocurrencies-news/articles/shiba-inu-shib-blue-chip-meme-coin-cites-recovery-potential-upcoming-altcoin-season.html

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