Meme Coin Market Will Surge in 2024, but It Won\'t Be Like 2021, Altcoin Sherpa Predicts

A renowned crypto analyst shared his views on the potential surge in the meme coin market and how it will relate to the 2021 bull run.

A renowned crypto analyst has shared his views on the potential surge in the meme coin market and how it will relate to the 2021 bull run. According to Altcoin Sherpa, the meme coins will have their super cycle, but it most likely won’t be what investors are expecting.

He stated that we probably won’t see another run like SHIB’s 2021 surge, where we witnessed the altcoin’s price exploding by around 135,270% to peak at $0.0001336. The reason behind his doubt is that the market is too dispersed and we still haven’t seen a run like 2021. He also thinks that we won’t see such incredible gains ever again.

Altcoin Sherpa stated that just like there are way too many tech shitcoins, the market is flooded with memes. The attention of investors is divided among many assets and the liquidity is not as concentrated as it used to be.

He says that in 2021 we had every sector pumping, while the 2024 bull rally is not as widespread as it should be.

However, he also says that the meme coin sector will still likely be one of the best performing sectors and most gains will be concentrated there, but they won’t be as significant as what we saw with some other coins like Dogwifhat (WIF).

The analyst predicts we will have something like 15 mid cap coins doing very well and spread out vs. highly concentrated bets – for example 15 coins will do 10x vs. 3 coins doing a 50x type of surge.

Bottom line is that the market environment is just too different from 2021 and everything is too dispersed. We will most likely see the rising tide lift most assets, but only marginally. Altcoin Sherpa still believes that investing in the meme coin sector is a good idea, especially for those who seek riskier investments with bigger profit potential.

The above is the detailed content of Meme Coin Market Will Surge in 2024, but It Won\'t Be Like 2021, Altcoin Sherpa Predicts. For more information, please follow other related articles on the PHP Chinese website!