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The cryptocurrency market has been abuzz with speculation about the future of meme coins, with a prominent trader discussing the potential for a “meme coin supercycle.” According to the analysis, while the market may not see a repeat of the concentrated liquidity and massive gains witnessed during the 2021 run-up of meme coins like Shiba Inu and Dogecoin, a new wave of mid-cap coins is poised to perform well.
Market Dynamics and Shift
Recent analysis suggests that investors should broaden their focus beyond individual meme coins and consider the meme coin sector as a whole. The market dynamics are shifting, with a notable focus on the emergence of mid-cap coins as potential performers in the market. While meme coins like Dogecoin and Shiba Inu have historically captured the attention of big whales, newer mid-cap coins such as Pepe, WIF, and BONK may offer strong liquidity and upside potential.
The growing market capitalization of meme coins, with an 11% increase over the past 24 hours, reaching a total of $52.5 billion, highlights this shift. Notably, the top performers over the past 30 days have been newer coins launched in the small-cap and mid-cap segments, signaling a shift in market trends.
Potential of Mid-Cap Meme Coins
Mid-cap meme coins such as Gigachad, Popcat, and Mog Coin have recorded substantial gains, with Gigachad seeing a 558% increase in the past 30 days and Popcat achieving a 204% gain. These impressive performances underscore the potential for mid-cap meme coins to drive significant value in the market.
- Mid-cap coins like Gigachad and Popcat have shown substantial gains
- Newer mid-cap coins such as Pepe, WIF, and BONK offer strong liquidity and upside potential
- The market capitalization of meme coins has seen an 11% increase over the past 24 hours, reaching a total of $52.5 billion
Future of Digital Assets Event
The upcoming Future of Digital Assets event hosted by Benzinga is set to delve into the influence of meme coins and provide a platform for industry experts to share their insights. This event promises to offer valuable perspectives on the evolving landscape of meme coins and the opportunities they present in the market. With the potential for mid-cap coins to drive significant gains and reshape the meme coin market, the insights shared at the event are poised to offer valuable guidance to investors navigating this dynamic sector.
📎 Read the original article on benzinga.com
