CandleFocus Memecoins’ Next Rally Depends on Users’ Sentiment – Opinion
2024-10-13
Author: Content Editor
The article discusses the potential for growth in memecoins, which currently make up about 2.5% of the total crypto market share. A popular crypto personality suggests that memecoins are under-allocated and slowly gaining momentum. The personality suggests that traders should look for memecoins with long accumulation periods, cult communities on social media, and easy relatability to the general public. The volatility and unpredictable price movements of memecoins make traditional technical analysis less reliable, and instead, the sentiment and behavior of users should be considered. The article also mentions the contradictory opinions on the utility of memecoins, with some arguing for their use as a payment tool and others highlighting their inflationary nature. Dogecoin is currently the leading memecoin, followed by Shiba Inu.
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