By Key Points
- Analyst labels Dogecoin, Shiba Inu, and FLOKI as “Dino Coins”.
- Predicts meme coins will soar during the next altcoin season.
- Points to past performance and investor interest as key factors.
- Altcoin season to follow Bitcoin’s rise to new all-time highs.
Meme Coins Poised for a Surge
In a recent analysis, crypto expert ‘Vapor’ has tagged popular meme-based cryptocurrencies like Dogecoin (DOGE), Shiba Inu (SHIB), and FLOKI as “Dino Coins.” This label underscores their potential to experience significant price surges in the next altcoin season, despite being overlooked during bearish periods. Vapor’s insights come from a detailed post on X (formerly Twitter), where he discussed the market dynamics and future prospects of these coins.
Vapor described these meme coins as “blue chip” cryptocurrencies, highlighting their established presence and stability in the market. He noted that their large, loyal communities and listings on major Centralized Exchanges (CEXs) contribute to their resilience and potential for high returns. This stability allows them to “catch high multiples,” making them attractive investment options during bullish cycles.
The term “Dino coins” refers to these tokens being fully diluted with less market attention during downturns. However, their inherent volatility and speculative nature can lead to substantial gains once the market turns favorable. Vapor emphasized that meme coins like Dogecoin and Shiba Inu have previously led significant rallies, such as during the 2021 bull run, and are likely to do so again.
Analyst Calls Dogecoin, Shiba Inu, FLOKI ‘Dino Coins’, Here’s What It Means https://t.co/MbcPzhzSyc #cryptocommunity #crypto #nftcommunity
— CryptoLab (@crypto_thinktk) June 19, 2024
Bitcoin’s Influence on Altcoin Season
Vapor’s analysis also covered the broader crypto market, indicating that the altcoin season will likely follow Bitcoin’s ascent to new all-time highs (ATHs). He shared a price chart showing altcoins’ performance against Bitcoin’s dominance, asserting that Bitcoin needs to surpass its previous ATH of $73,000 for the altcoin season to commence. Factors such as upcoming Federal Reserve rate cuts, Spot Bitcoin ETF inflows, and the US presidential election are expected to drive Bitcoin’s rise.
Moreover, Vapor highlighted the impact of Ethereum Spot ETFs, which could channel significant investment into Ethereum and other altcoins. He stressed that while the occurrence of an altcoin season is almost certain, the extent of its impact remains unpredictable.
Meme coins’ ability to capture retail investors’ interest and their low dilution make them prime candidates to lead the next altcoin season. As Bitcoin gears up for a potential new ATH, the crypto community is eagerly watching how these “Dino coins” will perform, with many hoping for another explosive bull run.
