In the past 24 hours, both Shiba Inu and Pepe have seen an impressive 8% surge, outperforming the wider cryptocurrency market. This comes as the news broke that the SEC has delayed its decision on the Ark Bitcoin ETF, causing a slight decline in the overall market. While this may seem like a setback for Bitcoin, some experts suggest that it could be an opportune time to scale into altcoins, as historical data shows a pattern of altcoin dominance increasing before Bitcoin halving events.
Looking at past Bitcoin halving events, it becomes clear that altcoin dominance tends to bottom out while Bitcoin dominance peaks around ten to twelve months prior to the halving. If this pattern holds true, we may be on the brink of an “altcoin season,” where altcoins experience significant growth. In such a scenario, meme coins are often among the best performers, as they tend to rally the hardest.
Amidst the current crypto landscape, Shiba Inu has become the most trending cryptocurrency on CoinMarketCap. Altstreet Bets, a prominent analyst, is optimistic about Shiba Inu’s future, expecting its price to go even higher. CryptoGodJohn highlights the upcoming launch of Shibarium as a potential catalyst for Shiba Inu’s continued market leadership. Furthermore, Cantering Clark (now The Flow Horse) suggests that someone is building a long position in Shiba Inu, adding to its positive outlook.
Pepe, another meme coin, is currently the second most trending cryptocurrency on CoinMarketCap. The Birb Nest trader QBS foresees a strong rally for Pepe, while Rekt_Tekashi observed a surge in buying volume on the high-timeframe Pepe price chart. Renowned crypto Twitter account KALEO predicts that Pepe is ready for a “full send.” This recent attention signals the potential for Pepe to make significant gains in the near future.
It’s worth noting that there are new meme coins listed on Uniswap with the tickers $SHIB and $PEPE, separate from the established Shiba Inu and Pepe cryptocurrencies. Additionally, we recently highlighted Shibie Coin, which is currently in its presale phase. With over 75% of the tokens already sold, analysts predict that Shibie Coin could be an interesting investment opportunity.
Analysts and crypto enthusiasts alike are closely monitoring the performance of meme coins like Shiba Inu, Pepe, and Shibie Coin. Should Shiba Inu return to its all-time highs, investors could potentially see an 8x gain, while Pepe could achieve a 4x gain. However, it’s important to note that new meme coins with low market caps often experience significant returns within hours of their initial exchange listings. Therefore, keeping an eye on emerging meme coin projects could unlock promising investment opportunities.
The cryptocurrency market continues to evolve, and meme coins are gaining traction as they capture the attention of investors. Shiba Inu and Pepe have already demonstrated their potential for significant gains, and the launch of new meme coins like Shibie Coin adds further excitement to the market. As Bitcoin halving approaches, altcoins may experience a surge in dominance, making this an opportune time to explore alternative investments. While meme coins come with their own risks and volatility, their ability to pump the hardest during an altcoin season cannot be ignored. As the crypto landscape evolves, keeping an eye on meme coins could prove to be a lucrative investment strategy.