Crypto Trader CryptoKaleo Discusses Whether the 'Memecoin Supercycle” Is Still in Play After the Latest Crypto Market Crash

Crypto trader CryptoKaleo discussed whether the “memecoin supercycle” is still in play after the latest crypto market crash.

Cryptocurrency trader CryptoKaleo took to X on Monday to discuss whether the “memecoin supercycle” is still in play after the latest crypto market crash.

According to the trader, as the dollar weakens, the wealth gap will increase, leading to an influx of money into hedges such as equities, Bitcoin (CRYPTO: BTC) and other major blockchains.

However, the average person without excess capital to invest will feel the pinch as their purchasing power decreases, Kaleo said.

Retail investors, feeling priced out of the major names in crypto, will gravitate towards meme coins, according to the trader.

"The capital from the majors will trickle down and chase into the meme trade. What we’ve seen so far is just the tip of the iceberg for what's to come," Kaleo concluded.

See Also: Dogecoin Vaporizes 37% Of Its Value In A Week: Is This Really ‘Just A Few Months Of Chop Before Full Send’ As Trader Claims?

The meme coin market capitalization currently stands at $37 billion, a 13% drop over the past 24 hours, according to CoinGecko.

Over the past week, Google Trends data showed that search interest over time for "meme coins" spiked to 62, which is the highest since the second week of June.

CryptoKaleo’s prediction comes at a time when the popularity of meme coins is on the rise. Meme coins, often seen as a more accessible entry point into the crypto market, have been gaining traction among retail investors.

However, meme coins have experienced a strong correction over the past month.

What’s Next: The influence of meme coins is a topic that will be explored at Benzinga's upcoming Future of Digital Assets event on Nov. 19.

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