Established Meme Coins Poised for a Significant Rally, Crypto Trader Unipcs Says-web3.0-php.cn

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Established Meme Coins Poised for a Significant Rally, Crypto Trader Unipcs Says

Mary-Kate Olsen

Oct 10, 2024 am 06:04 AM

dogecoin Shiba Inu Rally Meme Coins

The market capitalization of meme coins is trading sideways over the last 24 hours, with a majority of established memes like Shiba Inu SHIB/USD

Established Meme Coins Poised for a Significant Rally, Crypto Trader Unipcs Says

Meme Coin Market Cap Trades Sideways; SHIB, Pepe, Dogwifhat Struggle To Hold September Gains

Meme Coin Leaders Clock Modest Gains, Trading Sideways Since Early October

Meme coins have largely traded sideways over the last 24 hours, with a majority of established memes failing to back up their September gains. At press time, the total market capitalization of meme coins stood at $21.5 billion.

Crypto trader Unipcs highlighted that despite the hype around newer coins, established ones are poised for a significant rally.

Highlighting the previous cycle where SHIB surged 10x in weeks, surpassing DOGE in market capitalization, Unipcs suggested that the same could happen now, with established meme coins outperforming the new ones.

“Your shiny new meme coins will take a breather soon, then the established meme coins will pull a super aggressive monster rally that will make you gasp for breathe,” the trader noted.

He emphasized that established meme coins are traded on the most liquid outlets and have enough liquidity to absorb massive buy and sell volumes from big funds.

Unipcs also pointed out that both retail and institutional investors trust established meme coins due to their stability and resistance to market manipulations.

Meme Coin Leaders Clock Modest Gains, Trading Sideways Since Early October

Meme coin leaders Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) have clocked 6.6% and 26.4% gains over the past 30 days but are trading mostly sideways or down since the start of October.

Shiba Inu has seen consistent token burns but has failed to make up further ground over the past week.

Both meme coins are set to be featured at the upcoming Benzinga Future of Digital Assets event on Nov. 19.

See More: Best Meme Coins To Buy Now

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