Crypto Expert Unveils the Top Two Memecoins Poised for Impending Surge
Cryptocurrencies are experiencing a remarkable year in 2024, especially following the approval of Ethereum ETFs. Memecoins, in particular, are booming, with analysts predicting that tokens like PEPE and FLOKI will reach new all-time highs. Although Ethereum’s price may experience a temporary dip, it is expected to bounce back.
The crypto market in 2024 is witnessing a surge, recovering from a slump and setting the stage for potential explosive growth. This year promises to be an exciting ride, especially for Ethereum (ETH) and memecoins, which are making headlines after the long-awaited approval of ETH ETFs.
But what is driving this surge, and could these memecoins be the next big thing? Let’s delve deeper to find out!
ETF Approval Ignites Market Rally
The recent approval by the Securities and Exchange Commission (SEC) for eight spot Ether exchange-traded funds has sparked a frenzy in the market. Prominent names such as BlackRock, Grayscale, and Fidelity have filed for these ETFs, indicating a strong vote of confidence in the Ethereum ecosystem. While buyers of Ethereum are struggling to push its price beyond $3,950, the meme coin market is experiencing a surge in activity.
Meme Coin Craze Takes Off
Interestingly, while Ethereum’s price movement remains somewhat restrained, the meme coin market is ablaze with excitement. Coins like Pepe (PEPE), Floki Inu (FLOKI), and Turbo (TURBO) have fueled a remarkable 4% surge in the meme coin market in the past 24 hours alone.
The collective market capitalization of meme coins has skyrocketed to $66 billion, with a daily trading volume approaching $9 billion.
Expert Insights on Top Picks
Renowned analyst Bluntz has identified two memecoins that are poised for success in 2024. His insights, shared on X, shed light on the potential of Pepe (PEPE) and Floki (FLOKI).
Pepe (PEPE):
Despite a recent 140% surge, Bluntz believes there is still room for growth in PEPE. Currently ranked 12th in trading volume and 30th in market capitalization at $3.59 billion, PEPE has seen an impressive 221.45% increase in value over the past year. Bluntz predicts a target price of $0.000028, representing a substantial 75% increase from its current value of $0.000016.
Floki (FLOKI):
While FLOKI may not match PEPE’s performance, it still holds promise. Ranked 42nd among top cryptocurrencies by volume and boasting a market capitalization of $1.7 billion, FLOKI is positioned for growth. Bluntz draws parallels between FLOKI’s current trajectory and the pre-PEPE all-time high phase, forecasting a new high of $0.00044. With FLOKI currently trading at $0.000294, the potential for robust growth is evident.
Ethereum’s Journey with Bitcoin
Looking beyond memecoins, Bluntz has shifted his focus to Ethereum’s performance, specifically its trading pair with Bitcoin (ETH/BTC). Anticipating a short-term dip below 0.052 BTC ($3,553), followed by a breakout rally to 0.06 BTC ($4,100), Bluntz’s prediction aligns with the Elliott Wave theory.
Currently trading at 0.05625 BTC ($3,842), ETH/BTC presents an intriguing landscape for investors. Bluntz identifies a bearish divergence, suggesting a loss of momentum before the expected dip and subsequent recovery.
These Are Exciting Times!
The crypto market in 2024 is buzzing with activity, with Ethereum and memecoins leading the way. Analysts predict that these trends will continue, with new all-time highs on the horizon for the highlighted memecoins.
Are you ready to explore memecoins further? Check out our guide to the top meme projects:
Top 13 Memecoins to Buy for 10-50x Profits in 2024