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June 15, 2024
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Massive Altcoin Season Ahead if Bitcoin Holds Above This Level – Meme Coins Poised To Rally Hard

The post Massive Altcoin Season Ahead if Bitcoin Holds Above This Level – Meme Coins Poised To Rally Hard appeared first on Coinpedia Fintech News

As the Bitcoin rising momentum fades around $28k, the altcoin season is expected to shine in the coming weeks. Large-cap altcoins, including Ripple-backed XRP and Cardano (ADA), have shown signs of decoupling.

As a result, money flow from Bitcoin to the altcoin market is expected to accelerate as traders seek higher profits. Moreover, the market cap BTC dominance has hit a technical resistance level, which typically indicates the onset of an altcoin pump.

According to popular Twitter crypto analysts Altcoin Sherpa, Bitcoin price has reached a technical resistance range of around $28k. As a result, shorting Bitcoin at current levels if the asset does not record a high time-frame close of above $29k is reasonable.

Top Meme Coins to Watch

According to Altcoin Sherpa, for as long as Bitcoin price holds on its current position, a strong altcoin pump is imminent. Consequently, the analyst thinks some altcoins could pump as much as a hundredfold while others return zero profits.

“I’m of the opinion that alts still have a strong run coming up as long as $BTC holds up. I’ll assume meme coins are going to be last to run but accumulating some of these could be good for 100x or $0,” the analyst noted.

The analyst noted that Dogecoin (DOGE), Floki (FLOKI), and Shiba Inu (SHIB) are some of the meme coins with high possibilities of outperforming the rest of the altcoins in the near term.

Notably, Dogecoin has consolidated around $0.075 in the past three weeks after falling to this year’s low of about $0.063 earlier this month. A Dogecoin pump in the coming weeks could trigger a bull run in the other meme coins. 

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