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Will Dogecoin, Shiba Inu, Pepe Continue The 'Memecoin Supercycle' Despite The Crypto Crash? 'Just The Tip Of The Iceberg,
He believes the wealth gap will widen as the dollar weakens, leading to an influx of money into hedges like equities, Bitcoin BTC/USD+4.24%+ Free Alerts and other major blockchains.
Kaleo further stated that the average person without excess capital to invest will feel the pinch, as their purchasing power decreases. He thinks that retail investors, feeling priced out of the major names in crypto, will gravitate towards meme coins.
According to Kaleo, the capital from major cryptocurrencies will trickle down and chase into the meme trade.
He concluded, "What we’ve seen so far is just the tip of the iceberg for what's to come."
Why It Matters: Based on Coingecko data, the meme coin market capitalization tallies at $37 billion, a 13% drop in the past 24 hours).
Google Trends data shows that search interest over time for "meme coins" spiked to 62 the prior week, a high since the second week of June.
Crypto Kaleo’s prediction comes at a time when the popularity of meme coins is on the rise. He added that meme coins often seen as a more accessible entry point into the crypto market, have been gaining traction among retail investors.
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