From DOGE to WIF, Analyzing the Layered Evolution and Rotation of Meme
1.$DOGE -> Mid-cap Meme Coin Rotation
In my opinion, the performance of Meme coins is inseparable from DOGE. As the elections approach, $DOGE has garnered renewed attention, and I think it will be interesting to analyze how value is dispersed within the Meme coin category. Here are my thoughts.
2.I believe that it is becoming increasingly difficult to drive Meme coin market share without significant rises in $DOGE / $SHIB. In 2024, the overall market capitalization of Meme coins has risen dramatically, nearing the historical high point (ATH) of 2021:
3.Most of this year's value growth comes from explosive growth in non-$DOGE / $SHIB Meme coins. Currently, the market dominance of DOGE and SHIB has dropped to about 57%:
4.Nevertheless, the market share of Meme coins in cryptocurrency is still below the levels when $DOGE reached ATH in 2021. The influence of DOGE cannot be ignored; this week, the total market capitalization of this asset increased by $7 billion, roughly equivalent to a $PEPE + $WIF.
5.I find the prospects for $DOGE interesting, even without new retail interest. I expect the dominance of $DOGE / $SHIB to gradually recover. Currently, there is a large amount of capital on the sidelines in this round of Meme coin rebound...
6....These individuals are intermediate investors who are skeptical about the legitimacy, sustainability, and impact of this category. Or they may not want to participate in trades with low liquidity and high turnover. Therefore, many people have missed the opportunity of $WIF, $PEPE, and $BONK.
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