While many people are going to be millionaires on these memecoins PEPE, FLOKI, BONKI, SHIBA and BOME once invested in. Here is how you need to understand before investing in these memecoins:
Hi, everyone!
We need to understand the importance of a strong money flow to perform well in the cryptocurrency market!
Currently, more than 55% of all money is in BTC!
What does this mean?
It means that a large money flow (buyers & sellers) is essential for a particular cryptocurrency to reach a certain price!
Therefore, many altcoins are waiting for the inflow of this money in the market overall.
To think about getting into altcoins season, a lot of money needs to flow into altcoins and BTC dominance needs to be lower!
All these are fundamentals that will help you understand market cycles.
BTC season Vs. alt season
It will give you an easy way to compound your investments!
If you observe closely, many cryptocurrencies rise in succession (narratives).
That's why you need to understand the narratives that largely affect the money flow.
For example, money revolves around narratives like AI, memes, gaming, etc.
Each narrative has its own time.
It's also good to confirm your research with better answers.
So, not every altcoin will reach or create an all-time high because it won't have a money flow like before.
BTC is the giant of all cryptocurrencies, and we see individuals, institutions, and governments investing in it. Therefore while considering where to invest your money better to be informed and understand the side effect of Bitcoin Dominance whether lower or higher!
It's a game of numbers and then you should leave your comment below they way you prepared to invest into memecoins as mentioned above😋🥳
Not financial advice do your own research 🔬