“The Rising Star, “DOGS” Coin Era “
The crypto world cannot be separated from various coin categories. There are things called mother coins or parents like Bitcoin (BTC), there are also things called alts coins or alternative coins, and another coin category that is "interesting" and is always looked at by traders to take opportunities there, namely Meme coins.
Memes coin is a crypto asset that is community based and inspired by something viral such as "memes" or other pop culture. The characteristics of this coin are that it is a high risk, high return coin for traders. This characteristic can be present because coin memes usually have a purpose that is not very clear in terms of use cases for real life and can be said to be coins for fun only and driven by support from the community.
As a result of meme coins which usually move because of the enthusiasm and support of the community, Memes coins have the characteristics of price movements in the market, namely that they can rise very bullish massively, and can also dump massively at one time. An example that can be imagined for the movement of this Memes coin is that it can rise up to 100% in 2 hours, but it can also be -100% (Minus 100%) in 2 hours. It looks very volatile and is enough to make the market fluctuate, but this is where Memes coin is "beautiful" because there are many opportunities that can be sought with rapid volatility in the market.
If we look back, one of the famous coin memes is DOGE COIN. DOGE was originally a coin that was created just for fun for the community, then suddenly got a spotlight when one of the leading people, namely Elon Musk, the founder of Tesla, was involved in promoting this coin, especially through the current Twitter or X platform. When Elon Musk tweets on platform X, DOGE can pump massively just from one tweet. These are the unpredictable things in meme coins, and many people are looking forward to "jackpot" opportunities like this in other meme coins.
After we look back at the DOGE coin phenomenon, what will Memes coin be like now in 2024? Will it excite traders like DOGE coin in the past?
The answer is maybe yes, maybe no. How come? Let's discuss the possibility of a lack of exciting meme coins first. Factors that can make the meme coin category not attractive or not perform in the market are if BTC goes sideways massively for a long time or when BTC experiences a correction. This is because there is no inflow into meme coin if the global market is sluggish. Therefore, meme coins rarely outperform the market if there is a massive correction in BTC as the parent coin or usually referred to as the mother coin of cryptocurrency. So it can be concluded that if BTC and the market as a whole goes down or is corrected, then Memes coin will bleed or go down only.
However, the good news for the crypto market and traders is that Memes coin is in a shining phase even in the midst of a market that tends to be sideways in the middle of 2024. we will share several reasons why meme coin is in a phase that can provide great opportunities for traders or investors to make profits here.
The first is the change in hype from Halving to Bull Run. The hype from Bitcoin Halving created a lot of funds or inflows, especially from institutions, focused on Bitcoin. This causes Alts coins including Ethereum and other alt coins to not get as much money inflow so the movement cannot be as massive as bitcoin which can rise significantly to print a new all time high in the 73,000 area. With the end of the Halving schedule in 2024, market sentiment will slowly begin to shift to Bull Run preparations for alt coins.
We can pay attention to this shift or shift with a new sentiment that has recently become a concern among investors, namely the ETH ETF.
ETF or Exchange-Trade Fund is basically a mutual fund, this product is traded like crypto coins on the market. ETF is a combination of mutual fund elements in terms of fund management with crypto mechanisms in terms of buying and selling transactions.
This ETH ETF is important because if the application for this ETF or ETH mutual fund is accepted, then Ethereum will be increasingly looked at by large institutions and the bigger impact will be that crypto adoption will be increasingly accepted on a massive scale in the global world. The sentiment in this ETH coin is also good not only for this Ethereum coin, but also for all coins in the Ethereum ecosystem. And as you might have guessed, that's right, including meme coins in the Ethereum ecosystem.
Before spilling, I want to disclaim first, this is not an invitation to sell or buy a particular asset. This is just for sharing material #Disclaimer
I think the interesting coin memes are dog themed coins. Without further ado, just go straight to the DOGS trio, namely $FLOKI $SHIB $BONK . I find these three coins the most interesting because according to the charts, all three have risen very significantly for 2024.
We will discuss the technical details one by one, starting from FLOKI
Floki is technically very interesting because even though it has previously risen 1000%, there are things that support a bullish movement in the future. Bullish things that support FLOKI are as follows:
1. ETH sentiment that will encourage Coins in its ecosystem to move further
2. Memes The era that is visible due to the dominance of Memes coin in the market is at its best so it is in the spotlight this year
3. Entering the technique, there is a Descending Bullish Broadening Wedge with the initial target being the depth of the Wedge
4. There is a continuation pattern, in the form of an Ascending Triangle which has been confirmed and is currently marked by a breakout from its resistance.
5. With all the information obtained through this chart from FLOKI, the future is expected to reach the $0.3 area first. Next target? Go to $1.
The next interesting coin to look at in 2024 is BONK.
Chart-wise, BONK has something very interesting, in this case it is “Power Play”. I will explain in point form everything in this BONK. Bullish things that support BONK are as follows:
1. Power Play, is a condition where a coin chart becomes very attractive because there is a daily pattern and its supporters which can provide an opportunity for a very massive increase.
2. The Power Play owned by BONK is the presence of a very large Double Bottom on the daily and supported by…
3. Ascending Triangle which is formed in the second "bottom" of the Double Bottom pattern.
4. If it happens according to this plan, this Power Play will provide a target pattern at least in the $0.05 to $0.06 area first.
These are two DOGS coins that have potential and are very interesting to see in 2024. The question is: Are there any more interesting coins in this Memes category? The answer: THERE'S MORE!!! Namely SHIB and there are 2 more coins that come from the Solana Ecosystem which were also "Winners" in the previous cycle in 2024. For these coins, I will review a lot on my Telegram channel. Please come to my telegram channel with the following link: https://t.me/BillionaireTrader99 #disclaimer
