Memecoins have been shining over the weekend amid the recent recovery in the broader cryptocurrency market. While Bitcoin (BTC) is trying to stabilize above the $57,000 level, memecoins have been standing out in the market for their developments, catching the attention of investors.

2024 is set to see growth in the memecoin market, including the Solana ecosystem tokens, one of the rising stars. Amid the recent developments in the industry, one cryptocurrency expert has highlighted his prediction that a memecoin cycle is beginning.

Former Goldman Sachs analyst Murad Mahmudov recently shared his bullish outlook on the memecoin market. In an analysis on social media platform X, the cryptocurrency expert highlighted that the industry will go through another meme coin cycle.

“Price performance of Majors and Memes since $BTC peakbottom yesterday. Yeah, I’m thinking this is going to be a Memecoin Cycle,” the expert wrote in a shared post on July 6. It’s worth noting that Mahmudov has previously suggested that digital asset investors focus exclusively on meme cryptocurrencies.

Memecoins outperform Bitcoin to record best performance in 2024

In a surprising development, memecoins have outperformed Bitcoin as the best performer in 2024, according to recent data. This type of cryptocurrency has been experiencing significant rallies and price explosions, attracting several investors and garnering attention in the market this year.

In the world of cryptocurrencies, the emergence of meme-inspired coins has been extraordinary. These unique digital assets are inspired by popular memes and often have a comical or entertaining twist. Meme-inspired coins have gained significant attention and popularity thanks to their passionate online communities and viral nature.

As noted in a recent survey by analytics platform Kaiko, memecoins outperform the largest cryptocurrency on the market, Bitcoin, and other altcoins.

Disclaimer:

The views and opinions expressed by the author, or any person mentioned in this article, are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.

Source: https://portalcripto.com.br/analista-destaca-inicio-de-ciclo-de-criptomoedas-de-meme/



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