Connect with us

Hi, what are you looking for?

Oracle of  Omaha SaysOracle of  Omaha Says


The “Weirdest” Bitcoin Bull Market: The Rise of Memecoins

The “Weirdest” Bitcoin Bull Market: The Rise of Memecoins

Quick Look:

This Bitcoin bull market is marked by a direct leap from Bitcoin to memecoins.
Traditional liquidity flow from Bitcoin to altcoins has been bypassed.
Memecoins’ appeal lies in their high-risk, high-return potential.
The MEME token showed a significant surge, followed by a notable pullback.
A bullish breakout in MEME price indicates a potential continuation of the bull run.

The current trajectory of the Bitcoin halving cycle has been dubbed the “weirdest” bull market on record by crypto industry analysts. This assertion comes in the wake of a premature Bitcoin all-time high of $64,954 and an unprecedented rush into memecoins, marking a significant deviation from traditional cryptocurrency market patterns.

An Unprecedented Shift

Zach Rynes, the Chainlink community liaison known as “ChainLinkGod,” recently commented on the unusual nature of this bull market to his 171,000 followers on X. Traditionally, liquidity would cascade from Bitcoin into Ethereum and other high-capitalization coins before trickling down to smaller altcoins. However, this cycle has seen a direct leap from Bitcoin to memecoins, bypassing the steps observed in previous cycles. This shift indicates a transformation in investor behaviour and market dynamics, emphasising a preference for the potential high returns associated with memecoins despite their higher risk.

The Memecoin Phenomenon

With Bitcoin’s retracement to the $65K threshold, the spotlight has turned towards memecoins. However, a market-wide sell-off led to a sharp decline in many top memecoin prices, suggesting a bearish outlook. Amid this volatility, the MEME token presents a potential reversal opportunity. Following a 139% surge in just 25 days to $0.05319 by March 4th, the MEME token experienced a significant pullback, dropping 37% to $0.03329.

This pullback resulted in a bearish pattern on the daily chart, indicating a contraction in trend momentum. Nonetheless, a recent bounce back from $0.03329 has initiated a bullish breakout from this pattern. With an 18% increase in the last three days and the MEME price trading at $0.04365, the market’s released momentum suggests a potential continuation of the bull run. Sideline traders might see this as an opportune moment for entry.

Future Outlook for Memecoins

The recent recovery in the MEME token price could soon challenge the psychological barrier of $0.050, a pivotal stage for the token. The rising trend momentum and breakout event increase the likelihood of surpassing this threshold.

Should the bullish break materialise, the uptrend might extend to the 1.618% Fibonacci level at $0.08445. Although resistance at $0.06491 could pose challenges.

This unconventional bull market is marked by a direct flow from Bitcoin to memecoins. It underscores a significant shift in the cryptocurrency landscape. Furthermore, investors’ readiness to embrace the high-risk, high-reward nature of memecoins shows a quest for alternative investment avenues. These avenues lie outside the traditional cryptocurrency market hierarchy. Moreover, as the market evolves, the dynamics of this “weirdest” bull cycle provide valuable insights. They shed light on changing investor sentiments. Additionally, they highlight the potential for memecoins to influence future market trends.

The post The “Weirdest” Bitcoin Bull Market: The Rise of Memecoins appeared first on FinanceBrokerage.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Latest News

    A former Republican legislative candidate who traveled to Washington for former President Donald Trump’s ‘Stop the Steal’ rally was arrested Friday and charged with...


    Even as U.S. inflation broadly cools, frozen vegetable prices are hot. The average shelf price for frozen veggies rose by 18% in the past year...

    Latest News

    Abbe Lowell, Hunter Biden’s attorney, filed an ethics complaint Friday against Georgia Rep. Marjorie Taylor Green after she displayed censured nude photos of the president’s...

    Latest News

    President Biden has overruled the Pentagon and chosen Adm. Lisa Franchetti to lead the Navy, making her the first woman, if she’s confirmed, to...

    Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024