TL;DR
Certain memes, including SPX and MOG, may thrive in the near future due to their “stubborn” investors.
Shiba Inu (SHIB) – an asset which also has a solid community – could see a 145% price surge soon due to breaking an important resistance level.
The Potential Factor
Meme coins are highly volatile and can be among the top performers during a bull cycle, registering double and even triple-digit daily price increases. The popular X user Murad focused on five particular tokens of that type that may take center stage soon: SPX6900 (SPX), Gigachad (GIGA), Apu Apustaja (APU), Mog Coin (MOG), and HarryPotterObamaSonic10Inu (BITCOIN).
The analyst believes the aforementioned assets have “delusional, stubborn, and relentless” holders, which can be of utter importance for future price growth.
Murad claimed this is the exact reason why well-known cryptocurrencies such as Bitcoin (BTC), Ripple (XRP), Dogecoin (DOGE), Cardano (ADA), and Chainlink (LINK) have witnessed substantial gains in the past.
It is worth noting that many of the depicted meme coins have already rallied significantly. The cat-themed MOG, for example, is currently worth $0.000001961 (per CoinGecko’s data), representing a staggering 3,300% spike on a yearly scale.
For its part, SPX hit a new all-time high of $0.97 on October 29. As of the moment, it is hovering at around $0.87, meaning a 3,600% increase in the past 12 months.
How About SHIB?
Speaking of “stubborn” holders, one should mention Shiba Inu (SHIB). The second-largest meme coin is considered to have one of the strongest and most devoted communities (comprised of investors, proponents, and developers).
Several crypto analysts think SHIB is ready for a price explosion. One example is the X user, The Don of Apes, who claimed its valuation has successfully broken a diagonal resistance level to the upside. Based on this, the trader expects a parabolic 145% spike to $0.00004539 in the following months.
Meanwhile, the meme coin’s price is well in the green today (October 30), with some on-chain metrics indicating a further surge in the short term. According to CryptoQuant, the SHIB supply stored on cryptocurrency exchanges is now at a three-year low. This could indicate a major shift from centralized platforms toward self-custody methods, which reduces the immediate selling pressure.
The post Here’s Why These 5 Meme Coins Might ‘Do Extremely Well’ This Bull Cycle (Analyst) appeared first on CryptoPotato.
