A widely followed cryptocurrency analyst and trader believes one type of crypto asset is about to implode.
The analyst pseudonymously known as Credible Crypto tells his 391,500 followers on the social media platform X that memecoins could suddenly collapse in value.
“Still a lot of salt in this space despite us being at new all-time high for BTC. Mainly because memes are the ‘only’ alts that have been pumping the last few months. Hearing lots of ‘this cycle is clearly different, it’s a meme supercycle’ etc. and ‘fundamentals don’t matter.’ Lots of people have lost hope on their non-meme alt holdings and the meme reply guys couldn’t be louder.
Three things:
1. We’re going so much higher with this market as a whole.
2. There’s a meme reckoning coming.
3. Other alts will get their turn, in time.”
Next up, the analyst says Bitcoin (BTC) could retest the lower $60,000 range before breaking through the upper trendline resistance.
“And there is ou
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