Economist Henrik Zeberg is outlining the trail ahead for memecoins and the broader crypto market.
Beginning with the broader crypto market, Zeberg tells his 174,400 followers on the social media platform X that the overall market cap of crypto property might improve by roughly 141% from the present degree.
“I believe it’ll attain a measurement of roughly $9 trillion earlier than the highest!
Insane Bubble – however let’s journey it.”
The full crypto market is at $3.73 trillion at time of writing.
Primarily based on Zeberg’s chart, it seems he’s suggesting that the overall crypto market cap is in a rising wedge sample on the weekly time-frame. It additionally seems that the economist is suggesting that the overall crypto market cap is within the closing wave of a five-wave sample that began in 2018.
Based on the Elliott Wave principle, the primary development of the value of an asset strikes in a five-wave sample whereas a correction happens in a three-wave sample.
Turning to memecoins, Zeberg says that regardless of “sucking liquidity” from different crypto property, the official Donald Trump meme Official Trump (TRUMP) could possibly be a blessing in disguise for the market.
“This [TRUMP memecoin] could seem as a nasty factor for crypto – however actually this might be the dynamics which unleashes the total crypto-mania.
Like water on a seaside pulling away – solely to return again as a tsunami.
Some Memes have been crushed the previous few days/weeks.
I believe they put in main and big bottoms.”
One of many memecoins that Zeberg is bullish on is dogwifhat (WIF). Earlier this month, Zeberg predicted that WIF might rally by as much as 1,238% from the present degree.
“WIF is about to blow up greater in bigger wave 3 – in an prolonged transfer which can attain as excessive as 18-19 USD on this subsequent transfer!”
WIF is buying and selling at $1.42 at time of writing.
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