In the dynamic cryptocurrency market, two segments saw remarkable activity post-March: meme coins and projects on the TON network distributing tokens through gaming bots. Although the peak came in March, a meme coin introduced eight months ago, TRUMP Coin, has captured significant market interest, reaching a high of $17. A prominent market analyst recently emphasized its potential.
Will TRUMP Coin Continue to Rise?
Renowned analyst Altcoin Sherpa shared insights on social media platform X, predicting a bullish future for the Donald Trump-themed MAGA (TRUMP) coin despite recent price corrections. He noted that the coin had pulled back to a 0.50 Fibonacci level, viewing this as a buying opportunity. Sherpa believes the cryptocurrency will gain more attention as the election approaches, driving its value up.
Sherpa’s projections suggest that TRUMP Coin could hit $18 by late June or early July. After Donald Trump declared himself the president of cryptocurrencies, the coin surged to $12.75, marking a 9% increase in just 24 hours. Since October 7, when TRUMP Coin was priced at $0.0199, it has seen a staggering 61,759% growth.
What are the Prospects for NOT Coin?
The analyst also discussed Notcoin (NOT), a noteworthy project in recent months, indicating it has reached a peak consolidation phase. Initially skeptical, Sherpa revised his stance, noting the reduced volatility and more stable price movement. NOT has experienced a 300% increase from $0.00527 on May 26 but has since settled at $0.0185 following a 12% decline.
Investment Insights
Here are some actionable insights for investors based on the analysis:
- Consider accumulating TRUMP Coin before the election season for potential gains.
- Monitor NOT Coin for signs of further stability before making investment decisions.
- Prepare to accumulate meme coins in anticipation of Bitcoin‘s dominance dropping in Q4 2024.
Altcoin Sherpa advises investors to accumulate various meme coins leading up to the fourth quarter of 2024. He predicts a decrease in Bitcoin’s dominance, which could shift attention to alternative cryptocurrencies. This period could present strategic opportunities for investors to diversify their portfolios.