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 entire market cap of crypto property may improve by roughly 141% from the present stage.
“I feel it would attain a dimension of roughly $9 trillion earlier than the highest!
Insane Bubble – however let’s journey it.”
The entire crypto market is at $3.73 trillion at time of writing.
Based mostly on Zeberg’s chart, it seems he’s suggesting that the entire crypto market cap is in a rising wedge sample on the weekly timeframe. It additionally seems that the economist is suggesting that the entire crypto market cap is within the ultimate wave of a five-wave sample that began in 2018.
In accordance with the Elliott Wave idea, 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) might be a blessing in disguise for the market.
“This [TRUMP memecoin] could seem as a foul factor for crypto – however in reality this might be the dynamics which unleashes the total crypto-mania.
Like water on a seashore pulling away – solely to return again as a tsunami.
Some Memes have been crushed the previous couple of days/weeks.
I feel 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 may rally by as much as 1,238% from the present stage.
“WIF is about to blow up increased 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.
Do not Miss a Beat – Subscribe to get electronic mail alerts delivered on to your inbox
Examine Price Action
Observe us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Day by day Hodl should not funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your individual danger, and any losses it’s possible you’ll incur are your duty. The Day by day Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital property, neither is The Day by day Hodl an funding advisor. Please notice that The Day by day Hodl participates in affiliate internet marketing.
Generated Picture: Midjourney
