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 belongings might enhance by roughly 141% from the present degree.
“I feel it’s going to attain a measurement of roughly $9 trillion earlier than the highest!
Insane Bubble – however let’s experience it.”
The entire crypto market is at $3.73 trillion at time of writing.
Primarily based on Zeberg’s chart, it seems he’s suggesting that the entire crypto market cap is in a rising wedge sample on the weekly time-frame. It additionally seems that the economist is suggesting that the entire crypto market cap is within the last wave of a five-wave sample that began in 2018.
Based on the Elliott Wave idea, the principle 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 belongings, the official Donald Trump meme Official Trump (TRUMP) may very well be a blessing in disguise for the market.
“This [TRUMP memecoin] could seem as a foul factor for crypto – however in truth this might be the dynamics which unleashes the complete 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 large 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 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.
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