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Analysts: Prospects of Meme Cryptocurrencies in 2024
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Analysts: Prospects of Meme Cryptocurrencies in 2024

Feb 6, 2024

Experts shared their opinions on what to expect from the meme cryptocurrency market in 2024 in an interview with Crypto.ru. They also expressed their views on the prospects of this asset class and identified important factors influencing their prices.

Alex Reinhardt, the founder of Smart Blockchain, emphasized that meme coins represent a unique niche in the cryptocurrency market. He noted that interest in this asset class increases during periods of relative market calm and is primarily driven by traders' interest. They actively leverage the high volatility of meme cryptocurrencies to maximize their profits.

The specialist emphasized that in addition to periods of relative market calm, prices of meme cryptocurrencies tend to rise during the overall growth of the crypto market. Moreover, the pace of price growth for these assets often exceeds the average market level, providing additional opportunities for traders and investors to increase their profits.

The expert also highlighted that in 2024, two favorable periods are expected for the growth or launch of new meme cryptocurrencies. The first is the period leading up to the Federal Reserve's meeting on the key interest rate in March and the April halving event. The second is the anticipated market growth wave in the second half of 2024.

Alex Reinhardt noted that among the well-established meme cryptocurrencies that continue to be in the spotlight are DOGE, FLOKI, SHIB, and possibly PEPE.

Semen Nazaruk, a representative of Garantex Academy, mentioned that investors enjoy participating in "pumps" of meme coins. He believes that the market will witness many more similar projects and emphasized the importance of assessing activity on social media platforms before launching such tokens. Additionally, it is crucial to evaluate how well the token's idea resonates with people and whether an Airdrop is planned. If developers already have experience in GameFi and NFTs, it can be an additional advantage for the project's success, he added.

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