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 whole market cap of crypto property might enhance by roughly 141% from the present stage.
“I feel it is going to attain a dimension of roughly $9 trillion earlier than the highest!
Insane Bubble – however let’s trip it.”
The overall crypto market is at $3.73 trillion at time of writing.
Primarily based on Zeberg’s chart, it seems he’s suggesting that the whole crypto market cap is in a rising wedge sample on the weekly time-frame. It additionally seems that the economist is suggesting that the whole crypto market cap is within the remaining wave of a five-wave sample that began in 2018.
In keeping with the Elliott Wave idea, the primary pattern of the worth 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 appear as a nasty factor for crypto – however in reality 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 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 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.
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