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Beyond Doge: Memecoins Gain Legitimacy as Crypto Market Eyes New Highs

Published 06/10/2024, 09:00 PM
Updated 06/10/2024, 09:45 PM
Beyond Doge: Memecoins Gain Legitimacy as Crypto Market Eyes New Highs

  • Crypto analysts predict a surge in investments due to economic downturns.
  • Analysts say now is a good time to buy as prices may be near bottom.
  • Memecoins seen as easy-to-understand & culturally relevant despite lacking utility.

Crypto analysts Raoul Pal and Arthur Hayes predict the crypto market is nearing a “Banana Zone”, a period where fallout from macro events triggers an influx of liquidity into alternative investments like cryptocurrencies.

During a Coin Bureau discussion, Pal explained that the crypto market surges when established institutions, such as central banks, adjust their positions and governments use various methods to influence public opinion.

Pal, CEO of GMI, believes the crypto market is currently near its historical low point, presenting a buying opportunity for investors seeking tokens at discounted price…

The post Beyond Doge: Memecoins Gain Legitimacy as Crypto Market Eyes New Highs appeared first on Coin Edition.

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