A well-known crypto strategist is becoming increasingly optimistic about memecoins in the current market cycle, suggesting that retail traders could be the driving force behind their surge. Altcoin Sherpa, an analyst who goes by a pseudonym, has shared his belief with his 215,600 followers on X, a social media platform, that memes have a lot of potential this time around. He states that new retail investors are eager to make quick profits and will join the memecoin frenzy. Altcoin Sherpa advises others to adapt and embrace the trend or risk underperforming.

Altcoin Sherpa goes on to disclose his top memecoin picks, beginning with the major market cap projects. These include Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), Bonk (BONK), and dogwifhat (WIF). He also reveals his preferred mid-cap memecoins, which are Brett (BRETT), Joe Boden (BODEN), Popcat (POPCAT), Coq Inu (COQ), and Myro (MYRO).

Moreover, Altcoin Sherpa predicts that BONK will likely continue to outperform another memecoin based on the Solana blockchain, WIF. He suggests that the attention of investors is currently focused on BONK, leading to a leader/lagger dynamic similar to DOGE/SHIB. Although he expects WIF to perform decently as long as BONK remains strong, he advises investors to go long on the leader, which is BONK.

Altcoin Sherpa believes that BONK is showing strength and anticipates WIF to perform well as long as BTC (Bitcoin) remains stable. However, he advises against buying at the present price level due to previous price action.

In terms of price, BONK is currently trading at $0.00002825, experiencing an increase of nearly 12.5% in the past 24 hours. On the other hand, WIF is trading at $3.20, witnessing a decrease of over 1% for the day.

Disclaimer: The opinions expressed by Altcoin Sherpa are not investment advice. Investors should conduct thorough research before engaging in high-risk investments involving Bitcoin, cryptocurrency, or digital assets. It is important to note that any transfers or trades made are at the investor’s own risk, and any resulting losses are their responsibility. Altcoin Sherpa does not endorse the buying or selling of any cryptocurrencies or digital assets, nor does he serve as an investment advisor. Please be aware that Altcoin Sherpa engages in affiliate marketing.