Memecoins Brunt the Impact of the Recent Crypto Crash the Hardest

Major memecoins like POPCAT and WIF lost over 41% on the weekly timeframe while BOME lost 36% in the same time. More established coins like DOGE and SHIB suffered fewer losses.

Memecoins suffered some of the steepest losses during the recent crypto market crash.

Major memecoins like POPCAT and WIF lost over 41% on the weekly timeframe, while BOME lost 36% during the same period.

More established memecoins like DOGE and SHIB experienced smaller losses, at 23% and 17% respectively.

With the original memecoin, Dogecoin, slipping below the 10-cent mark for the first time since February, the question on everyone’s mind is: should you go all-in on memecoins now, expecting 10x or greater gains?

Well, this is not investment advice, but maybe it’s not the best decision to ape all into memecoins, at least that’s what Ran Neuner had to say about the matter.

If you're buying memecoins in this dip, you're doing it all wrong…

So, what can you do? According to Miles Deutscher, you should observe and take note. He says, monitor coins “which are recovering the strongest on this bounce”, including their distance from recent highs (not necessarily all-time highs), as these could be the strongest performers in the event of another retrace.

Bit of alpha for you. Monitor the coins which are recovering the strongest on this bounce.

These will be the best altcoins to long if we get another retrace.

$SOL, $ONDO, $TIA, $ZRO, $TAO just to name a few.

Deutscher also says successful investing hinges on three key principles: strong fundamental belief in the asset you’re investing in, defined criteria for initiating a position, and specific conditions for when to exit, which is “essential for effective risk management”.

Fellow analyst Michaël van de Poppe adds that he believes especially the DeFi narrative will outperform most crypto assets. Van de Poppe has several well-known assets on his shopping list, such as ETH, AAVE, TIA, TAO and a few more.

In terms of what I expect from the #Altcoins.

Some have showed some incredible momentum.

I think everything surrounding DeFi $ETH is going to be doing strong – $AAVE, $RPL, $MKR, $COMP, but also things like $TAO, $TIA, $OP or newer coins like $W, $OMNI & $REZ will do well.

Neuner predicts rate cuts but no US market meltdown

Back to the Crypto Banter host, Neuner says the worst of the market downturn appears to have passed, particularly for the Nikkei, despite the significant drop.

According to Neuner, the US market will stabilise somewhat, with the Nasdaq closing better than a 2.5% drop.

Despite the volatility, and despite some calls for an emergency Fed meeting, he says there will not be one. Neuner adds a rate cut will come in September, though it will not be as substantial as 50 basis points.

Here are some predictions:

1. The worst is over. Specifically for the Nikkei. By that i mean that markets could still go down but today was the biggest candle down.

2. US market won't melt down- the close will be better than -2.5% for the day on the Nasdaq.

3. There is no FED emergency meeting.

4. A rate cut is coming in September, but it won't be 50bps.