Crypto analyst Murad, a prominent voice on X platform, predicts that memecoins could outperform other cryptocurrencies in the next bull market, citing potential returns of 100x to 500x. He compares this potential surge to the historical performance of established altcoins like Cardano (ADA), XRP, and Chainlink (LINK).
The next $ADA $XRP $LINK type die-hard cult community early projects that end up going on 100-500x runs that you have been looking for since 2017 will be found in Memecoin land this time around
— Murad (@MustStopMurad) June 27, 2024
Notably, the altcoins Murad mentioned experienced significant rallies during past bull runs while still in their early developmental stages with relatively low market caps. ADA’s initial surge began in late 2017, with the then-new altcoin surging over 2,000% within two months. ADA later rallied over 5,000% within ten months, starting in November 2020.
XRP experienced a similar trajectory in 2017, surging over 30,000% within ten months, fueled by a devoted community. Like ADA, XRP lost its gains before rallying again during the 2021 bull run, gaining over 860% within six months.
Meanwhile, LINK recorded its most significant move between 2020 and 2021. The Chainlink native crypto gained over 3,800% over 20 months, marking its main bullish movement since its inception.
It’s important to note that these altcoins experienced such rallies with relatively low market caps, a factor they no longer possess due to increased adoption. Most new memecoins share this characteristic of low market caps and are designed for speculation, which may explain their potential to perform as Murad predicts.
While Murad’s prediction highlights the speculative nature of memecoins and their potential for explosive growth, investors should exercise caution. Whether memecoins will indeed deliver the astronomical returns predicted remains to be seen, but their potential to disrupt the crypto landscape in the next bull run is undeniable.
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