Miles Deutscher – THIS Happens NEXT For Meme Coins! (26.04.2024 Summary)

Miles Deutscher – THIS Happens NEXT For Meme Coins! (26.04.2024 Summary)

According to Miles, meme coins have been the strongest performing sector in the crypto market so far in 2024, with many experiencing massive gains of 10x, 50x, or even 100x.

He believes that meme coins will continue to be one of, if not the top, performing verticals in this crypto cycle. Here are some key points and opinions from Miles regarding meme coins:

  • Meme coins have solidified themselves in the collective mindshare of not just retail investors but also crypto Twitter, funds, and VCs. There is a real, lasting value being placed on memes, which are developing into their own asset class.

  • The appeal of meme coins lies in their connection to online culture and memes, which are deeply rooted in internet culture and social media. Meme coins also tap into humans’ innate need for tribalism and belonging.

  • Meme coins offer a form of gambling and speculation, appealing to people’s desire for a potential life-changing payout. This is especially attractive in times of economic uncertainty and desperation.

  • Traditionally, smart money avoided meme coins, but there has been a paradigm shift where VCs and hedge funds are now allocating a portion of their portfolios to meme coins.

  • Miles suggests that now may be a good time to start accumulating leading meme coins like Wif (dog meme), Popcat (cat meme), Bonk (another dog meme), and Foxy (the main meme coin on Linear). However, he advises against chasing lower-cap memes that have already crashed heavily.

  • He recommends closely watching metrics like transaction activity and bridging volume on the main “meme chains” like Solana and Base, as an uptick signals a return of risk appetite and liquidity, which is the ideal time to go aggressive on meme coins.

Overall, Miles believes that meme coins will be one of the strongest performers this bull run, and he advises maximizing this opportunity by being tactical in timing entries and exits.