- Miles Deutscher revealed that he is bullish on DOGE, SHIB, PEPE and FLOKI in a recent analysis.
- According to Deutscher, PEPE may be the top performing meme coin in the next few months.
- SHIB’s push to become an ecosystem could give investors a lot to look forward to, predicted the analyst.
Miles Deutscher from Crypto Banter shared which meme coins he is bullish on in a YouTube video uploaded in the past 24 hours. In the analysis, he revealed that he is bullish on Shiba Inu (SHIB), FLOKI, Pepe (PEPE) and Dogecoin (DOGE). He also ranked the meme coins based on their potential gains in the coming few months.
In his analysis, Deutscher ranked PEPE as the meme coin to watch, while DOGE occupied the number 2 position on the list. Lastly, FLOKI and SHIB were tied at 3rd. The reason he is so bullish on PEPE is because he believes the project’s team timed their entry into the market perfectly. In addition to this, the analyst noted that the meme coin has a strong community.
Although PEPE came out of nowhere and saw its price pump significantly, according to Deutscher, a telling sign of the project’s potential is how holders reacted when the cryptocurrency’s price dropped. The analyst highlighted that PEPE still had 100K holders despite the large selloff after its first major rally.
Meanwhile, the largest meme coin by market cap, DOGE, has to overcome a lot of sell pressure, noted Deutscher. This is because many of its current holders had purchased the meme coin when its price was trading significantly higher. As a result, any increase by DOGE may be seen as an opportunity to minimize the realized losses by these investors.
When it comes to FLOKI, the meme coin performed well in the previous bull run due to its strong marketing campaign and community. Although Deutscher is bullish on the cryptocurrency, he does not believe that it will replicate the impressive performance it had in the previous bull cycle. Nevertheless, Elon Musk’s dog is named after the meme coin.
Therefore, the analyst predicted that FLOKI’s price will pump every time Musk posts a picture of him and his dog on social media. SHIB investors, on the other hand, have much more to look forward to given the fact that the project intends on becoming more than a meme coin, by building its own ecosystem.
Although the SHIB team is adding more utility to the project by building a metaverse and a Layer-2 blockchain, Deutscher does not forecast that it will be the best performing meme coin. The sole motivation behind this is the fact that SHIB is ranked so high in terms of market cap, added the analyst.
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