Former Goldman Sachs analyst Murad Mahmudov predicts the meme coin price surge as the start of a profitable cycle, urging traders to invest despite their volatility.
Cryptocurrencies faced a tough month, causing retail investors to worry about the future, but analysts remain very optimistic. Despite recent market ups and downs, experts believe there will be a comeback, especially for meme coins like Shiba Inu.
“There’s a lot of fear in the market right now,” an analyst said recently. “But historically, these are the times when meme coins tend to surge in value.”
Mahmudov has made major predictions before, and while not all of them were accurate, his latest one might come true, especially since recent market trends seem to support it.
He previously advised crypto investors to focus on meme coins. Many saw this as an exaggeration, considering assets like Bitcoin, Ethereum, Solana, and other major cryptocurrencies also have significant potential.
However, since the meme coin sector hasn’t peaked yet, they might outperform top-ranking cryptos. Recently, Shiba Inu had some of the most dramatic gains in the meme coin sector, with a roughly 15% increase in the last week. This was a refreshing change after the token’s 32% drop in June.
While SHIB hasn’t fully recovered to its earlier levels, it has gained momentum. This is why experts are interested in it and why now might be a good time to invest. Another meme coin that deserves attention in the current market is PlayDoge (PLAY).
The PlayDoge presale is rapidly gaining momentum and is nearing the $6 million mark. Early investors can buy $PLAY tokens at $0.0052 each, with promising growth anticipated.
Analysts with optimistic views on PlayDoge include Matthew Perry, Oscar Ramos, and Jacob Crypto Bury.
PlayDoge is the hottest memecoin on the market, and its presale is already soaring in this struggling market.https://t.co/671BYhmBSq
— Tech Times (@TechTimes_News) July 18, 2024
Additionally, the PlayDoge team has received coverage from various crypto media outlets, suggesting they have secured partnerships or deals with these platforms.
The project’s X and Telegram followings are growing swiftly, with 6k and 10k followers and members, respectively. To reassure investors, PlayDoge has completed a SolidProof security audit and received a high rating.
The tokenomics of $PLAY favor early investors, with 50% of the total 9.4 billion token supply allocated to the presale. An additional 12% is set aside for staking, and 10% is reserved for marketing to keep the coin visible. As both GameFi and meme coins gain popularity, PlayDoge aims to capitalize on its upcoming DEX listing.
PlayDoge is a new and rapidly gaining popularity meme coin. It combines the classic Doge meme, the play-to-earn (P2E) gaming model, and a nostalgic nod to the 1990s virtual pet craze, Tamagotchi.
The project will feature a mobile gaming app where users can care for and interact with their own 8-bit pixel Doge pet. The game includes mini-games and activities aimed at strengthening the bond between users and their virtual pets, while also providing chances to earn rewards for attentive care.
Players earn $PLAY tokens by actively engaging with the game, feeding their Doge, and completing various tasks. The better they take care of their pixelated pet, the more $PLAY tokens they can earn.
The aim is to create a P2E environment where game involvement directly leads to earning crypto rewards. Unlike many other tokens, PlayDoge offers genuine utility.
Holders of $PLAY tokens can stake them on either the BSC or ETH networks. Keep in mind that the annual percentage yields (APYs) differ between these networks, and staking early can yield higher returns as the percentages decrease with more holders.
Given the current demand and expected growth in the meme coin sector, participating in this presale appears to be a smart decision. $PLAY is positioned to outperform other meme coins in the next market rally.
To take part in the $PLAY token presale, visit playdoge.io.
The post Former Goldman Sachs Analyst Predicts New Profitable Cycle for Meme Coins – Shiba Inu and PlayDoge Are Experts’ Top Picks appeared first on ReadWrite.
