The meme coin industry has been rather quiet in the last couple of months. However, analysts believe this is just a brief cool-off before the next meme coin supercycle begins.
A meme coin supercycle is a market phenomenon in which several meme coins see exponential growth in a short period of time. This growth results from bullish market sentiment, social media trends, hype, and cultural relevance.
Instead of relying on strong technical and fundamental metrics, meme coins derive their value from community perception. Their ethos is, ‘It doesn’t have to make sense to make you money.’
Previous meme coin supercycles made hundreds of millionaires overnight. In 2021, for instance, Shiba Inu ($SHIB) surged 1,000,000%. That’s a $1M return for every $100.
During the same time, Dogecoin ($DOGE) exploded to $0.70 from just a fraction of a cent, largely due to Elon Musk’s endorsement. A coin that started out as a joke is now the biggest meme coin, with a mind-boggling market cap of $37.73B.
