A renowned crypto strategist is expressing great optimism about memecoins in the current market cycle. Altcoin Sherpa, an analyst known for his insights, has shared his thoughts with his substantial following of 215,600 on the social media platform X. He believes that retail traders could have a significant impact on the soaring success of memecoins. Altcoin Sherpa states, “I have high confidence in memes in this cycle for various reasons. The new wave of retail traders is eager to make quick profits, and they will join us in the cryptocurrency market. Those who fail to adapt will simply underperform.”

Altcoin Sherpa also discloses his top picks for memecoins, starting with projects that have a large market capitalization. These include Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), Bonk (BONK), and dogwifhat (WIF). Moving on to mid-cap memecoins, the analyst recommends Brett (BRETT), Joe Boden (BODEN), Popcat (POPCAT), Coq Inu (COQ), and Myro (MYRO).

Additionally, Altcoin Sherpa predicts that BONK will continue to outperform another Solana-based memecoin, WIF. He explains, “WIF: Bonk and WIF take turns leading as the Solana meme leader. Currently, most of the attention is on BONK, and I anticipate a similar leader/lagger relationship as we see with DOGE/SHIB. As long as BONK remains strong, I expect WIF to perform decently. However, it is probably wiser to go long on the leader, which is BONK. BONK appears to be in a strong position, and I expect WIF to also perform well as long as BTC remains stable. That being said, I would not recommend buying WIF at its current price due to its previous price action.”

At the time of writing, BONK is trading at $0.00002825, experiencing an increase of nearly 12.5% in the last 24 hours. On the other hand, WIF is trading at $3.20, reflecting a decrease of over 1% for the day.

In conclusion, Altcoin Sherpa’s positive outlook on memecoins and his expert recommendations have garnered attention in the crypto community. It is important for investors to conduct their own research and exercise caution when making high-risk investments in Bitcoin, cryptocurrency, or digital assets.