An experienced trader known for precise crypto predictions is cautioning investors about memecoins, suggesting that the sector may have hit its peak popularity.
The pseudonymous trader The Flow Horse informs his Telegram audience that memecoins could begin to decline as another sector of crypto gains prominence.
“Let me emphasize this: nothing in this market – or life, for that matter – is everlasting. Some trends remain in the limelight much longer than others, but the longer something stays in the spotlight, the more people overlook everything else outside of it. That overlooked area, which appears dark and empty, is where opportunity exists. And keep in mind, nature dislikes a vacuum. Memes are an incredible momentum trade, but let’s clarify – they are indeed a consensus trade at this point.”
At the same time, the trader mentions that real-world asset (RWA) project Ondo Finance (ONDO) could start drawing attention from investors searching for options beyond memecoins.
“Referring to my Twitter update, I believe ONDO might be a strong contender. This appears to be a prime position for buyers to regain control. Most altcoins that have moved up significantly display similar patterns. Ondo has experienced a decrease in derivatives open interest, and its unlock schedule is quite favorable with $40,000 of supply released daily. Every time consensus shifts, it creates a surge elsewhere – as one part of the market becomes saturated, another remains underexposed.”
Analyzing his chart, the trader indicates that ONDO is forming a bullish inverse head and shoulders pattern (I-HNS) on the daily timeframe.
Currently, Ondo is priced at $0.73, remaining steady throughout the day.
Don’t Miss a Beat – Subscribe for email alerts straight to your inbox
Check Price Action
Follow us on X, Facebook, and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should conduct their own research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses incurred are your responsibility. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, nor does The Daily Hodl serve as an investment advisor. Note that The Daily Hodl engages in affiliate marketing.
Generated Image: Midjourney
