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Cryptocurrency analisdollarseries notes a capital rotation from major cryptocurrencies to meme coin projects as the market overheats. The top three cryptocurrencies by market cap are on the decline as meme coins grab the attention of individual traders. Cryptocoin. com we have compiled the analyzes of the experts. Here are the reasons for the rotation…

Meme coin fiadollaryellow offers double-digit gains as BTC rally cools

A recent study conducted in 22 countries by an Australian crypto research agency revealed that there are more Dogecoin holders in the US than Bitcoin and Ethereum. The survey results show that the adoption of Dogecoin among investors and traders in the US is almost double the global average. However, the interest in meme coins is not new. Historically, when capital comes out of mainstream cryptocurrencies with large market capitalizations (Bitcoin, Ethereum, and high-volume altcoins), the meme flows into coins, signaling a cooling off period for the ongoing bull run.

On this subject, crypto analyst and st. Alex Kruger says:

Shiba’s success tells you three things: 1-) With hard work and perseverance anything is possible 2-) People love dogs and memes 3-) Money chases anything that moves.

https://twitter. com/krugermacro/status/1453409241130221580

Dylan LeClair shares his concerns

Dylan LeClair, co-founder of 21stParadigm, criticized traders attending meme coin rallies in a recent tweet and shared their concerns:

Coinbase is constantly pushing me to add Shiba Inu on certain apps/platforms. I can only imagine how many people would end up holding worthless meme coins because of targeted ads/marketing at the end of this. What a joke. Sad.

https://twitter. com/DylanLeClair_/status/1453187608360722436

Shiba Inu owners exceed 800,000 overnight

In its massive rally, SHIB distributed over 30,000 new wallets in a single day. Fueled by the DOGE and SHIB competition that began with the launch of the Shiba Inu in August 2020, more investors turned to dog coins. A mysterious address bought $3,400 worth of SHIB (in exchange for wrapped Ethereum WETH) when the meme coin was released, with over $1.55 billion in SHIB investment. Wallet continued to buy SHIB several times; The $3,400 purchase was the largest, and the total wallet is now worth $5.63 billion.

It remains to be seen whether this whale decides to sell its holdings and whether the SHIB markets have sufficient liquidity to absorb the sale of this volume.

Meme coin rotation may be signaling the end of the bull season!

Less popular dog-themed cryptocurrencies FLOKI and SAMO have posted triple-digit gains of 125% and 113%, respectively, over the past 24 hours. Twitter analyst, nicknamed LilMoonLambo, predicted that BTC’s top of the year was approaching. The analyst sees a meme coin rally as an indication that the Bitcoin bull run is over.

Enjoy the peak BTC price of the year. Ditch everything and enjoy the rest of the year. bull run is over

https://twitter. com/LilMoonLambo/status/1453160996768526337


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