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Renowned analyst and trader The Flow Horse has cautioned traders about the future of memecoins in the cryptocurrency market, suggesting that their popularity may have peaked.
Temporary Surge of Memecoins
The Flow Horse stated, “Nothing in the markets is permanent,” highlighting the current significant interest in memecoins but expressing uncertainty about the duration of this interest. While acknowledging that memecoins are strong in momentum trading, he pointed out that an increasing number of individuals are gravitating towards this sector.
The analyst indicated that the popularity of memecoins could decline, noting a growing interest in alternative projects. Among these, Ondo Finance (ONDO), which focuses on real-world assets (RWA), is drawing particular attention. The Flow Horse emphasized that “investors may want to turn to alternative projects. Ondo is a project where buyers can regain control.”
Technical Analysis and Expectations
According to the analyst, ONDO’s daily chart is signaling bullish trends. The formation of a bullish inverse head and shoulders pattern could indicate potential price increases in the future. ONDO’s stable price of $0.73 supports this potential.
The Flow Horse observed that memecoins have transitioned into consensus trading and that the market may have reached saturation. He mentioned that this scenario could increase interest in other projects, as the market does not accept gaps, which can pave the way for new opportunities.
Ultimately, while the future of memecoins remains uncertain, projects like Ondo Finance may see an increase in popularity. This situation could lead to the emergence of new trends in the crypto market. Diversifying their strategies may enable traders to manage market conditions more effectively.
