Economist Henrik Zeberg is making some big predictions about the future of memecoins and the entire crypto market.
Zeberg believes that the total market cap for crypto assets could skyrocket by a 141%, potentially reaching around $9 trillion.
Market cap of everything
Right now, we’re sitting at $3.73 trillion market cap for the crypto market, so if his forecast holds true, it’s going to be a wild ride!
According to his charts, Zeberg thinks the crypto market is in a rising wedge pattern and is nearing the end of a five-wave cycle that kicked off back in 2018.
For those not familiar with the Elliott Wave theory, it suggests that prices generally move in five waves up and three waves down.
So, if this theory plays out, we could be in for some serious gains this year. An insane bubble, in Zeberg’s words.
Slices from the pie
Despite some concerns about liquidity being drained from other crypto assets, Zeberg sees potential in the new Official Trump memecoin, and he likens its effect on the market to a beach wave pulling back before crashing back as a tsunami.
“Some memecoins have been crushed recently, but I think they’ve hit major bottoms.”
One memecoin that has him particularly excited is dogwifhat. Earlier this month, he predicted that WIF could soar by 1,238%, potentially hitting between $18 and $19!
“WIF is about to explode higher in larger wave 3.”
Technical indicators, or pure hopium?
Zeberg’s optimism isn’t just wishful thinking, but he backs it up with technical indicators showing that WIF is primed for a breakout.
He points out positive signals like the Relative Strength Index and the Moving Average Convergence Divergence hinting at a bullish trend.
But before you dive headfirst into buying WIF or any other memecoins, remember that the crypto world can be extremely unpredictable.
While Zeberg’s predictions are exciting, they come with risks, especially since memecoins can be incredibly volatile.
