- The memecoin super cycle is gaining momentum as market optimism increases.
- Some memecoins are moving away from Bitcoin’s volatility and are poised to lead.
Bitcoin [BTC] almost hit the $64,000 mark in the early hours of Monday, coinciding with a pivotal week for the US economy facts.
This sparked a market-wide rally, with POPCAT and MOG leading the way, rising more than 12% in the past 24 hours.
This was followed by discussions about a possible “memecoin supercycle” – the idea that memes could fuel the next crypto bull market – gained traction on social media.
But does this theory have any substantial value?
THIS could lead the memecoin super cycle
Under the top 10 memecoins by market cap, cat-themed tokens have outperformed their dog-themed counterparts, positioning themselves as the go-to choice for the memecoin super cycle.
POPCAT led the pack with a weekly gain of more than 50%, while MOG lagged behind with a more modest 13% gain.
This trend suggests a possible market shift within the memecoin space, with a select few favoring riskier bets, especially during periods of high volatility.
Simply put, with Bitcoin’s increased sensitivity to macroeconomic factors – which often cause market shocks – the memecoin supercycle is gaining popularity as an alternative, as shown in the chart below.
Source: Coinalyse
POPCAT Initially following the bullish wave of Bitcoin’s September rally, Bitcoin recorded significantly higher daily gains, especially during the mid-cycle.
Even when Bitcoin peaked at nearly $65,000 on September 28 and saw a correction, POPCAT held its range for five consecutive days despite the market volatility.
A similar pattern is now occurring. While Bitcoin is once again in the mid-$63,000s Busy in the derivatives market, POPCAT makes significant daily profits, in double digits.
Moreover, trading volume increased by more than 130% from the previous day to $188 million, while the market capitalization increased by 14% to $1.3 billion.
If this trend continues, POPCAT could lead a memecoin supercycle, provided it remains independent of Bitcoin’s volatility and then successfully tests the $2 mark.
There are many factors underlying traction
Interest in POPCAT has soared over the past week, fueled by intense accumulation among stakeholders.
October started with wallet holders withdrawing an impressive 5.33 million POPCAT tokens, a notable jump from just 1.73 million the day before.
Source: Coinglass
This supports our hypothesis that POPCAT could lead the next memecoin supercycle, as more capital shifts away from tokens that are considered overpriced and less attractive to retail investors.
In addition to POPCAT, numerous other memecoins have outperformed Bitcoin over the past cycle SPX6900 alone by more than 200% in just seven days.
Is your portfolio green? Check out the POPCAT profit calculator
This indicates that a memecoin supercycle will emerge by the end of this quarter, driven by robust trading volumes, passionate communities, and increasing divergence from Bitcoin.
Together, the collision of these factors could create the momentum needed for a few select memecoins to significantly outperform Bitcoin by 2025.