As the memecoin niche has shown a correction in the last 24 hours, many traders are in a panic. Especially, some of the coins Murad has suggested are also in a downtrend, and traders are now showing scepticism towards his portfolio suggestion and his memecoin supercycle theory.
Is it true that Murad’s memecoins are bleeding? Will this downtrend continue? This article will go through the top 10 meme coins suggested by Murad, get into their present market scenario, and try to establish an answer. Let’s start.
Who is Murad?
Murad is one of the popular KOLs (Key Opinion Leaders) in the crypto environment, and he became famous after his remarkable speech about the Memecoin Supercycle at the TOKEN2049 conference in Singapore.
Murad has been a Bitcoin maximalist since 2017. He is also famous for predicting that Bitcoin will reach 10 million dollars a coin in future. His recent analyses are related to the meme coin frenzy, and he pointed out that all established meme coins have cult-like qualities.
What is Memecoin Supercycle?
Proposed by Murad, the memecoin supercycle refers to an unending cycle of memecoins and the factors influencing these movements. Unlike other coins, the memecoin supercycle depends on community support, emotional factors, and the cult-like qualities of the narrative.
Murad’s supercycle theory emphasizes the irrational and hormonal shifts of the memecoin collective rather than the logical trade. Since the memecoin market depends on the delusion of investors rather than the real use cases, the early investors always benefit. However, Murad sees this in a positive light.
According to Murad, the current market movements are indicating the beginning of a supercycle, and he listed out some coins that will benefit the most. He expects a $1 trillion market cap for the memecoin niche at the peak of the supercycle and the coins he listed are forecasted to reach at least 1 billion dollars in the capitalization.
Murad’s Top 10 List of Potential Meme Coins
The list with the updated market cap was posted by Murad on his Twitter account on October 13, 2024. The market cap has not changed here to today’s, however, we will discuss the list in detail, with the current market situation in the below section.
| Token | Ticker | Current Market Cap | Murad’s Long-Term Target |
|---|---|---|---|
| SPX6900 | $SPX | $757 Million | $100 Billion |
| GigaChad | $GIGA | $488 Million | $50 Billion |
| Mog Coin | $MOG | $714 Million | $32 Billion |
| Apu Apustaja | $APU | $268 Million | $30 Billion |
| Popcat | $POPCAT | $1.48 Billion | $25 Billion |
| HarryPotterObamaSonic10Inu | $BITCOIN | $278 Million | $20 Billion |
| Retardio | $RETARDIO | $138 Million | $19 Billion |
| Lock In | $LOCKIN | $57 Million | $3 Billion |
| Mini | $MINI | $57 Million | $2 Billion |
| American Coin | $USA | $38 Million | $1.776 Billion |
Murad’s Memecoins: The Current Situation
- SPX6900 ($SPX): Murad has been promoting this meme coin for a long and he could be one of the reasons for its recent spectacular surge. The past 30 days show a 1524.61% increase in its price and in the past 24 hours alone it gained an additional 6.27%.
- Gigachad ($GIGA): This coin is also performing extremely well with a gain of around 195.57% in the past 30 days. The 24-hour rise is around 2.91% and the market cap has increased to $567 million.
- Mog Coin ($MOG): The coin has gained 62.49% in the last 30 days, however, it had a decline of 6.81% in the past 24 hours. This resistance level is considered by many traders as a perfect dip.
- Apu Apustaja: The coin is 7% down today, however, it has gained around 294% this month. It is also promising in the charts.
- Popcat: Popcat is surging with a 15.57% increase today, and it managed to rise around 77.46% past month. This is one of the coins that have had a better uptrend in the past two days.
- HarryPotterObamaSonic10Inu: With a 192.42% increase in the past 30 days, it is also gradually increasing its market cap. The ticker named $BITCOIN is also helping it. Around 1.60% rise can be observed today.
- Retardio: Despite an increase of 143.14% this month, the coin is in a downtrend, and has lost around 19.69% this week. The last 24 hours chart shows that it is down by 4.87%.
- Lock In: It had an incredible growth of 246.1% within the last 30 days, and around a 4.8% rise can be seen in the past 24 hours chart. It is also doing well.
- Mini: Last day, the Mini coin showed a 6.45% increase in its market cap, and it had an amazing growth of 154.25% last 30 days.
- American Coin: American Coin is the top bleeding currency in Murad’s list. Despite the gain of around 402.47% this month, the coin lost almost 15.65% of its cap last day.
Conclusion
Despite a small correction throughout the last two days, Murad’s coins are in fact doing well. Only the coins like American Coin had shown serious correction. Most of the other coins are still in the uptrend, and the expression bleeding won’t suit them.
The memecoin supercycle theory of Murad should be considered seriously, as it has happened to various meme coins in history, however, it is good to be sceptical about the positive nature of the memecoin supercycle.
Traders are looking at this downtrend for buying more coins as it is a perfect dip for them. However, trading memecoins is such a risky business, and it is important to plan a perfect exit strategy, otherwise your portfolio earnings will collapse. DYOR!
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