Crypto Banter Signals
# Memecoin Research Methodology
Part 1: How to understand if a memecoin is good?
Crypto has been around for over a decade. During this time, every bull run brings with it new narratives into the space. In 2017, it was ICOs. In 2021, it was DeFi, GameFi and NFTs. So, what could be next for 2024’s bull run? One potentially strong narrative would be memecoins.
### Why Memecoins?
Inherently, memecoins have little to no utility or value-add to the crypto space. They’re full of scams and they don’t really solve any problems. So why are they gaining so much popularity now?
Well, the short answer is:
- Memecoins are led by community. Rather than trusting utility coins with VCs that dump their investments on retail, investors now trust memecoin communities more.
- Costs of trading are little to none with low cost Layer 1 (L1) and Layer 2 (L2) chains like Solana and Arbitrum respectively.
- Celebrity endorsements and memes engage the audience better, in turn pushing the popularity of memecoins to greater heights.
So, now you understand why memecoins are the space to get into right now. But, how do we know which memecoins are good, and which are bad (or even outright scams)? To understand this, let us show you a few simple steps below to sieve out the gems.
To read more, join the Confidential Circle.
# Memecoin Research Methodology
Part 1: How to understand if a memecoin is good?
Crypto has been around for over a decade. During this time, every bull run brings with it new narratives into the space. In 2017, it was ICOs. In 2021, it was DeFi, GameFi and NFTs. So, what could be next for 2024’s bull run? One potentially strong narrative would be memecoins.
### Why Memecoins?
Inherently, memecoins have little to no utility or value-add to the crypto space. They’re full of scams and they don’t really solve any problems. So why are they gaining so much popularity now?
Well, the short answer is:
- Memecoins are led by community. Rather than trusting utility coins with VCs that dump their investments on retail, investors now trust memecoin communities more.
- Costs of trading are little to none with low cost Layer 1 (L1) and Layer 2 (L2) chains like Solana and Arbitrum respectively.
- Celebrity endorsements and memes engage the audience better, in turn pushing the popularity of memecoins to greater heights.
So, now you understand why memecoins are the space to get into right now. But, how do we know which memecoins are good, and which are bad (or even outright scams)? To understand this, let us show you a few simple steps below to sieve out the gems.
To read more, join the Confidential Circle.
Crypto Banter Signals
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Crypto Banter Signals
COIN: The price is now in the blue target zone for wave c of (A), but if wave (A) is a 5-wave move (as shown in blue) we should see one more 4-5 pattern. Micro support for upside trend continuation in case of a (B)-wave pullback is currently located between $160.34 and $189.46. However, there is no sign that wave (A) is complete. Coinbase are reporting earnings in 10 days.
COIN: The price is now in the blue target zone for wave c of (A), but if wave (A) is a 5-wave move (as shown in blue) we should see one more 4-5 pattern. Micro support for upside trend continuation in case of a (B)-wave pullback is currently located between $160.34 and $189.46. However, there is no sign that wave (A) is complete. Coinbase are reporting earnings in 10 days.
Crypto Banter Signals
LINK: The price is now in the resistance zone for a (B)-wave as per the yellow scenario. However, there is at the moment no signal that a price top has formed. The question is if LINK can form 5 waves to the upside before Bitcoin shows the first decent pullback. Technically speaking a break above the September high could be interpreted as first 5-wave move to the upside but it would be a weak diagonal pattern. However, if the blue scenario is being followed, the price must not break above $14.70, or wave (3) would be the shortest wave, which makes a 5-wave pattern invalid.
LINK: The price is now in the resistance zone for a (B)-wave as per the yellow scenario. However, there is at the moment no signal that a price top has formed. The question is if LINK can form 5 waves to the upside before Bitcoin shows the first decent pullback. Technically speaking a break above the September high could be interpreted as first 5-wave move to the upside but it would be a weak diagonal pattern. However, if the blue scenario is being followed, the price must not break above $14.70, or wave (3) would be the shortest wave, which makes a 5-wave pattern invalid.
Crypto Banter Signals
ETH: The price has invalidated the triangle pattern but this does not change the potential for a B-wave rally. I have slightly adjusted the next upside fibonacci levels to watch. $2,886 is the 100% extension level of yellow wave (w), which is an ideal target for wave (y). It takes a break below $2,630 for an early indication that the price has formed a top.
ETH: The price has invalidated the triangle pattern but this does not change the potential for a B-wave rally. I have slightly adjusted the next upside fibonacci levels to watch. $2,886 is the 100% extension level of yellow wave (w), which is an ideal target for wave (y). It takes a break below $2,630 for an early indication that the price has formed a top.
Crypto Banter Signals
BTC: The price is starting to reach for the $70,000 zone and the internal third wave could be nearly complete as per the micro structure. I would still like to see the price stretch towards $73,500 - $74,500 to complete the larger third wave. The price now ideally stays above $68,050. A break below this level could be a very early signal that a price top has formed.
BTC: The price is starting to reach for the $70,000 zone and the internal third wave could be nearly complete as per the micro structure. I would still like to see the price stretch towards $73,500 - $74,500 to complete the larger third wave. The price now ideally stays above $68,050. A break below this level could be a very early signal that a price top has formed.
Crypto Banter Signals
Our recent article on how to identify the memecoin early is out on the Confidential Circle. Join "the Confidential Circle" to read the complete article.
Our recent article on how to identify the memecoin early is out on the Confidential Circle. Join "the Confidential Circle" to read the complete article.
Crypto Banter Signals
SUI: The price is still caught in corrective structures within the messiness of a B-wave / wave 4. Local support is still located between $1.328 and $1.522 and until the price breaks below support I am going to watch for higher prices, but the correction might extend a bit more until wave 5 to the upside starts.
SUI: The price is still caught in corrective structures within the messiness of a B-wave / wave 4. Local support is still located between $1.328 and $1.522 and until the price breaks below support I am going to watch for higher prices, but the correction might extend a bit more until wave 5 to the upside starts.
Crypto Banter Signals
SUPER: The rally from the August low looks more like a B-wave to me, but if the price can find support in the area between $0.859 and $0.498 then wave 3 in yellow to the upside could start. It might be worth watching for a first micro 5-wave move to the upside, however, once the price reaches the support zone. This would act as initial confirmation that yellow wave 2 is complete.
SUPER: The rally from the August low looks more like a B-wave to me, but if the price can find support in the area between $0.859 and $0.498 then wave 3 in yellow to the upside could start. It might be worth watching for a first micro 5-wave move to the upside, however, once the price reaches the support zone. This would act as initial confirmation that yellow wave 2 is complete.
Crypto Banter Signals
POL: The price reacted to the micro resistance level and then broke below the invalidation point for a larger wave b, which led to a rapid decline in wave 3 of (c) of circle wave 3 to the downside. It looks as if one more 4-5 pattern is needed in wave (c) of circle wave 3. I assume that some more downside is going to follow, but a break above $0.383 would indicate that the bulls are trying to take the lead.
POL: The price reacted to the micro resistance level and then broke below the invalidation point for a larger wave b, which led to a rapid decline in wave 3 of (c) of circle wave 3 to the downside. It looks as if one more 4-5 pattern is needed in wave (c) of circle wave 3. I assume that some more downside is going to follow, but a break above $0.383 would indicate that the bulls are trying to take the lead.