Miles Deutscher, a very popular crypto analyst with almost 500k followers on Twitter and 130k YouTube subscribers, has shared his bold prediction that the meme coin WIF (Wow I’m Funny) could potentially overtake Dogecoin (DOGE) as the top dog in the meme coin sector within the next 85 days.
In a recent video uploaded to his YouTube channel, Deutscher laid out his thesis for why WIF may be positioned to usurp DOGE’s memecoin throne during this bull cycle. Here are the key points from his analysis:
What you'll learn 👉
The Reflexive Nature of Meme Coins
Deutscher argues that meme coins represent a “very reflexive asset class” where rising prices improve the fundamental narratives and desirability around the coins, creating a self-reinforcing cycle. He stated:
“You have to understand that crypto is a very reflexive asset class…as price goes up, the fundamentals of crypto also improve, and then you have this flywheel effect that kicks into gear where the price is impacting fundamentals, and fundamentals are impacting price.”
This flywheel effect is playing out with meme coins like WIF currently, according to Deutscher. As prices pump, it increases advertising budgets and attention from retail investors, further inflating prices.
“What happens is the prices of crypto rise, in this case, meme coins, advertisers then increase their budgets because it’s ROI friendly to do so in a positive market environment. That results in more retail flooding into the market…”
WIF’s Edge Over DOGE
While acknowledging DOGE was the clear leader last cycle, Deutscher believes WIF has certain advantages that could allow it to surpass DOGE this time around:
“I think one of the reasons WIF, specifically, is performing is because of this: this tweet here says, ‘Grab the closest normie to you, show them WIF, show them Doge, give them no other information, and ask them which one they would prefer to represent themselves with.’ I mean, just look at WIF in front of you, it’s a cute dog with a hat. It’s cuter, it’s hotter, it has momentum.”
The relative novelty and “cuteness” factor of WIF’s brand could resonate more with retail investors compared to the aging DOGE meme, in Deutscher’s view.
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Show more +The Lower Market Cap Advantage
Perhaps most crucially, WIF’s much lower $3.3 billion market cap compared to DOGE’s $26.7 billion gives it more room for explosive growth according to Deutscher:
“It doesn’t take a genius to work out that if meme coins, let’s say, do another 10x from here in this cycle, and we go into retail mania, WIF and Pepe are going to perform better. I’m almost 99% sure of that.”
He estimates that based on DOGE’s trajectory during its initial 2021 pump, WIF could potentially flip DOGE by around June 7th, 2024 if it follows a similar 85-day cycle from its recent breakout. However, Deutscher concedes this is a rough approximation.
Doge Still Has Potential Too
While clearly favoring WIF over DOGE for this cycle, Deutscher doesn’t completely dismiss DOGE’s prospects, highlighting the Twitter Dogecoin payment integration narrative as a potential bullish fundamental driver.
That said, his overall stance is that the lower market cap and stronger hype/meme resonance around WIF and other upstart meme coins like PEPE give them an edge over DOGE and SHIB in terms of potential upside during this market cycle.
Deutscher recommends taking profits along the way with any meme coin positions, while keeping some exposure in case they do achieve meteoric rises. He plans to maintain his WIF and PEPE bags but will continue skimming profits, exemplifying his “long the leaders” approach in the meme sector.
Whether WIF can truly dethrone DOGE remains to be seen. But if Miles Deutscher’s analysis proves accurate, the meme coin changing of the guard may be underway over the next few months.
Finding the Next Meme Coin Gems
While WIF and PEPE are Deutscher’s top meme coin picks for now, he acknowledges there are opportunities further down the market cap ranks for the true degen investors.
According to Deutscher:
“The further down the list you get, the bigger these meme coin pumps get, the more we scroll down, the higher the chance you have of hitting a 100 or 1,000x, also the higher chance you have of literally losing all your money.”
For those willing to take on more risk, Deutscher offers some tips on how to spot potential meme coin gems early:
“A lot of the degen action is happening on Solana right now…look at Dex Screener, go onto the Solana page, and look at the tokens that are trending. You can kind of go through and spot which altcoins are starting to gain traction.”
He advises watching for meme coins that are gaining traction and volume on decentralized exchanges, as that often precedes major exchange listings like Bybit, Bitget and eventually Binance – which can trigger massive price pumps.
“As soon as they do get an exchange listing, these coins often go on their major pump, and usually, the biggest pump happens on the listing announcement. That is typically where you want to take some profits.”
Deutscher also recommends keeping an eye on new thematic “rotations” like cat coins or AI-themed meme coins, as these narratives can rapidly catch fire with the degen crowd.
While supremely risky, playing these smaller-cap meme coin rotations early can potentially yield incredible returns for those with a high risk tolerance according to the analysis.
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