TechFlow reported on October 9 that QCP Capital's latest analysis indicates a significant increase in meme coin trading activity within the cryptocurrency market. Funding rates for perpetual contracts on platforms such as Deribit and Binance have risen over the past two weeks, suggesting weakening bearish sentiment or long positions being accumulated. However, concerns about potential downside risks have emerged due to signs of bubble formation in the meme coin market.
QCP recommends that despite short-term uncertainty, investors may consider continuing to accumulate during market dips, given the positive mid-term outlook. They suggest using accumulator strategies to purchase at discounted prices during market corrections, and believe uncertainties arising from the U.S. election should be temporary.
