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Milady Meme Coin (LADYS) price continued its strong rally this week as demand for meme coins continued rising. It also jumped as traders embraced a risk-on sentiment after the relatively dovish Federal Reserve decision. It jumped to a high of $0.000000124, its highest point since May 16th.

Milady has jumped by more than 370% from its lowest point this year, giving it a market cap of over $107 million. Other meme coins have jumped sharply in the past few weeks. For example, the Solana token, surged to a high of $0.015, which was over 6,000% above the lowest point this year. Bonk’s market cap has jumped to over $700 million.

Meme coins like Milady and Pepe could do well after the Federal Reserve delivered a dovish statement on Wednesday. In its final decision of the year, the bank decided to leave interest rates unchanged between 5.25% and 5.50% for the third straight meeting. 

Most importantly, the dot plot pointed to three rate cuts in 2024. In his press conference, Powell did not push back against this. Therefore, analysts believe that the bank will likely deliver deeper cuts in 2024 if inflation continues falling.

In a note, analysts at ING noted that the bank will cut rates by 150 basis points in 2024 while Jeff Gundlach of Doubleline believes that it will cut by about 200 bps. I believe that the rates will be about 100 bps.

The Federal Reserve is not the only major central bank expected to slash rates in 2024. Most economists see key central banks like the ECB, Bank of England, and Swiss National Bank (SNB) slashing them during the year.

There is a case for low-interest rates in 2024. Global inflation is expected to continue falling now that oil and natural gas prices have retreated. In addition, global logistics prices have fallen, as I wrote in an article on ZIM Integrated.

In most cases, risky assets tend to do well when central banks are cutting rates. For example, Bitcoin and other coins reached their record highs in 2021 when rates were zero.

There are other reasons why Milady Meme Coin, Bonk, and other meme coins will continue doing well in 2024. For example, there are signs that the Securities and Exchange Commission (SEC) will approve a Bitcoin ETF. 

LADYS price chart

Also, Bitcoin halving will take place in April. Historically, Bitcoin does well ahead of this halving. Most altcoins do well when Bitcoin is in an uptrend. Therefore, the outlook for LADYS price is bullish, with the next level to watch being at $0.0000018, the highest swing on May 15th. This price is about 55% above the present price.

The post Milady Meme Coin (LADYS) analysis as the surge continues appeared first on Invezz

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