Meme coin cooling off impacts Solana? Andrew Kang predicts SOL may drop to $80.

Venture capitalist and Co-founder of Mechanism, Andrew Kang, shared his analysis on the future trends of BTC and ETH. Additionally, despite his optimism towards SOL and meme coin projects like Trump, Doge, and Frog at the beginning of the year, he predicts that if the meme coin craze fades, the price of SOL will also be greatly affected.

Ethereum ETF Delayed to Fourth Quarter

Andrew Kang believes that the Ethereum spot ETF will be delayed to the fourth quarter of this year. He claims that many ETF experts are also leaning towards a launch in the fourth quarter, but Bloomberg ETF analyst Eric Balchunas only revealed the possibility of a listing in July in mid-June.

Bloomberg Analyst: Ethereum Spot ETF Could Launch in Early July

Still Bullish on Bitcoin

Due to the lack of capital inflow into ETFs, market momentum has shifted from bullish to bearish. However, Andrew Kang believes that Bitcoin will maintain a strong trend and will not fall below $50,000.

He stated:

Although the weekly chart may appear to some as a double top, I believe the market structure has significantly changed from previous bull market cycles. More DCA regular investment plans have created higher lows and balance, and high leverage players such as 3AC, Alameda, Celsius, etc. have also decreased.

Ethereum's Upside Limited

Compared to Bitcoin, Andrew Kang is not as optimistic about ETH.

He pointed out that ETH may rise until the ETF goes live, but the upside may be below $4,000, and if capital inflows are not as expected, and a large amount of ETHE grayscale ETF is dumped, it could drop to the $2,000 level.

Furthermore, the crypto space is relatively more familiar with ETH, and expectations for an Ethereum ETF may be higher than those of traditional financial retail investors. He mentioned that Bloomberg ETF analyst Eric Balchunas had also noted the lower interest in an Ethereum ETF from the outside world.

Elderly People Don't Understand "Ethereum", Lack of Traditional Market Appeal for ETH ETF?

SOL Could Drop to $80

Although bullish on SOL and meme coin projects like Trump, Doge, Frog, etc. since the beginning of the year, Andrew Kang mentioned the potential impact of the cooling off of meme coins at the end of the article.

Solana has performed well in this cycle, but the demand for meme coins also affects the rise and fall of SOL from a reflexive perspective. If meme coin trading slows down in the coming months, you may be able to buy SOL again at around $80.