CDS Crypto News Exploring the Potential of Meme Coins in Today’s Market
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Exploring the Potential of Meme Coins in Today’s Market

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Exploring the Potential of Meme Coins in Today's Market

The Rise of Altcoins & A Look at the Potential of Meme Coins

The Rise of Altcoins & A Look at the Potential of Meme Coins

In 2024, most altcoins seem to have peaked after a rise in the first quarter. With value declines ranging from 70% to 90%, they are substantially underperforming compared to their March 2024 peak. Most altcoins have peaked during this bull market cycle, according to cryptocurrency investor Andrew Kang. Although the market as a whole may be trending downward, he continues to have optimism about meme coins.

I believe 98%+ of altcoins topped for the cycle except for maybe a handful of coins that may make some new highs in Q4 2024/Q1 2025. Memes probably constitute a majority of the coins that have a chance of making new highs,

Kang

Meme Coins Show Strong Performance

Meme Coins Show Strong Performance

Meme coins show a strange tenacity in contrast to the poor performance of most altcoins. Expert on meme coins Murad Mahmudov believes the industry will rule the upcoming altcoin season. According to Mahmudov’s analysis, investor sentiment has changed. Retail investors are more drawn to meme coins, while institutional investors concentrate mostly on Bitcoin and, to a lesser extent, Ethereum.

People are slowly waking up to the black pill that all altcoins have always been meme coins with a bit of techy obfuscation on top. This will cause tens of thousands of people to (1) Sell tech altcoins for pure memes, (2) Buy pure memes instead of tech altcoins with fresh fiat this cycle,

Mahmudov
  • The superiority of meme coins during the last ninety days of market turbulence is demonstrated by DYOR’s data.
  • Compared to industries such as Web3 gaming and Layer-2/Layer-3 technologies, which showed significantly lower strengths of -1.32 and -1.30, respectively, meme coins have demonstrated exceptional endurance with a relative strength of -0.37.

FAQ

What Does a Peak in Altcoins Mean for Investors?

Altcoins peaking could be a signal for investors to realize their profits and look for potential new investment opportunities.

Why have Altcoins Peaked?

The reasons for altcoins peaking include general market saturation, profit realization by large investors, and reduced new investor interest.

What is the Difference Between Altcoins and Meme Coins?

Altcoins refer to all cryptocurrencies other than Bitcoin, while meme coins are cryptocurrencies that are usually created as a joke and gain value through community support.

For more up-to-date crypto news, you can follow Crypto Data Space.

Exploring the Potential of Meme Coins in Today's Market
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lectertodd

Lectertodd is 25 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

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