Retail interest in altcoins has declined amid a broader market downturn and a persistent risk-off sentiment across the crypto sector.
Yet, Santiment suggested that the current lack of enthusiasm could likely be a contrarian bullish signal.
Altseason Hype Disappears From Google and Social Media, Data Shows
Google Trends data reveals that search interest for terms like “altcoins,” “altcoin season,” and “altseason” has remained low, with scores below 5 at press time. This trend highlights a lack of excitement around altcoins, further reinforcing the market’s cautious atmosphere.
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At the same time, blockchain analytics firm Santiment observed a significant decline in weekly mentions of “altseason” across social media.
“‘Altseason is synonymous with FOMO and greed toward more speculative, emotionally driven assets like $DOGE, meme coins, or hyper-volatile and often mid to lower cap altcoins,” the firm said.
The firm explained that when social media mentions of “altseason” surge, it is often associated with market tops. Conversely, when discussions around “altseason” hit a low point, it tends to signal the point at which large capital holders often begin to drive up the price.
“Historically, however, moments like these when social volume toward altcoin interest is at extreme lows are around the time that rallies begin,” Santiment noted.
However, the firm stressed that this is not a foolproof trading signal. Disinterest in altcoins doesn’t always correlate with an imminent altcoin surge.
In a follow‑up post, the firm highlighted Dogecoin (DOGE) as a recent case study.
“It’s wise to be a contrarian to the echo chamber that is crypto social media. Dogecoin is +15% in 24 hours, and it’s not an accident that the pump began just after the crowd went historically bearish on altcoins,” Santiment added
Bitcoin’s Rally Fuels Optimism, But Expert Warns Risks May Loom
Nonetheless, it is important to note that DOGE’s rally was not isolated. The broader crypto market also experienced a notable upswing yesterday. Bitcoin climbed to an intraday high above $74,000. In addition, Ethereum jumped to $2,198.
BeInCrypto Markets data shows that the top 10 crypto assets all posted gains over the past 24 hours. At press time, Bitcoin’s price had adjusted to $72,618, while ETH was trading at $2,127 and Dogecoin at $0.096.
Alphractal CEO Joao Wedson had earlier cautioned that if Bitcoin surges past $72,000, it could spark an altcoin rally. Nevertheless, he also suggested that this could indicate Bitcoin’s bearish cycle is not over.
“The real risk signal will likely come from altcoins themselves, which may start triggering warning signs. I don’t think it’s smart to short altcoins this week. Maybe next week,” he added.
While the current rally has fueled optimism, whether it will last remains to be seen.
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