Back

The Next Altcoin Season Will Be Driven by Meme Coins Over Ethereum

editor avatar

Edited by
Ryan Boltman

16 July 2024 22:30 UTC
Trusted
  • Over the last season, meme coins have ruled the best-performing asset spots.
  • Mog Coin, Brett, PEPE, and BONK have noted over 100% gains in the last 90 days.
  • Spot Ethereum ETF speculated to launch by July 23, could boost the altcoin season.
Promo

The Altcoin Season is highly awaited as it has been nearly seven months since the last time the not-Bitcoin tokens enjoyed gains.

The arrival of the altcoin season has been speculated to be triggered by either institutional investors or the launch of spot Ethereum ETFs. Still, the reality might be a little different.

Sponsored
Sponsored

Meme Coins Push Forward

The next altcoin season could result from the bullishness noted towards meme coins. While Artificial Intelligence (AI) and Real World Assets (RWA) tokens have been the talk of the town, meme coins have been the leaders.

In the last season, i.e., the last 90 days, the top performers have been Mog Coin (MOG), Brett (BRETT), PEPE, and BONK. Each of these meme coins has noted gains exceeding 100%, with MOG charting a 350% rise and BRETT rising by 370% in the same duration.

Sponsored
Sponsored
Brett Price Analysis.
Brett Price Analysis. Source: TradingView

The crypto market, despite not taking these tokens seriously, continues to pour money into meme coins, resulting in PEPE and BONK noting gains of 137% and 101%, respectively.

Thus, the market could benefit from this bullishness.

At the moment, the chance of an Altcoin Season is still alive, but the arrival is far away. Since only meme coins have noted gains exceeding 100%, these joke coins will likely pave the way for attracting investors.

Read More: 12 Best Altcoin Exchanges for Crypto Trading in July 2024

Altcoin Season Index.
Altcoin Season Index. Source: BlockChain Center
Sponsored
Sponsored

This way, other altcoins could also benefit from increased investment, accelerating the potential of the reign of altcoins.

Ethereum Will Provide the Necessary Boost

Whether meme coins alone will be able to trigger the Altcoin Season or not is uncertain, but with the help of Ethereum, the chances are significantly higher. The approval of spot Ethereum ETFs was a bullish moment, but the launch of these ETFs will be a much bigger event.

Read More: Which Are the Best Altcoins To Invest in July 2024?

Despite multiple delays, the spot ETH ETFs are most likely to launch next week on July 23. Bloomberg ETF analyst Eric Balchunas reported that the Securities and Exchange Commission (SEC) is in talks with the issuers again and expects a positive final outcome this week.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.