After the rally in the first quarter of 2024, most altcoins have lost a significant portion of their value, falling 70%-90% from March levels. The total market capitalization of altcoins, excluding Bitcoin and Ethereum, has returned to December 2023 levels, wiping out all gains accumulated since the beginning of the year. However, according to some analysts, memcoins maintain upward momentum and may make new highs in the future.

Crypto investor Andrew Kang believes that almost all altcoins have peaked in the current bull cycle. However, he is bullish on memcoins, expecting them to withstand the overall market downturn. “I believe that 98%+ of altcoins have already peaked in the current cycle, with the possible exception of a few coins that could make new highs in Q4 2024 or Q1 2025. Most of these coins are probably memcoins,” Kahn said.

Expert Murad Makhmudov also expressed confidence in the future of memcoins, expecting them to dominate the next altcoin season.