At this stage, although some strong altcoins are beginning to perform, the crazy altcoin explosion like in 2021 has not yet arrived. This is because we have just passed the "BTC-led stage" of this cycle, when BTC's price rose and absorbed most of the liquidity. Altcoins will not really rebound until BTC's momentum turns, and now the fun has just begun!
BTC's dominance continues to rise and shows signs of turning. When BTC's dominance is broken, the real altcoin season will be ignited. So we have seen a general rise in the altcoin market in the past few days. Even though Bitcoin is adjusting at a high level, BTC has performed well in this round driven by Trump's economy, which is actually a very healthy thing.
We need a strong BTC to lay the foundation for a sustainable altcoin rebound. The higher Bitcoin rises, the greater the capital will turn to altcoins. In the previous round, at a similar stage in the market, BTC continued to outperform the market until the end of 2020, and it was not until the halving in 2021 that altcoins finally became the focus of attention.
If the same pattern repeats itself, this round could turn into a true copycat season in early 2025!
In addition, the minutes of the Federal Reserve meeting released this week showed that more officials supported gradual rate cuts, which means that if inflation resurfaces, they will pause for one or two rate cuts.
This shows that the Fed has actually become more hawkish. However, under the current high-pressure interest rate environment, the probability of inflation rising is not high. Therefore, Xianxian is not particularly worried about this situation.
The probability of the Federal Reserve cutting interest rates at its next meeting on December 19 is still very high, at 61.3%, but a few weeks ago the figure was over 80%, so there are still some concerns in the interest rate market. However, I personally have full confidence in the December rate cut, and the cryptocurrency market will be able to start a new round of upward trend by then. Let's wait and see.
The bull market is about to take off and these three mainstream coins will soar 20-100 times. They are worth investing in!
DOGE
Launched in 2013 by software engineers Billy Marcus and Jackson Palmer, Dogecoin was originally a lighthearted alternative to traditional cryptocurrencies, with a Shiba Inu meme as its logo. Unlike Bitcoin, Dogecoin has no maximum supply, with 10,000 new coins mined every minute, making it abundant. It was initially considered a "meme coin" but has gained significant value in 2021, entering the top ten cryptocurrencies by market cap, with over $50 billion.
This surge was influenced by social media attention and endorsements from figures such as Elon Musk. Dogecoin’s rise exemplifies the influence of community and social media on the cryptocurrency market. While its future in the current market cycle remains a topic of discussion among investors, its technology and widespread endorsement contribute to continued attention.
BONK
BONK is a memecoin on the Solana blockchain that features a Shiba Inu mascot. It aims to empower the Solana community by shifting power from venture capital tokens to community participants. After being listed on Coinbase, BONK surged over 100%, becoming the third-largest memecoin by market cap as of mid-December 2023. It airdropped 50% of its supply to Solana's NFT and DeFi users, promoting widespread adoption.
BONK is integrated into the growing ecosystem of decentralized applications, including the decentralized exchange BonkSwap. Despite challenges such as high total supply and memecoin volatility, BONK's rapid growth and active community engagement demonstrate potential. Its strong performance and ecosystem integration make it an attractive option in the current market cycle.
WIF
WIF) is a new meme coin that is gaining popularity on the Solana blockchain. Inspired by the viral Dogwifhat meme, this dog-themed token focuses on community engagement and fun. Unlike traditional cryptocurrencies, WIF emphasizes a public approach to digital assets.
Running on Solana provides WIF with fast and scalable transactions. The token’s potential lies in its ability to attract viral attention and foster a strong community. In the current market cycle, WIF’s unique meme appeal and its presence on Solana’s efficient network make it an interesting choice for those exploring meme coins. Its growth depends on community support and broader interest in meme-based crypto.
