As reported by CryptoPotato, Bitcoin (BTC)’s return to $70,000 has boosted the value of meme coins, making them the most profitable group among altcoins. Santiment noted in a tweet that despite the apparent lack of utility of meme coins and the negative attitude of the crypto community towards their existence, the meme coin space has seen impressive growth over the past week. Santiment explained that the growth of speculative assets like meme coins has become one of the main themes in the crypto space in 2024, breaking the belief that pumps with minimal development on target projects are a red flag. However, Santiment believes that the timing of meme coins with surging market capitalizations such as Dogecoin (DOGE), Maga (TRUMP), ArbDoge AI (AIDOGE), SPX6900 (SPX) may not mean that their rally is about to end, especially with about eight days left before the Bitcoin halving. Bitcoin halving usually drives the value of BTC up, driving the entire crypto market. In addition, large altcoins may recover in the coming months as analysts expect a massive altcoin rally after the Bitcoin halving.