Why are altcoins plummeting? Will the bloodbath be repeated?

Lack of Narrative: In Q1, memecoin prices soared due to pre-sale hype. While meme coins are still active, their momentum is not strong. Real World Asset (RWA) coin prices surged in the second quarter as BlackRock entered the RWA space. Currently, there is no strong narrative driving new liquidity into the market.

Cryptocurrency search trends: Interest in cryptocurrencies has waned significantly over the past five years. The current search volume is very low, indicating that retail investors are largely absent. The absence of new retail investors, while seemingly negative, can be viewed as a positive, as major assets such as Bitcoin and Solana still hold significant value.

Ethereum transaction delays: Ethereum transactions are experiencing delays, causing short-term memory loss in the cryptocurrency community. This delay may last another three weeks, but altcoins are expected to rebound once Ethereum makes a move.

Market Greed: Greed has gone so far that many celebrities have issued their own meme coins and advertised their huge profits. The market has shown many signs of greed, such as screenshots of profits and losses from retail investors boasting of making millions of dollars from meme coins.

The current market situation is challenging and painful, but there are strategies that can help you weather the storm, either by holding strongly or by strategically trading based on market sentiment.

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