Altcoins are struggling as an analyst predicts the cycle peak, while memecoins surge, suggesting a potential shift in crypto market dynamics and investor sentiment.
Key Insights:
Altcoins are facing difficulties, with most significantly down from their all-time and yearly highs.
Analyst Andrew Kang believes the altcoin market has peaked for this bull cycle, with most altcoins unlikely to reach new highs soon.
Memecoins, on the other hand, are thriving. New launches like $DADDY and $MOTHER have reached tens of millions in market cap within days.
Kang argues that memecoins are here to stay and will dominate the market.
Despite the strength of memecoins, the future of altcoins remains uncertain. Investors should adopt a "wait and see" approach.
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