SHIB and Dogecoin lead Memecoin's unexpected outbreak, 98% of altcoins usher in historical peaks

More than 98% of altcoins have already peaked, and only a few will be able to set new highs in the fourth quarter of 2024 or the first quarter of 2025. His analysis comes after the turmoil in the cryptocurrency market last week, when many tokens saw double-digit percentage declines in price. Kang observed that most altcoins had already peaked before the recent crash, and only a few tokens will be able to recover to their historical highs in the coming months.

"Memcoin may be one of the majority of coins that can set new highs. However, due to the wide variety of memecoins, you need to be very careful when choosing," Kang said. Some analysts have predicted that memecoins will show positive signs of recovery.

According to DaanCrypto's observation on X, Dogecoin (DOGE) has shown signs of a strong upward breakout. As of this writing, Dogecoin is trading at $0.1073, down 0.04% in 24 hours. If the price of the largest meme coin can recover above $0.12, analysts believe that bullish momentum will dominate again.

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"Memcoin may be one of the most coins that can set new highs. However, due to the wide variety of meme coins, you need to be very careful when choosing." Kang said. Some analysts have predicted that memecoins will show positive signs of recovery. According to @DaanCrypto on Twitter, Dogecoin (DOGE) has shown strong signs of an upward breakout. As of this writing, Dogecoin is trading at $0.1073, down 0.04% in 24 hours. If the price of the largest meme coin can recover above $0.12, analysts believe that bullish momentum will dominate again.

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