Altcoins generally go through three stages:

The first stage is the filling the gap stage, which is to bring back some potential projects that have been greatly underestimated to the average value!

The second stage: a new narrative will emerge in the market leading to the explosion of altcoins, such as the previous round of DeFi.

The third stage is: garbage flying everywhere can still multiply, just like the months after August 2021, as long as people are not foolish and know when to buy, they basically make a profit!

Currently, it seems that altcoins have not yet produced a strong narrative, so it can be defined that they are still in the process of moving from the first stage to the second stage.