👀👀Have Altcoins Reached Their Peak in the Crypto Market? 👀👀

After the rise in the first quarter of 2024, many altcoins lost value. Many projects, which were down 70% to 90% from their March 2024 highs, have returned to December 2023 levels. This decline erased all gains made since the beginning of the year.

Crypto investor Andrew Kang argued that altcoins have peaked in the current bull cycle. Kang stated that memecoin projects can challenge this downward trend. According to him, some crypto assets may see new highs in the 4th quarter of 2024 and the 1st quarter of 2025.

Memecoin analyst Murad Mahmudov predicted that memecoins will dominate the industry's next altcoin season. Mahmudov stated that investors have gained awareness that altcoins are projects that involve technical confusion. He emphasized that institutional investors focused on Bitcoin and Ethereum, while individual investors turned to memecoins.

What's Happening in the Memecoin Space?

According to data from the DYOR crypto analysis platform, memecoin projects have performed better than other sectors during market volatility over the last 90 days. Memecoins showed a more flexible structure than Web3 games and Layer-2 and Layer-3 technologies.

Hitesh Malviya, founder of DYOR, took a critical approach to altcoin projects, especially those supported by venture capitalists. Malviya argued that many VC-backed projects will not survive in the long run and described most of these projects as "white-collar scams".