**Crypto Market Update: Altcoin Season Unlikely to Unfold as Expected**

Crypto traders are eagerly anticipating an altcoin season, but one analyst suggests it might not go as planned. Glassnode's lead analyst, James Check, argues that new traders are rushing to buy speculative assets too soon, disrupting the usual market dynamics.

- **Trader Behavior**: During the 2021 bull run, memecoins surged towards the end of the rally. However, in 2024, traders are jumping straight to hyped memecoins like PEPE, bypassing other assets.

- **PEPE Token**: PEPE has seen staggering gains, with one trader making $46 million from a $3,000 investment. Despite this, there's a gap where other altcoins aren't being touched.

- **Market Sentiment**: Some traders see the current low altcoin prices as a bullish signal. Crypto trader Luke Martin likens the situation to Bitcoin's 2020 surge, suggesting potential for significant gains.

Stay tuned for more updates as the market evolves. Remember, all trading involves risk, so do your own research before making decisions.