2024

Shiba Inu

Avalanche

Trillion

<p>The post <a href="https://coinpedia.org/news/altcoin-season-2024-forecast-decline-in-memecoins-could-signal-major-market-changes/">Meme Coins Fizzle, Bitcoin Soars, Investors Shift Gears: Is Altcoin Season 2024 Here?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p><a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">Bitcoin (BTC)</a> has long been the reigning champ, running the digital market. As Bitcoin approaches $72,000 with a 4.70% surge, a subtle shift is buzzing in the air – the Altcoin Season.</p> 
<p>While Bitcoin claims its throne at $71,808.47, the spotlight is turning towards the underdogs – the “altcoins.” In the last 24 hours, Bitcoin’s trading volume spiked by a whopping 76.91%, hitting $64.61 billion, and the crypto market cap reached a formidable $1.41 trillion.</p> 
<p>Let’s dive into Altcoin Season and explore the rising stars here.</p> 
<h2 class="wp-block-heading" id="h-altcoins-in-action">Altcoins in Action!</h2> 
<p>As meme coins take a backseat, altcoins like Ethereum (ETH), XRP, Cardano (ADA), Avalanche (AVAX), Polkadot (DOT), and Chainlink (LINK) are gaining momentum. Investors are reshuffling the crypto deck, seeking speculative assets beyond Bitcoin.</p> 
<p>As Bitcoin’s influence fades on meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB), altcoins are taking center stage. Ethereum has crossed the crucial $4,000 milestone, joined by Ripple (XRP), Cardano (ADA), Avalanche (AVAX), Polkadot (DOT), and Chainlink (LINK).</p> 
<p>Litecoin (LTC), Stellar (XLM), and Near Protocol (NEAR) are also making gains, driven by anticipation for the Nvidia 2024 GTC Conference. Market observers, like @CryptoTony_, foresee a shift from meme coins to promising altcoins.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">I expect <a href="https://twitter.com/hashtag/Memecoins?src=hash&amp;ref_src=twsrc%5Etfw">#Memecoins</a> to cool off soon, then see our other <a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoins</a> pump .. If your waiting to enter the big Memes such as <a href="https://twitter.com/search?q=%24FLOKI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$FLOKI</a> <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$PEPE</a> <a href="https://twitter.com/search?q=%24BONK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BONK</a> then wait for that consolidation first</p>— Crypto Tony (@CryptoTony__) <a href="https://twitter.com/CryptoTony__/status/1767289894773325827?ref_src=twsrc%5Etfw">March 11, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Also Read: <a href="https://coinpedia.org/news/raoul-pal-lists-top-altcoins-to-stack-before-april/">Raoul Pal Lists Top Altcoins To Stack Before April</a></p> 
<h2 class="wp-block-heading" id="h-the-wealth-effect">The Wealth Effect</h2> 
<p>Matt Hougan, CIO of Bitwise, explains the classic “wealth effect” at play. Crypto investors, pleased with Bitcoin profits, are now exploring greater returns in altcoins. Wealth is shifting from Bitcoin to altcoins, making them more popular. Historically, once Bitcoin breaks its all-time high (ATH), <a href="https://coinpedia.org/news/is-the-crypto-market-in-for-headwinds-heres-what-next-for-bitcoin-and-altcoin-price/">Altcoin Season</a> follows within 2-3 weeks. The Total Altcoin Marketcap has surpassed $1 trillion, eyeing the ATH at $1.7 trillion.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">12/ Historically, alts season capped the rise of bitcoin as marginal capital shifted out of bitcoin into the rest of the market.<br><br>But Bitcoin's 2024 rally is being driven by entirely new money — non-crypto-native money — flowing into the ecosystem via ETFs.</p>— Matt Hougan (@Matt_Hougan) <a href="https://twitter.com/Matt_Hougan/status/1766110154293145809?ref_src=twsrc%5Etfw">March 8, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>This Altcoin Season might differ due to the unique dynamics of the current bull market. Santiment’s insights reveal a shift, with Bitcoin reaching new highs and significant capital inflows through Spot Bitcoin ETFs. Altcoins gain attention amidst a growing total crypto market capitalization and trading volume.</p> 
<h2 class="wp-block-heading" id="h-mega-breakout-scenario"><strong>Mega Breakout Scenario</strong></h2> 
<p>Bitcoin’s rally, fueled by institutional investment after <a href="https://coinpedia.org/news/microstrategy-dethroned-blackrock-etf-becomes-top-bitcoin-holder/">Spot BTC ETF</a> approval in January, could extend the altcoin season, altering market dynamics.</p> 
<p>In the dance between altcoins and Bitcoin, if BTC breaks its prior ATH and swiftly doubles, a mega breakout is expected. Altcoins might step back briefly during this surge, waiting for their turn in the spotlight when Bitcoin takes a breather.</p> 
<p><strong>What’s for sure? Altcoins are set to shine brighter than ever before.</strong></p> 
<p>This Might Interest You: <a href="https://coinpedia.org/price-analysis/not-pepe-or-shiba-inu-this-memecoin-could-be-the-next-dogecoin-in-the-upcoming-bull-run/">Not Pepe or Shiba Inu, This Memecoin Could Be the Next Dogecoin in the Upcoming Bull Run</a></p>

Meme Coins Fizzle, Bitcoin Soars, Investors Shift Gears: Is Altcoin Season 2024 Here?

Table of Contents

CoinPedia News

Other articles published on Mar 12, 2024

Grayscale Launches Low-Fee “Bitcoin Mini Trust” to Attract Investors Amid Competitive ETF Landscape

Bitcoin Struggles to Maintain Its Ground as Prices Dip

Beoble’s X account hijacked ahead of Airdrop

Nigeria Detains Binance’s Key Crypto Crime Investigator, Details Inside

How Bitcoin bulls are challenging the status quo

Despite Higher than Expected CPI, Traders Anticipate June Rate Cut

Join our free newsletter for daily crypto updates!