Memecoins
Did Altcoin Hunters Miss Meme Coin Season? KAI Cat says he’s not even close.
Meme coins were rising sharply earlier this year, but are down in June. Altcoins such as Shiba Inu, Dogwifhat, Bonk, Pepe and PopCat were at the top of the cryptocurrency charts for daily and weekly growth candles. These meme-inspired decentralized financial cryptocurrencies were better bets than Bitcoin and Ethereum for weekly returns.
What’s going on with the price drop for meme currencies? Has the summer of memes already come to an end, or are market conditions temporarily putting the meme rally on hold? Market caps in the billions will start to lose their gravitas in a meme rush or the hype train will increase with more steam than ever Are you facing a key strategic summer this year?
Why are Meme Coin prices decreasing?
The top meme coins by market cap were in the red last week, in line with the market’s overall bearish performance for the week ending Saturday, June 15.
Bitcoin (BTC) posted a 4.92% gain in the seven-day window, BNB Coin (BNB) for Binance Exchange and Binance Smart Chain fell 9.78%, and Toncoin (TON) gained 10.48% on cryptocurrency exchanges.
Top gainers for the seven-day window among cryptocurrencies include Notcoin (NOT) with a 157% increase in value, JasmyCoin (JASMY) with a 52% gain, and Ordi Coin (ORDI) with a 36% increase in value for the week.
Bitcoin Rune Ordinal project DOG GO TO THE MOON was the only meme coin to escape the massacre for the week DOG GO TO THE MOON brought investors 65% of their capital and sent Bitcoin money back to the moon.
The rest of the meme coin market, however, did not fare as well in the seven-day window. Bonk (BONK) on the Solana network fell 19.7% in weekly trading. DogWifHat fell 7.8% amid the meme coin rout. Pepe (PEPE) on Ethereum fell 11% over the week. Shiba Inu on Ethereum is down 10% for the seven-day period.
Dogecoin also fell 2% in weekly trading. Only Floki Inu (FLOKI) was spared on Ethereum and Binance Smart Chain, with gains of around 4.9% to show for the week’s swaps. Even Brett (BRETT), Doge’s friend on Coinbase, not only managed to escape the carnage, but was up 48%.
Have you already missed meme coin season?
Is meme season over yet? Unlikely. While there is no guarantee of any future movement of free and open markets for cryptocurrency exchanges, meme season tends to follow the waves of capital moving into decentralized finance (DeFi) ecosystems during altcoin season following the Bitcoin capitalization peaks. Bitcoin has not yet reached that point in this cycle.
Once the price of Bitcoin reaches the market top and begins to stabilize, likely several months into 2025, other cryptocurrency markets will also begin to find their way to their local peaks.
This will be the end of the altcoin season, potentially in mid-to-late 2025, or even 2026, depending on how the overall super cycle develops alongside the rest of the global economy in 2024 and beyond.
So you probably haven’t missed meme coin season, yet. But the first returns come from projects like Kai Cat Coin, who are in their pre-sale event with fixed pre-market prices. Investors looking for the biggest candles to profit from seed their gains far and wide projects like thesestay connected to the online community and meme early and meme often.