Memecoins
Top Analysts Say Meme Coins Delayed Altcoin Season by Overshadowing “Good Altcoins”
Crypto Banter analyst Sheldon recently said that the market has some good deals and sweet spots right now, especially with altcoins. There is a bit of a shakeup going on where some altcoins may give up. Even so, he feels confident about the market’s overall strength.
The discussion began by bringing to attention two distinct types of altcoins currently in focus: those that surged earlier in the year and are now experiencing a pullback, and those emerging from extended bear cycles.
Addressing market sentiment, the analyst predicted a shift towards altcoins as Bitcoin and Ethereum pave the way for broader market enthusiasm. He predicted that as soon as Bitcoin breaks through key resistance levels, attention will shift to Ethereum and subsequently to other promising altcoins such as Solana and Polygon.
Sheldon then pointed out that meme coins have slowed down the arrival of the altcoin season. He thinks memes have taken center stage and overshadowed many good altcoin projects. This delay could change when the hype around the memes calms down, perhaps giving altcoins a chance to shine again. For him, meme season and altcoin season are separate trends.
While memes are popular now, he also praised their strong community support, similar to gaming communities. He suggested that while memes are here to stay, their influence may be waning, allowing altcoins to regain attention.
The analyst predicted that only a few meme coins may fare well alongside altcoins, while others may struggle. This change could lead to a period where promising altcoins gain greater recognition in the market. Speaking of games, he’s more interested in big projects that have many games in them rather than just single games.