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Did Altcoin Hunters Miss Meme Coin Season? KAI Cat says it’s not even close.
Meme coins took off at the beginning of this year, but fell into disrepair in June. Altcoins like Shiba Inu, Dogwifhat, Bonk, Pepe, and PopCat were topping cryptocurrency leaderboards for daily and weekly growth candles. These meme-inspired decentralized finance cryptocurrencies were better bets than Bitcoin and Ethereum for weekly returns.
What is happening with the meme coin price recovery? Is the summer of memes already coming to an end, or are market conditions momentarily suspending the meme rally? Will market caps in the billions start to lose their gravity in a meme rush or will the hype train boom with more steam than ever heading into an important strategic summer this year?
Why Are Meme Coin Prices Falling?
The top meme coins by market capitalization were in the red last week, in line with the market’s overall bearish performance in the week ending Saturday, June 15.
Bitcoin (BTC) ran through the seven-day window with a 4.92% gain, BNB Coin (BNB) for Binance Exchange and Binance Smart Chain fell 9.78%, and Toncoin (TON) gained 10.48% in the cryptocurrency exchanges.
The biggest gainers in the seven-day window among cryptocurrencies included Notcoin (NOT) with a 157% increase, JasmyCoin (JASMY) with a 52% gain and Ordi Coin (ORDI) with a 36% jump in value for the week.
Bitcoin Rune Ordinal project DOG GO TO THE MOON was the only meme coin to escape the massacre during DOG GO TO THE MOON week 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 is down 19.7% in trading for the week. DogWifHat fell 7.8% amid meme coin rout. Pepe (PEPE) on Ethereum is down 11% for the week. Shiba Inu on Ethereum fell 10% in the seven-day period.
Even Dogecoin fell 2% in trading for the week. Only Floki Inu (FLOKI) was spared on Ethereum and Binance Smart Chain, with gains of around 4.9% for the week’s swaps. Brett (BRETT) – Doge’s friend at Coinbase – also managed to not only escape the carnage, but rose 48%.
Have you already missed Meme coin season?
Is meme season over yet? Unlikely. While there is no guarantee of any future movement from free and open markets to crypto exchanges, meme season tends to follow the waves of capital moving into decentralized finance (DeFi) ecosystems during altcoin season, following capitalization spikes. of Bitcoin. Bitcoin isn’t even there yet this cycle.
Once the price of Bitcoin reaches the top of the market and begins to stabilize, likely several months from now in 2025, other cryptocurrency markets will begin to find their way to their local peaks.
That will be the end of the altcoin season, potentially in mid or late 2025, or even 2026, depending on how the overall supercycle evolves along with the rest of the global economy in 2024 and beyond.
Then you probably haven’t missed meme coin season — yet. But the first returns come from projects like Kai Cat Coin, who are at your pre-sale event with fixed pre-market prices. Investors looking for the biggest candles to make profits by sowing their gains far and wide projects like thesestay in touch with the online community and meme early and meme often.