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Top Analyst Claims Meme Coins Delayed Altcoin Season Overshadowing ‘Good Altcoins’
Crypto Banter analyst Sheldon recently said that the market has some good trades and weaknesses at the moment, especially with altcoins. There is a small change happening where some altcoins may be giving up. Despite this, he feels confident about the overall strength of the market.
The discussion began by drawing attention to two distinct types of altcoins currently in focus: those that rose at the start of the year and are now experiencing a pullback, and those emerging from prolonged 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 Bitcoin broke through key resistance levels, attention would turn to Ethereum and subsequently 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 gained prominence and overshadowed many good altcoin projects. This lag could change when the hype around memes calms down, possibly giving altcoins a chance to shine again. He sees meme season and altcoin season as separate trends.
Although memes are popular now, he also praised the strong community support, similar to gaming communities. He suggested that while memes are likely here to stay, their influence may wane, allowing altcoins to regain attention.
The analyst predicted that only some meme coins could perform well alongside altcoins, while others could struggle. This shift could lead to a period where promising altcoins gain more recognition in the market. Talking about games, he is more interested in large projects that contain many games, rather than just individual games.