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- 🚀 Memecoin Frenzy: Surge Unraveled, Shocking Crash Reason Revealed!
🚀 Memecoin Frenzy: Surge Unraveled, Shocking Crash Reason Revealed!
Institutional Crypto Research Written by Experts
10x Research
March 19, 2024
👇1-12) Many people need clarification on the wild swings of cryptocurrencies. Often, there is a method to the madness (see the book Bitcoin: The Irresistible Rise). Recently, we have seen altcoins and meme coins explode, making several hundred percent in a matter of days.
👇2-12) Some have argued that altcoins should take over now, as Bitcoin provided the first upside leg of this bull market. But without a new bull market narrative like DeFi Summer, it isn't easy to pinpoint why a broad rally should occur or why any altcoin/meme coin mini-bull market is sustainable. Our trading signals model went short ETH-USDT a few days ago.
👇3-12) Bitcoin dominance has remained high at 52%, indicating that Bitcoin is still dominating crypto despite other altcoin seasons when Bitcoin’s dominance declined to 34%. While some coins like Solana have rallied since last October, the broader altcoin sector has disappointed despite (temporarily) exploding at the end of February 2024.
Why altcoins/meme coins exploded and why those price trends could reverse:
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