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BTC recovered at a satisfactory pace from the dip but is still at the beginning because the $65,000 threshold has not yet turned into support. Cryptocurrency investors experienced significant losses in altcoins during the last major drop. However, we did not see losses being compensated at the same rate in every altcoin. The reason is clear, many altcoins can reach their previous levels while BTC consolidates at high levels. So, what about the ones that stand out positively? Now let’s take a look at the pioneers.
Altcoins to Buy During the Rise
In bull markets, new investors generally have a stronger appetite, and seasoned investors who have weathered many storms wait for the right time to sell. You probably turned to meme coins when you first got acquainted with crypto. Besides, new investors tend to show interest in other speculative assets.
Of course, the greed for easy gains causes such altcoins to experience faster increases during an uptrend. We saw a similar scenario in the last drop, and we will likely witness more abnormal movements triggered by interest in speculative assets like meme coins as the altcoin uptrend continues over the next year.
For all these reasons, some seasoned investors with balances they can risk also turn to assets that new investors might show interest in. Thus, they reach more capital that allows them to enter alternatives with more solid foundations.
Altcoins Rising in the Bull Market
According to CoinGecko, the total market value for meme coins is currently around $54.15 billion. We saw altcoins like Popcat, Pepe, and Dogwifhat respond more quickly in the recent recovery. POPCAT increased by 55% in just one week, and crypto analyst RookieXBT wrote the following;
“POPCAT has now reached an all-time high and is finally aiming to explode to billions of dollars. I believe the entire cat meme category is about to be repriced as most major categories retest significant levels. The first half of the year was designed to separate winners from losers. The second half is for the winners to keep winning.”
PEPE Coin price also increased by 31% during the same period. Crypto investor Lark Davis examined other data and asked his followers;
“Is the memecoin craze back?”
CoinGecko pointed to meme coins as the best-performing assets in the first half of 2024. Of course, meme coins bring high gains as well as losses at the same rate.
