Altcoins
Top Analyst Says Meme Coins Delayed Altcoin Season by Overshadowing “Good Altcoins”
Crypto Banter analyst Sheldon recently said that the market currently has some good deals and some weak spots, especially with altcoins. There is a bit of a shakeup going on where some altcoins might drop out. Despite this, he is confident about the overall strength of the market.
The discussion began by drawing attention to two distinct types of altcoins currently in the spotlight: those that surged early in the year and are now experiencing a pullback, and those that are 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 breaks key resistance levels, attention will shift to Ethereum and subsequently other promising altcoins like Solana and Polygon.
Sheldon then pointed out that meme coins have slowed down the arrival of altcoin season. He believes that memes have taken center stage and overshadowed many good altcoin projects. This time frame could change when the hype around memes subsides, possibly giving altcoins a chance to shine again. He sees meme season and altcoin season as separate trends.
Although the memes are now popular, he also praised the strong community support, similar to that of gaming communities. He suggested that while memes are likely to stick around, their influence could wane, allowing altcoins to regain attention.
The analyst predicted that only a few meme coins could perform well alongside altcoins, while others could struggle. This change could lead to a period where promising altcoins gain more recognition in the market. Speaking of games, he is more interested in large projects with many games rather than single games.