As a seasoned cryptocurrency analyst with over a decade of experience in the digital asset market, I have witnessed numerous bull and bear cycles, and learned to read between the lines of market trends and analyst predictions. The recent surge in meme coins like PNUT, PEPE, WIF, BRETT, and others, coupled with the general rise in altcoins, has caught my attention.
On November 14th, meme coins such as PNUT, PEPE, WIF, and BRETT experienced significant growth, standing out among the top 100 cryptocurrencies by market cap, as analysts foresee the arrival of an upcoming “altcoin season.
Over the last day, Peanut the Squirrel’s (PNUT) value surged by a staggering 122.5%, pushing its total market worth beyond the $2 billion mark. This popular meme coin reached an unprecedented peak of $2.44 on Thursday, only to later scale back some of its gains and settle around $2.07 at the time of writing.
Over the last 24 hours, the price of PEPE, a meme coin based on Ethereum, increased by 75%. It was currently being traded at approximately $0.0000225 per token. The market capitalization of PEPE stood at an impressive $9.4 billion. Notably, earlier today on November 14th, the price of PEPE reached its highest point ever at $0.00002457, accompanied by a massive trading volume that surpassed $25 billion during that time.
Other well-known meme tokens like Dogewhiz (WIZ), BrettCoin (BRETTC), Poptoken (POPT), BonkCoin (BONK) and Floki (FLOKI) have seen significant daily increases, with gains ranging from 20% to 40%. Conversely, Dogecoin and Shiba Inu, the pioneers of meme coins, experienced more moderate growth of 5.4% and 5.9% respectively.
Over the last day, the value of meme coins and other alternative cryptocurrencies has skyrocketed by 9%, pushing their total market capitalization to an all-time high of $126.6 billion. This upward trend can be attributed to Donald Trump’s recent election win and Bitcoin reaching new record highs on numerous occasions in the past few days.
In its current stage of determining value, Bitcoin is sparking discussions among analysts about the possibility of an impending period favorable to alternative cryptocurrencies, known as altcoins. They believe that this trend could potentially trigger a widespread surge in the market for these alternative digital assets.
Based on insights from cryptocurrency analyst Miles Deutscher, we’re currently experiencing the “Bitcoin period” within the market cycle. During this phase, Bitcoin, being the main cryptocurrency, is still exploring its price potential and continues to surge, absorbing liquidity until it reaches the peak of the cycle. The season for altcoins typically follows when Bitcoin’s dominance starts to decrease.
The analyst mentioned that while there’s been a significant increase in altcoins lately, a true “altcoin boom” (or “alt season”) hasn’t occurred yet. They emphasized that Bitcoin’s current strong performance plays a vital role in creating conditions for a lasting rally of altcoins. As Bitcoin continues to rise, it’s predicted that the shift of capital into altcoins will be more intense.
As a fellow crypto enthusiast, I’ve been pondering over the current dominance of Bitcoin, which stands at about 60.80%. Ash Crypto, a respected analyst in our field, posits that this dominance might have peaked for this cycle and we could soon see Bitcoin starting to lose some ground.
“ONCE THE CRASH BEGINS, ALTSEASON WILL START,” said Ash Crypto.
Similarly, market commentator CryptoAmsterdam expects alt season to start in the coming weeks.
Initially, as Bitcoin surpasses its previous record high, a significant influx of funds pours into the cryptocurrency market.
— CryptoAmsterdam (@damskotrades) November 13, 2024
Instead of Patric H, on the contrary, visualizes a more extended timeframe, implying that the surge in altcoins might not peak until Bitcoin’s dominance approximates around 66%, given BTC‘s consistent growth. Similar to Deutscher, he foresees this higher dominance level as a foundation for a much more robust altcoin era and encourages his followers to maintain their altcoin holdings in readiness.
At the moment, with the altcoin index standing at 35, it seems that we’re not yet close to witnessing a genuine “altcoin boom” – a period characterized by significant growth typically indicated when the index exceeds 75, as it did in March 2021 and August 2022.
Read More
- Ludus promo codes (April 2025)
- Cookie Run: Kingdom Topping Tart guide – delicious details
- Unleash the Ultimate Warrior: Top 10 Armor Sets in The First Berserker: Khazan
- Cookie Run Kingdom: Shadow Milk Cookie Toppings and Beascuits guide
- Grand Outlaws brings chaos, crime, and car chases as it soft launches on Android
- Grimguard Tactics tier list – Ranking the main classes
- Fortress Saga tier list – Ranking every hero
- Tap Force tier list of all characters that you can pick
- ZEREBRO/USD
- Val Kilmer Almost Passed on Iconic Role in Top Gun
2024-11-14 13:21