Major Altcoins Drop 30-50%: Will Altcoin Season Even Happen?

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As a seasoned market analyst with over two decades of experience navigating the volatile waters of the cryptocurrency industry, I’ve seen more than my fair share of bear markets and bull runs. The recent 30%, 40%, and 35% drops in DogWifHat ($WIF), Shiba Inu ($SHIB), and Pepe ($PEPE) respectively have left many investors questioning the impending altcoin season.

In simpler terms, the price of DogeWithHat (WIF) dropped by 30%, Shiba Inu (SHIB) decreased by 40%, and Pepe (PEPE) fell by 35%. These significant declines have made some investors wonder if an upcoming altcoin surge might be on the horizon.

In this economic slump, Altura ($ALU) appears as a strong contender to spearhead the next surge in altcoins. Despite the general market struggles, $ALU displays optimistic signs, creating a falling wedge formation – a pattern typically followed by substantial price leaps. Let’s dive into the ongoing market assessments for these altcoins and understand why $ALU could buck the current trend.

DogWifHat ($WIF) Rebounds from Key Support

After experiencing a significant drop to approximately $2.00, DogWithHat ($WIF) appears to be rebounding. This resurgence suggests that this level has traditionally served as a significant support area for $WIF, implying a potential turning point for the token’s price trend.

For the cryptocurrency $WIF, the next significant barrier lies at approximately $2.15. If the price surpasses this point, it might lead to further growth. Conversely, if the DogWifHat struggles to maintain itself above the $2.00 area, there’s a possibility of a return to the $1.80 zone.

(These levels are closely being watched by traders for the next directional move.)

Shiba Inu ($SHIB) Faces $3.2 Million Market Outflows

The significant reduction by 40% in Shiba Inu’s ($SHIB) value was noticed amidst large withdrawals, with approximately $3.2 million worth of demand leaving the system. This mass withdrawal pattern seems to indicate a decrease in whale participation, which could be a signal of waning investor interest and reduced on-chain activity. However, the growing acceptance of Shibarium might potentially lead to an upturn in the future.

Significant backing for SHIB can be found at approximately 0.000022 USD, while a barrier of resistance lies around 0.00003 USD. If we see a return of whale activity and an increase in practical uses from Shibarium, there’s potential for SHIB to regain its bullish energy once more.

Pepe ($PEPE) Price Rebounds: Is the Crash Over?

As an analyst, I’ve been closely monitoring the performance of Pepe ($PEPE), which has recently taken a 35% plunge. However, it appears that the token is now finding its footing, with the price hovering around a significant historical support level at $0.000017.

Altura ($ALU): A Bright Spot in a Bearish Market

Amidst a challenging time for many alternative cryptocurrencies, Altura ($ALU) emerges as a promising contender that could spearhead a future altcoin surge. Unlike coins such as $WIF, $SHIB, and $PEPE, $ALU demonstrates tenacity. At present, it is constructing a falling wedge pattern, a technical indicator often associated with bullish market movements. This pattern typically signals impending significant price surges, and $ALU fits the bill.

Will Altcoin Season Happen?

Absolutely! It seems like we’re approaching another altcoin boom period. The experts are quite optimistic about the first and second quarters of 2025 as they’ve historically been strong for altcoins. This optimism is based on a mix of economic factors, rising use of blockchain technology, and the market cycle.

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2024-12-24 23:54