After Ripple partially declared victory in the lawsuit filed by the U.S. Securities and Exchange Commission (SEC), Bitcoin‘s dominance in the market has dropped. The post Holders of XRP, Solana, ADA, Shiba, Dogecoin, and Others, Be Ready! A Rise Has Never Been So Close! appeared ...
Bitcoin’s Market Dominance Decreases Following the Court’s Decision
In the second quarter of this year, Bitcoin saw a capital inflow from altcoins. However, after the court ruled in favor of Ripple in the lawsuit filed by the SEC, Bitcoin’s market dominance decreased, creating an opportunity for altcoins to gain ground. Analysts suggest that the historical rise of the Nasdaq index, which is historically associated with the rise of the altcoin market, towards its all-time high, signals a potential altcoin season in this quarter.
Memecoins Could Explode One by One
The partially positive XRP ruling by the court is also seen as positive for the real community of memecoins, sparking speculation about a new memecoin rally. However, some experts advise caution due to ongoing negative sentiments and risks associated with investing in memecoins.
As the trading volume of altcoins increases, there could be a capital inflow into memecoins despite their high-risk nature. Accordingly, investors may allocate some of their gains from relatively less risky altcoins to memecoins. However, a memecoin rally may follow a delay due to the time it takes for profits to emerge in the cryptocurrency market.
On the other hand, the future of memecoins remains uncertain, and while some are gaining value, many are expected to fail due to the lack of clarity in the sector and regulatory pressures they face.