2024

PEPE

James

<p>Altcoins are experiencing a tough period, partly due to the emergence of memecoins which are capturing a significant share of crypto investments. According to James Check, lead analyst at Glassnode, these memecoins act as a “silent killer” by diverting crucial funds, hindering the altcoin season.</p>
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     <p lang="en" dir="ltr">Memecoins: The Silent Killer of Altcoin Season Says Glassnode Lead Analyst<br><br><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f539.png" alt="🔹" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://twitter.com/hashtag/Memecoins?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Memecoins</a> are diverting funds, delaying the altcoin season, says <a href="https://twitter.com/glassnode?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@glassnode</a> analyst James Check.<br><br><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f539.png" alt="🔹" class="wp-smiley" style="height: 1em; max-height: 1em;">Every dollar in meme coins takes away 50-60 cents from major <a href="https://twitter.com/hashtag/altcoins?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#altcoins</a>.<br><br><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f539.png" alt="🔹" class="wp-smiley" style="height: 1em; max-height: 1em;">Low altcoin prices might…</p>— CoinMinutes (@coinminutesnews) <a href="https://twitter.com/coinminutesnews/status/1829453358039793939?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 30, 2024</a>
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  The current performance of crypto memes worries more than one
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<h2 id="h-les-memecoins-un-obstacle-pour-les-altcoins-crypto">Memecoins: an obstacle for crypto altcoins?</h2>
<p>In a <strong>recent Rough Consensus podcast</strong>, James Check highlights the negative impact of memecoins on the performance of altcoins. According to his explanations, crypto traders are rushing to <a href="https://www.cointribune.com/en/crypto-meme-coins-drive-dexs-to-179-5-billion/" target="_blank" rel="noopener noreferrer nofollow">popular memecoins</a> such as Dogecoin, Shib Inu, and PePe, which attract a large amount of <em>capital.</em></p>
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<p><em>“For every dollar invested in memecoins, about 50 to 60 cents could have been allocated to major altcoins like Ethereum, Solana, and XRP”,</em> he argues in <a href="https://youtu.be/To-NNsd6v8s" target="_blank" rel="noopener noreferrer nofollow">the podcast</a>. This diversion of funds creates a deficit for altcoins, slowing their progress in the crypto market.</p>
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<h2 id="h-l-ascension-fulgurante-des-memes-crypto-une-menace-pour-les-altcoins">The meteoric rise of crypto memes: A threat to altcoins?</h2>
<p>Traditionally, memecoins gained popularity towards the end of bullish phases in the crypto market. In 2024, however, the rise of these crypto assets <strong>began much earlier</strong>, disrupting the evolution of altcoins.</p>
<p>Example:</p>
<p>The enormous success of <a href="https://www.cointribune.com/en/pepe-annihilates-dogecoin-and-becomes-the-new-king-of-memecoins-cryptos/" target="_blank" rel="noopener noreferrer nofollow">PEPE</a> has seen traders achieve colossal gains. Notably, there is mention of a crypto investor who <strong>turned $3,000 into $46 million</strong>.</p>
<p>This situation illustrates the diversion of capital that could have propelled altcoins but is now channeled towards these trendy cryptocurrencies.</p>
<p>Despite the current context, some crypto experts predict a rebound for altcoins once the hype for memecoins diminishes. The current low trading volumes and prices could signal an opportunity for these cryptocurrencies to regain ground. According to these experts, <a href="https://www.cointribune.com/en/crypto-market-crash-altcoin-season-at-risk/" target="_blank" rel="noopener noreferrer nofollow">altcoins</a> could even outperform if capital starts to redirect towards them. Stay tuned…</p>

Crypto: Memecoins Delay Altseason – Here’s How!

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