Ready for Altcoin Season? These Meme Coins Are Paving the Way

The emergence of meme coin mania on several chains – led by Tron (TRX) and BNB Chain (BSC) – has teased the onset of the much-anticipated altseason. Already, Bitcoin price has signaled a potential August close above $60k, which could further boost crypto bull run in September and the fourth quarter of 2024. 

The notable rebound in Bitcoin and altcoins is largely attributed to the rising demand from institutional investors, led by U.S. spot BTC ETFs. 

For instance, according to the latest market data, the US spot Bitcoin ETFs registered an inflow of over $500 last week after reaching a peak of $250 million on Friday.

Major Shift in Bitcoin Dominance Ahead

Bitcoin dominance, a top indicator used to predict the onset of an altseason, has been studied thoroughly ahead of the anticipated parabolic crypto bull run. From a technical standpoint, Bitcoin dominance has reached a major resistance level that could yield a major shift in the coming months.

According to a popular analyst, Egrag Crypto, the upcoming altseason will occur in the next six to twelve months. In this regard, the crypto analyst expects the Bitcoin dominance to reverse from the current levels or proceed towards 70 percent before reversing. 

Ultimately, the crypto analyst expects the altcoin season to kickstart as soon as Bitcoin dominance slips below 50 percent. Such a scenario could lead to the reversal and the rise of the ETH/BTC pair after being trapped in a falling trend over the past two years.

Projects to Consider

The 2024/2025 crypto bull run will largely dominate the altcoin market due to the high adoption from institutional investors seeking to tokenize real-world assets. Layer projects that have been registering a significant increase in daily active users – led by Solana (SOL), Toncoin (TON), Tron (TRX), and BSC, among others- are expected to be among the top performers in the coming quarters. 

The DeFi projects on these top-ranked chains will eventually attract more investors and users, hence reciprocating higher volatility, liquidity, and volume.