The Altcoin Season is Still Alive, But the Arrival is Far Away: Meme Coins Push Forward

The next altcoin season could result from the bullishness noted towards meme coins. While Artificial Intelligence (AI) and Real World Assets (RWA) tokens have been the talk of the town, meme coins have been the leaders.

The not-Bitcoin tokens, also known as altcoins, have been eagerly awaiting a new season of gains, and the anticipation has been building for almost seven months now.

While many have speculated that the arrival of the altcoin season will be triggered by either institutional investors or the launch of spot Ethereum ETFs, recent observations suggest that the reality might be a little different.

According to the latest observations, meme coins appear to be playing a crucial role in setting the stage for the next altcoin season.

Despite the buzz surrounding Artificial Intelligence (AI) and Real World Assets (RWA) tokens, meme coins have managed to steal the show with their impressive performance.

For instance, in the last 90 days, Mog Coin (MOG), Brett (BRETT), PEPE, and BONK have emerged as the top performers among cryptocurrencies.

During this period, each of these meme coins has clocked gains of over 100%. Notably, MOG and BRETT have soared with gains of 350% and 370%, respectively.

Interestingly, even though the crypto market doesn't take these tokens seriously, investors continue to pour money into them, leading to impressive gains.

For example, PEPE and BONK have clocked gains of 137% and 101%, respectively, over the last 90 days.

These observations suggest that meme coins are setting the stage for the next bull run in the crypto market.

Currently, only meme coins have managed to clock gains of over 100%, which could pave the way for attracting investors.

This, in turn, could benefit other altcoins with increased investment, boosting the potential for an altcoin season.

While meme coins alone may not be able to trigger the Altcoin Season, they could certainly contribute to it.

However, with the help of Ethereum, the chances of an altcoin season might be much higher.

The approval of spot Ethereum ETFs was a bullish moment, but the launch of these ETFs will be a much bigger event.

Despite multiple delays, the spot ETH ETFs are most likely to launch next week on July 23.

Bloomberg ETF analyst Eric Balchunas reported that the Securities and Exchange Commission (SEC) is in talks with the issuers again and expects a positive final outcome this week.

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