The altcoin industry is gaining bullish momentum, even as Bitcoin’s (BTC) price struggles to rise above $65,000. This is happening despite significant cash inflows from the US spot BTC ETFs. Analysts believe that the current rotation of funds within the crypto market will soon spark a major altseason, with meme coins likely to gain the most.
Recent trends in Bitcoin dominance show a potential macro reversal. This reversal is marked by a rising wedge formation along with a bearish divergence on the weekly Relative Strength Index (RSI).
If Bitcoin’s price movement follows that of Gold in the near term, the altcoin sector—positively linked to BTC—could follow a similar path, potentially amplifying the movements of altcoins.
Dogecoin (DOGE) has rallied over 4 percent in the past 24 hours, trading at around $0.1133 during Thursday’s mid-London session.
This large-cap meme coin has a fully diluted valuation of about $16.5 billion and a daily average trading volume of approximately $1 billion. Importantly, Dogecoin has broken out of a daily falling logarithmic trend.
If Dogecoin continues to close above 11 cents in the coming days, it could see a notable 40 percent increase toward 15 cents.
Pepe (PEPE), the leading frog-themed meme coin, has also surged over 6 percent in the past 24 hours, trading at about $0.000008957 during Thursday’s mid-London session. This mid-cap meme coin has broken out of a daily falling trend and holds a fully diluted valuation of around $3.7 billion, with over 285,000 on-chain holders.
A steady close above the 200-day Moving Average (MA) could boost Pepe’s price by at least 90 percent in the short term.
The future of crypto might be in the altcoins. Don’t miss out.
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