Top Analyst Says Meme Coins Have Delayed Altcoin Season by Overshadowing ‘Good Altcoins’

Crypto Banter’s analyst Sheldon recently said that the market has some good deals and weak spots right now, especially with altcoins. There’s a bit of a shakeup happening where some altcoins might be giving up. Despite this, he feels confident about the market’s overall strength.

The discussion kicked off by bringing to attention two distinct types of altcoins currently in focus: those that surged early in the year and are now experiencing a pullback, and those emerging from prolonged bearish cycles. 

Addressing market sentiment, the analyst forecasted a shift towards altcoins as Bitcoin and Ethereum pave the way for broader market enthusiasm. He predicted that as Bitcoin surpasses key resistance levels, attention would shift towards Ethereum and subsequently other promising altcoins like Solana and Polygon.

Sheldon then pointed out that meme coins have slowed down the arrival of altcoin season. He thinks memes have taken the spotlight and overshadowed many good altcoin projects. This delay might change when the hype around memes calms down, possibly giving altcoins a chance to shine again. He sees meme season and altcoin season as separate trends.

Despite memes being popular now, he also praised their strong community support, similar to gaming communities. He suggested that while memes are likely here to stay, their influence might lessen, allowing altcoins to regain attention. 

The analyst predicted that only a few meme coins might do well alongside altcoins, while others could struggle. This shift might lead to a period where promising altcoins get more recognition in the market. Talking about gaming, he’s more interested in big projects that have lots of games underneath them instead of just single games.