Altcoin season may be on the horizon as key narratives gain momentum in the crypto space. AI tokens and meme coins are capturing the spotlight, driving 50.4% of the narrative mindshare and signaling a shift in investor focus.
This trend is complemented by the rising market cap of altcoins, now at $837 billion, its highest level since early 2022. With altcoins still 35% below their peak, the stage is set for significant growth as capital flows away from BTC and ETH into emerging opportunities.
Memes and AI Leading the Narrative Mindshare
The emergence of strong narratives often signals the start of an altseason. When distinct themes gain traction, they drive attention and capital away from major players like BTC and ETH.
Currently, AI and meme coins are leading the way, capturing 50.4% of the narrative mindshare in the crypto space. This reflects a growing shift in focus toward these themes, setting the stage for broader altcoin season momentum.
AI coins lead with 27.76% of the narrative share, while memes trail at 22.64%, highlighting rising user interest in specific categories. As both narratives gain traction, capital is likely to move into altcoins. This could reduce BTC and ETH dominance, benefiting the overall altcoin market.
Altseason Could Spark a 35% Growth
The current market cap of crypto, excluding BTC and ETH, has reached $837 billion. This is the highest value since early 2022, reflecting a resurgence in interest for altcoins.
Despite this growth, the figure remains significantly below its peak of $1.13 trillion in November 2021, highlighting room for further recovery.
At 35% below its all-time high, the altcoin market still appears undervalued compared to the broader crypto space. This gap suggests the potential for a significant surge as investors rotate capital from BTC and ETH into alternative coins.
With rising interest in new opportunities, altcoins could see substantial growth in the coming weeks, sparking a new altseason for this cycle.
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Tiago Amaral
https://beincrypto.com/altcoin-season-is-ready-to-start/
2024-11-19 20:00:00
