Altcoins Have Topped, But Meme Coins Can Still Make New Highs
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After a strong rally earlier in 2024, most altcoins have peaked and lost between 70%-90% in value. Crypto experts like Andrew Kang and Murad Mahmudov highlight that although the broader market is down, meme coins may still reach new highs. Retail investors are increasingly favoring meme coins over technology-driven altcoins. Data from DYOR indicates meme coins' stronger performance during market volatility, contrasting with weaker sectors like Web3 gaming and Layer-2 technologies. Hitesh Malviya criticizes VC-backed altcoins for often failing long-term, suggesting a need for more community-focused projects.
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