With Bitcoin catching its breath after flirting with $100,000, the crypto crowd are trying to make a quick buck elsewhere, throwing altcoins like Ether and even memecoins into the spotlight.
Bitcoin’s meteoric rise since Donald Trump’s return has fueled gains across the board, but its struggle to breach the six-figure mark is sparking a “gradual rotation” into other assets, says trading firm QCP.
Memecoins, from Dogecoin to lesser-known names like Pepe, Floki, and Mog, have all gained traction in recent weeks even as former Binance CEO Changpeng Zhao called for memecoin enthusiasts to rein it in.
Rotation in play
Some experts believe Ether and Solana could take center stage, with Bitcoin headed for a “correction”. Ether has seen steady inflows into U.S. spot ETFs, with $94 million added over two days last week, according to SoSoValue.
This momentum could boost Ethereum-linked DeFi tokens like LDO, UNI, and EIGEN, Bitget Wallet COO Alvin Kan tells MONIIFY.
Solana, too, is riding high, hitting a new all-time price of $260 days ago. Kan predicts that if Solana breaks above its previous highs, interest in its ecosystem could surge, potentially lifting smaller tokens like ACT, GOAT, and LUCE.
Volatile much?
Bitcoin’s path to $100K remains uncertain, with option rollovers (when traders either let their options contracts expire or extend by rolling over to new ones) this week likely to cause turbulence, Michael van de Poppe, a crypto analyst and trader with more than 700,000 followers on X, tells MONIIFY.
“It’s not that likely that we’re seeing $100K through this week.”
For now, this should mean that the crypto market’s attention will also be diversified towards alternative plays, with altcoins and memecoins basking in Bitcoin’s momentary pause.
Whether they’ll sustain the pace remains the big question.
