The altcoin industry is gradually heating up following Bitcoin’s (BTC) uproar to a new all-time high (ATH) on Monday. More mainstream investors are proliferating into various exchanges seeking to ride the bull season. Furthermore, the leading cryptocurrency exchange in the United States, Coinbase Global, has broken down twice this month due to heavy traffic.
Meme Coin Season Signals End of First Stage of Bull Cycle
Over the past few weeks, the altcoin industry – led by Shiba Inu (SHIB), Pepe (PEPE), Floki, and Bany Dogecoin (BABYDOGE) – has registered significant gains. In the history of crypto bull cycles, the emergence of the meme coin mania signals the end of the crypto cash rotation.
Furthermore, Bitcoin’s bullish sentiments have peaked in the past few days after consolidating around $68k.
Bitcoin’s Dominance About to Shrink
As Bitcoin entered its price discovery phase after more than two years in the bear market, Ethereum (ETH) price joined the party by reclaiming $4,000 for the first time in over two years. Although Bitcoin price will likely continue in a bullish outlook in the coming weeks, the altcoin industry is expected to gain faster.
According to a famous crypto analyst Elja has opined that the Bitcoin market dominance is on the cusp of historical reversal. As a result, Elja believes the mid and low-cap altcoins will begin to rally parabolically in the coming weeks.
Top Altcoins to Watch
With the stablecoins and Bitcoin dominance showing an inevitable reversal, the altcoin industry is slated for much more gains. Some mid and low altcoins to keep a close eye on include those in Layer One and Twos, DeFi tokens, and AI-focused altcoins. Some of the top peaks include Chainlink (LINK), Solana (SOL), Uniswap (UNI), Polygon (MATIC), Bittensor (TAO), and Sei (SEI) among others.