K33 Research: Meme coin rise may signal altcoin season is coming

According to a report by K33 Research on Friday, BTC has been leading the rise of digital assets recently, but there are early signs that the so-called "altcoin season" is coming, during which smaller tokens will perform well. K33 wrote: "Historically, the performance of altcoins will begin to surpass our current level." The report points out that since the market bottomed out in November 2022, the market value of Bitcoin has doubled relative to the total value of all cryptocurrencies except BTC and Ethereum. This situation is similar to the situation before the altcoins started catching up with BTC at the end of 2020. The analyst added that the "huge" rebound of Meme coins this week may be a "possible early sign" of the upcoming altcoin season.