What happened?
The ongoing altcoin season has been driving selective flows into tokens with liquidity and audience engagement, focusing on projects tied to platforms, communities, or public figures. Three tokens attracting attention are MemeCore, Pump.fun, and Monero. MemeCore, trading near $0.77, rebounded after community activity, Pump.fun, trading at around $0.0035, benefits from the constant use of its launch system, and Monero showed modest growth despite fluctuating market trends.
Who does this affect?
This impacts traders and potential investors in altcoins as it provides insight into which tokens have the most potential for returns. It is also significant for the communities revolving around these tokens, who often engage in campaigns and social media activities to boost their token’s visibility. Lastly, this affects the platforms and public figures associated with these tokens as their reputation may impact the coin’s performance.
Why does this matter?
This trend has a significant impact on the crypto market as it indicates altcoin season’s shift towards rewarding tokens with a specific narrative, turnover, or community engagement. The success of MemeCore, Pump.fun, and Monero exemplify how different factors can influence a token’s success. This suggests that during altcoin season, traders should not only observe the general trends but also take note of specific drivers creating a concentration of flows.