What happened?
Altcoin season is currently characterized by tokens with visible community participation, such as MemeCore, Pump.fun, and Story, rather than large caps. Each of these tokens represents a different pathway to activity: MemeCore attracts retail flows through meme culture, Pump.fun generates turnover as a new Solana token factory, and Story links to capital related to intellectual property and AI infrastructure. Their success demonstrates that altseason can support very diverse models when each has an active user or investor base.
Who does this affect?
This altseason’s shift affects all participants in the crypto market. Specifically, retail investors attracted by meme culture are drawn to MemeCore, developers looking to quickly create and list meme coins are interested in Pump.fun, and institutional investors who see potential in intellectual property and AI infrastructure are investing in Story. Importantly, these trends are also influencing traders and liquidity providers, who must pay attention to where volume is gravitating.
Why does this matter?
The diversity in successful models this altseason has significant implications for the crypto market. Rather than a synchronized rally, altcoin season is rewarding tokens that maintain attention through specific activities. This shows that liquidity can form simultaneously around memes, launch platforms, and intellectual property, making the current rotation one of the most diverse phases in the cycle. At the same time, it indicates that altseason can support varied models as long as there’s an active base of users or investors, demonstrating the evolving nature and potential of the crypto market.