Crypto Bull Run: Which Will Be the Next Big Cryptocurrency to Break Out?

The Crypto Market's Bullish Trajectory

Since the U.S. Presidential election, the cryptocurrency market has been experiencing a surge of activity, led by Bitcoin's impressive gains. According to 10x Research, after a substantial breakout, Bitcoin retested its support and witnessed a remarkable rise of nearly $30,000, sparking enthusiasm among investors anticipating the next rally.

Bitcoin's Ascendance

Bitcoin's value has reached an all-time high of $93,000, fueling market-wide gains and anticipation surrounding its projected growth in 2025. Following a sluggish 2023, 2024 has delivered on its bullish expectations, with Bitcoin leading the charge. Eight of the past 11 months have been positive for Bitcoin, with November marking a milestone as BTC reached its $93,000 peak, currently maintaining a value above $90,000.

Altcoins have mirrored Bitcoin's performance, achieving significant gains and setting new records. As 2024 draws to a close, excitement builds for the potential the coming year holds, promising further milestones and opportunities for the crypto market.

Rise of Legacy Altcoins

An emerging trend involves the participation of larger, established altcoins in the rally. These "legacy" altcoins, boasting market capitalizations of $5 billion or more, are experiencing significant price increases. This shift marks a departure from the dominance of meme coins with smaller market caps and portrays a focus on more robust projects with stronger fundamentals.

Search interest for altcoins has surged, reaching levels not observed since November 2021, with a Google search score of 70. This reflects growing retail interest, supported by increased spot trading volumes for altcoins. Despite a decline in Bitcoin searches, the altcoin sector is gaining momentum.

Meme Coins' Popularity

Since late September, meme coins have captured retail interest, achieving an all-time high in Google search trends. Their popularity surpassed previous peaks, attracting significant attention and speculation from traders. However, the focus is gradually shifting away from meme coins.

Overall, the memecoin sector dominated 2024, witnessing a surge of $93 billion in growth and outperforming established cryptocurrencies. The memecoin market expanded from $23.55 billion to $119 billion, with a remarkable surge in value of 397.88%. The popularity of memecoins like Dogecoin and PEPE is attributed to Trump's victory.

Anticipation of Future Breakouts

The sustainability of these rallies remains uncertain, but the market's rapid pace continues. Key altcoins are approaching critical levels, indicating the potential for further breakouts. With growing interest in both meme coins and legacy altcoins, the crypto market appears poised for another wave of growth.

As the market maintains its bullish momentum, investors are actively seeking opportunities in both emerging and established projects. Whether it involves meme coins, legacy altcoins, or Bitcoin, the pursuit of the next breakout remains a key focal point in the crypto market.