Bitcoin's Dominance Delays Altcoin Season

比特幣的主導地位推遲了山寨幣季節

Bitcoin's dominance, currently standing at 57.4%, is hindering the anticipated altcoin season.

比特幣目前的主導地位為 57.4%，阻礙了預期的山寨幣季節。

Memecoins Drain Investment from Established Cryptocurrencies

Memecoin 耗盡了現有加密貨幣的投資

Investment is diverting towards memecoins, such as Dogecoin and PEPE, depleting funds from traditional cryptocurrencies like Ethereum and XRP. Analyst James Check estimates that 50-60% of investment in memecoins could have been allocated to established assets.

投資正在轉向狗狗幣和 PEPE 等 memecoin，從而耗盡以太坊和 XRP 等傳統加密貨幣的資金。分析師 James Check 估計，memecoin 的 50-60% 的投資本來可以分配給既定資產。

PEPE Token's Rise Prompts Market Trends

PEPE 代幣的崛起提示市場趨勢

Memecoins are gaining traction earlier in the current market cycle than in 2021. PEPE Token, for instance, has witnessed a remarkable upward trend in early 2024, with traders reaping substantial profits.

Memecoin 在當前市場週期中比 2021 年更早獲得關注。

Bitcoin ETFs Contribute to Memecoin Popularity

比特幣 ETF 有助於 Memecoin 的流行

Check attributes the surge in memecoin investment to the approval of Bitcoin exchange-traded funds (ETFs), providing traders with an opportunity to invest in these volatile assets during Bitcoin's price rally.

Check 將 memecoin 投資的激增歸因於比特幣交易所交易基金 (ETF) 的批准，為交易者提供了在比特幣價格上漲期間投資這些波動性資產的機會。

Analysts See Altcoin Decline as a Bullish Signal

分析師將山寨幣的下跌視為看漲訊號

Despite the decline in altcoin prices and low trading volumes, some analysts view this as a positive sign. Luke Martin believes altcoins are currently undervalued and represent a buying opportunity, similar to the period preceding Bitcoin's significant rebound in 2020.

儘管山寨幣價格下跌且交易量較低，但一些分析師認為這是一個正面的訊號。 Luke Martin 認為，山寨幣目前被低估，代表著買入機會，類似於 2020 年比特幣大幅反彈之前的時期。