The market is looking better than it was yesterday when everything was in the red. Some altcoins in the top 20 were down by over 15%, for example, Litecoin, Dogecoin, which was down by 18% and now recovering around fifty cents. Ethereum is recovering back to $4,200.
There is a high possibility that very soon, Bitcoin will rise and break its previous all-time highs. A seventy thousand dollar Bitcoin, or even more, is coming very soon. Despite how Bitcoin has been behaving sideways and has been on the sidelines, it is not that much of a big deal, neither is it surprising because this was a cool-off phase after the last rally Bitcoin had to sixty thousand dollars.
A huge altcoin season is coming, especially for the smaller market capital cryptocurrencies that have not had any major rally. Over the past few weeks, we have seen many cryptocurrencies in the top 20 surging. When this happens, profits tend to spill over to the smaller market capital cryptocurrencies in the following weeks. When this occurs, we usually see those high 10x pumps in those smaller altcoins.
Cardano ADA is around a dollar and seventy cents, we may see it breaking two dollars soon.
The Ethereum gas fees are getting ridiculous; the Ethereum gas fees are around $200 to $700 per transaction, especially at peak volume periods.
Ethereum network is getting massive amounts of volume because of the meme tokens getting massive volume amounts over a short period. Meme coins have been surging over the past two days.
The Shiba NIU token is one of those meme tokens getting massive amounts of volume; it surged over forty thousand percent in the past few months. There are even rumors that people who invested a thousand dollars have about a million dollars; people hear rumors like this and throw money that they are willing to lose into these meme tokens.
Meme Tokens are bringing many people into the crypto space, even though not everyone will make huge gains. Some will make money, and others will lose money, coupled with the fact that the risks are high when dealing with small market capital altcoins, especially meme coins. Experiencing losses in the crypto world is why everyone has to get educated in the crypto space before jumping into the small market capital cryptocurrencies.
Despite how it is technically meme token season and the meme tokens are going crazy and surging, they will still buy out over time; they will have massive corrections and the crypto space continues to grow. Some of these meme tokens will still see massive profits, but one thing you should have in mind is that at the rate they are surging (e.g., 4000% within a few months), there is not enough buying pressure that will support the selling pressure when the time comes.
If you are investing in meme tokens, regardless of how enticing the thought of mega-profits may appear, you always have to remember that you could get burned, and there is a very high possibility that you might lose your money.
