Historical trends suggest a potential altcoin rally but the current buzz surrounding AI tokens and meme coins could mean that they will lead the rally.
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Amidst the bullish market trend, altcoins have showcased noteworthy performances. But, recent data points towards a continuation of the bullish momentum for altcoins.
Against this backdrop, the growing attention on AI tokens and meme coins raises the question: could they spark the beginning of the next significant market movement?
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Renowned crypto analyst Moustache recently took to Twitter to share an intriguing observation. According to him, altcoins are yet to surpass the highs seen in November 2021, hinting at the potential for an extended rally.
Altcoins are still in a consolidation phase, which often precedes an upward price rally. This scenario can be compared to what unfolded back in 2013, leading to the altcoin market cap hitting an all-time high (ATH) in 2017.
If historical patterns repeat, altcoins may soon enter a parabolic phase, potentially propelling them to achieve new ATHs in the upcoming months or years.
However some of the altcoins have shown incredible strength. Leading the pack is $Eth who reached a new 2 year high of $4000 and $bnb which has recently ripped through $500.
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Tony Chimdiuto