Well, well, well! It seems that our beloved meme coins have plummeted to depths unseen since 18 months past, and like a dog chasing its tail, the market has turned its affections toward what the savvy investors are calling an ‘Ethereum season.’
This however does not have the experts clutching their pearls in despair. Quite the opposite, in fact! They’re optimistic, pointing to some elaborate four-phase jig that may just usher in a glorious resurrection of meme coins as coins lounge about, waiting for their turn to ride the liquidity wave. 🏄♂️💰
So, Why Are Meme Coins Down in the Dumps?
According to our trusty pals at CryptoQuant, the dominance of meme coins has now dropped to the staggering figure of 0.039, a miraculous low we haven’t seen since our calendars flipped to February 2024.
In a delightful post on X (formerly known as Twitter, mind you), an analyst shoved the finger of blame directly at Ethereum (ETH). It appears this savvy little creature is feasting on the market’s liquidity like a big ol’ bear at a picnic, leaving naught but crumbs for our frail little meme coins.
This indicates that a good chunk of dollars is diving into ETH’s warm embrace, now leaving our dear meme coins gasping for breath in a dry desert of capital.
“It’s clearly not meme coin season right now, and even though a few manage to perform, it remains very anecdotal,” read the post, or at least that’s how I interpret it over my cup of strong coffee.
“We are in the Ethereum Season, as the majority of liquidity is flowing into ETH. For Altseason, we need more retail liquidity which won’t come until ETH hits a new ATH,” Cas Abbé, a name that sounds suspiciously like a fancy cheese, declared.
The numbers tell the tale of woe as well, dear reader. While meme coin market cap has joyfully leapt by 79.5% from its April lows-from $39.93 billion to over $71 billion, the gains look like a mouse’s squeak compared to ETH’s concert. Ethereum, the whiz-kid in this financial school, boasts a jump of 215.91%, going from $177.49 billion to a whopping $560.7 billion. Talk about a case of ‘Keeping up with the Joneses’! 🏎️
Thus far this month, Ethereum is practically doing somersaults with a 25.41% increase. Meanwhile, Dogecoin (DOGE) flexes a modest 10.48%, Shiba Inu (SHIB) huffs along with a 4.58%, while Pepe (PEPE) pops a 7.31%. It’s like watching tortoises in a race, only one’s got roller-skates!
This glaring inequality suggests that Ethereum is busy siphoning the riches away from the meme coin pond. 🏊♂️
Meme Coin Season: A Delayed Arrival?
But fret not! The tale of the meme coin may not have reached its last chapter just yet. Some wise scholars observe, with charts and candles shining bright, a four-phase symphony that could signal a glorious return to form for meme coins. Apparently, we are now in Phase 2, which is still riding the Ethereum wave.
“We waited years for this moment. Now it’s here. ETH just entered Phase 2: Ethereum season. The best runs in history started right here,” proclaimed Merlijn The Trader, who must enjoy a decent bit of drama.
Next up is Phase 3, during which Ethereum shall continue to outshine Bitcoin like a splendid star in a dark desert sky, leading to a mad rush for altcoins big and small, culminating in our beloved meme coins riding a euphoric coattail procession.
“Altcoins are just starting to take off, and meme coins always run last,” another oracle of the market weighed in, likely shaking their scholarly head.
Thus, despite this sobering decline, the growth of the meme coin market and the eccentric dance of altcoin seasons hint at a potential spring. Whether this potential will whirl around like a tornado of opportunity or if the sophisticated, suited folks at the top have changed the very fabric of our beloved market shall become clear in due time.
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2025-08-15 14:38