Altcoins Just Got Wrecked… But the Party Might Not Be Over Yet 🎉🫣
Altcoins like $XRP , DOGE, and $SOL took a nosedive this week — think of it as a crypto roller coaster where everyone forgot to buckle up. While Bitcoin $BTC barely stubbed its toe, the altcoins faceplanted hard, dropping around 18%, because — surprise! — too many traders were borrowing like they owned the blockchain.
According to Coinbase’s David Duong, the wild altcoin dip is thanks to excessive leverage — basically, people betting big with borrowed money and getting wiped out when the market sneezes.
But here’s the juicy part: Bitcoin’s dominance just slipped under its 200-day moving average, and if it stays there, we might just enter the magical land of Altcoin Season — where coins with dog logos and space memes start outperforming the “king coin.”
🚨 Pro Tip: If BTC keeps underperforming and altcoins stop acting like emotional teenagers, we could see another round of altcoin gains. Just don’t go full degen yet — wait for a few more confirmations before YOLO-ing your life savings into meme coins.
So yeah, the market’s a mess, but the dream of Alt Season isn't dead. It’s just… hungover.