Memecoins and Ether are biggest winners of the week

Just as memecoins were the biggest losers during the months of February and March, they were the biggest winners during the second half of April (except for that terrible first week) and certainly during the first week of May. In the past seven days, Pepe gained some 60%. Ether also significantly outperformed Bitcoin in recent days. Is this a sign that altcoin season is about to start?

Washington Post

Whether it is smart to invest in memecoins is something we will always leave open, because with these extremely volatile digital coins you never know what’s gonna happen next. However, the history of crypto does teach us is that memecoins can rise very quickly whenever Bitcoin starts a new bull run. Last week, the famous Washington Post was quite dismissive of memecoins, probably because Pepe, Dogecoin, Shiba Inu and Bonk, to name but a few, had to deal with huge losses in the first months of the year.

A week later, the roles are reversed again. Pepe and Dogwifhat both gained more than 60% in one week, Bonk and the others about 25%

As previously reported, it was quite unlikely that Bitcoin would maintain its dominance over altcoins at last week’s level (65% dominance for Bitcoin) and it seemed to us a possibility that a new altcoin season could begin. We are not there yet, but the announcement by Vitalik Buterin that Ether’s blockchain would be simplified, already increased the value of the second largest cryptocurrency by about 35% this week. By comparison, the 8% that Bitcoin added in the same period is of course meagre.