Signs are emerging in the cryptocurrency market regarding the imminent altcoin season, where altcoins can gain significant value and even outperform Bitcoin.
Signs of Altcoin Season
The CoinMarketCap Altcoin Season Index, which examines the top 100 cryptocurrencies' performance over the last 90 days, is nearing a midpoint value of 49, which is close to 100, indicating an upcoming market boost and potential altcoin season. Bitcoin and Ethereum are expected to lead the charge, with potential altcoins like Solana (SOL) and XRP set to rise.
Potential of Shiba Inu and Other Altcoins
According to predictions from Shiba Inu team member Lucie, the altcoin season may positively affect Shiba Inu (SHIB), expected to gain momentum due to increased usage of Shibarium. BONE is set to become a vital component of the Shiba Inu ecosystem, while LEASH is anticipated to reemerge as a long-term viable option. Meanwhile, mid- and small-cap altcoins might observe substantial gains, with meme coins like SHIB potentially skyrocketing thanks to social hype and retail engagement.
Fraud Warnings
Lucie warns that with the onset of altcoin season, an increase in scams is expected. Cryptocurrency communities are encouraged to remain vigilant, particularly against impersonator accounts that may purport to be official Shiba Inu representatives. These accounts often link to fraudulent sites aimed at misleading users and stealing information. It is advised to verify sources, avoid suspicious links, and handle personal information and crypto assets with care.
As the altcoin season approaches, the cryptocurrency market is becoming active; however, experienced traders advise caution due to potential fraud risks.
