Investors Shift Attention from Meme Coins to Layer 1 Blockchain Networks
The crypto market is shifting focus from speculative meme coins to established Layer 1 (L1) blockchains, including Bitcoin, Ethereum, Solana, Toncoin, and Cardano.
Key points include:
- Investors are moving toward long-term investments as meme token values decline.
- L1 tokens account for 44.2% of crypto discussions; interest in meme coins like Dogecoin, Shiba Inu, and Pepe has decreased.
- Historically, periods dominated by meme coins precede corrections.
- The transition to L1 assets suggests a more stable market environment.
The altcoin market cap, excluding Bitcoin and Ethereum, is approximately $910.14 billion, reflecting a 2.88% daily increase but remains below the 20-day Exponential Moving Average (EMA) of $934.7 billion. The Relative Strength Index (RSI) is around 43.52, indicating neutral-to-bearish momentum, while the MACD shows potential signs of a trend reversal.
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