K33 Research: Meme Coin Rise Could Signal Coming Torrent Season

BTC has been leading the rise in digital assets lately, but there are early signs that the so-called "cottage season" is coming, when smaller market cap tokens will outperform, analysts at K33 Research said in a market report on Friday. DOGE and SHIB are up 40-50% this week, while new entrants such as PEPE, BONK, and Dogwifhat (WIF) have doubled or more in the same time period, K33 writes: "Historically, the performance of torrents will start to outperform where we are now." The report notes that since the market bottomed in November 2022, Bitcoin's market capitalization has doubled relative to the total value of all cryptocurrencies except BTC and Ether, a scenario similar to what happened in late 2020 before the cottage coins began to catch up to BTC. Analysts added that this week's "huge" Meme Coin rally could be a "possible early sign" of the cottage season.