Trader Willy Woo recently analyzed market trends and the behavior of altcoins during what he referred to as the third alt-cycle. According to Woo, this cycle is characterized by the emergence of meme coins, which he described as a satirical take on the cryptocurrency space. In contrast to the previous cycle, which saw the rise of decentralized finance (defi), Woo believes that this time there is no intention to present these meme coins as disruptive or world-changing technology. Instead, they are viewed as nothing more than a speculative bubble in the form of a casino. Despite this, Woo suggests that altcoin seasons may continue to occur in the future, although with less intensity than in the past. He concluded by stating that retail investors may finally be grasping the nature of these altcoins, as it typically takes multiple attempts to fully understand a concept.
