IOTA, XRP, and DOGE Lead the Charge in Altcoin Season as Google Trends Reach Record Highs
The post IOTA, XRP, and DOGE Lead the Charge in Altcoin Season as Google Trends Reach Record Highs appeared on BitcoinEthereumNews.com.
Tokens like IOTA, XRP, and DOGE have seen impressive price gains, further validating the ongoing altcoin season. The market capitalization of altcoins, as tracked by the TOTAL3 chart, has risen to $1.08 trillion, with indicators showing strong support for continued growth. Interest in altcoins has surged dramatically, with Google Trends data revealing a global search score of 90. This suggests that the search volume is nearing peak levels last witnessed during the 2021 bull market. Moreover, Iota (IOTA), Ripple’s XRP, and Dogecoin (DOGE) have grabbed the spotlight amid this surge, becoming key participants in this altcoin season. The uptick also reflects an increase in attention towards cryptocurrencies beyond Bitcoin (BTC). Google Trends Data Highlights Renewed Interest The rise in altcoin interest coincides with BTC’s recent breakthrough above $100,000, hinting at capital rotation into alternative assets, per the CNF report. Altcoins like IOTA, XRP, and DOGE are among those benefiting from this renewed enthusiasm with a significant boost in price action. In October, searches for “altcoins” scored a modest 11 on Google Trends. However, this figure skyrocketed to 90 in November, indicating a massive increase in global interest. This level of attention, last seen during the 2021 rally, often precedes substantial price movements in the altcoin market. Courtesy: Google Trends During the 2021 bull market, heightened search activity for altcoins corresponded with record highs for several tokens. The current scenario shows a similar trajectory, with notable coins like Binance Coin (BNB) and Tron (TRX) achieving new milestones. Altcoin Season Confirmed by Key Indicators The Altcoin Season Index, which evaluates the top 50 cryptocurrencies against Bitcoin over 90 days, has further confirmed the resurgence. For altcoin season to be validated, at least 75% of these assets must outperform BTC, reported CNF. Recent data shows that 36 out of the top 50 altcoins…
Filed under: News - @ December 5, 2024 5:26 pm