Altcoin Boom on the Horizon? Stellar, Sui, Mantra, and Dogecoin Light Up With Triple-Digit Gains

2024-11-26 21:33:38

Abstract generation in progress

Based on data as of Nov. 26, the Altcoin Season Index (ASI) hosted on blockchaincenter.net is picking up steam, with standout performances from stellar (XLM), sui token (SUI), and mantra (OM), all posting impressive triple-digit increases.

Altcoin Season Teases Investors

Two weeks ago, the Altcoin Season Index (ASI) scored a modest 37 out of 100, but as of Nov. 26, it has climbed to 53. While it’s still not officially altcoin season, the trend is inching closer to the mark, with the ASI needing to hit 75 to make it official. In simple terms, this would indicate that 75% of the top 50 coins outpaced bitcoin (BTC) in performance over the last 90 days.

A wave of altcoins has delivered eye-popping gains this season. Stellar (XLM) has soared an impressive 400.1% against the U.S. dollar over the past 90 days, with sui token (SUI) not far behind at 342.4%, and mantra (OM) skyrocketing 328.3%. Meanwhile, the reigning champ of meme coins, dogecoin (DOGE), is also making waves.

Over the same period, DOGE has climbed 303.4% against the dollar, while HBAR gained 183.4%, ADA jumped 177%, and FTM surged 160%. Not to be left out, XRP, PEPE, BONK, SEI, WBT, and CRO all posted triple-digit growth. The steady rise of blockchaincenter.net’s ASI, coupled with these notable performances, suggests a brewing shift in market dynamics.

Historically, when multiple altcoins outperform bitcoin (BTC) for an extended period, it often signals the onset of a broader altcoin season. With momentum building, this trend reflects growing investor confidence in alternative assets, increasing the likelihood of the fabled altcoin season. However, BTC dominance remains at 57.8%.

As altcoin performance heats up and the ASI inches closer to the crucial 75 mark, the potential for a full-scale altcoin season becomes ever more tangible. The rally across diverse assets hints at a rising appetite for altcoins, driven by speculation and eco innovations. If the current trend holds, the balance of power could soon shift further from bitcoin’s dominance.

XLM-0.49%

SUI-0.67%

OM-1.59%

DOGE-1.42%

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