After the 2024 Bitcoin halving, the altcoin market has experienced notable price movements. While initial gains were significant, recent corrections have dampened much of the enthusiasm generated by the halving event.
Following the halving, investors often turn to altcoins as a way to diversify their portfolios or capitalize on potential gains. This influx of funds typically leads to a market-wide rally, with certain tokens outperforming others.
Surprisingly, PEPE Coin has emerged as a standout performer among the top 50 cryptocurrencies by market cap. Despite market volatility, PEPE Coin has seen a remarkable 148% increase in price since the halving, reaching a high of $0.0000124 on June 17.
However, caution is advised when investing in PEPE Coin due to its reliance on social media hype for price movement. The token’s volatile nature makes it a risky investment option.
Ethereum, as the second largest cryptocurrency, has also seen gains post-halving. While reaching a high of $4,080 before a correction, Ethereum benefitted from speculation surrounding spot Ethereum ETFs, resulting in a nearly 20% increase in price since the halving.
Meanwhile, other major altcoins like Solana and AVAX have struggled to maintain their gains, with some trading at a loss compared to pre-halving prices. Toncoin, on the other hand, has seen steady growth since March 2024, with prices increasing by over 35% since April 20.
Overall, the post-Bitcoin halving period has been marked by fluctuating prices and market corrections, highlighting the unpredictable nature of the cryptocurrency market.