Meme coins PNUT, PEPE, WIF, and BRETT saw significant gains, with PNUT skyrocketing by 122.5% and reaching a market cap of over $2 billion. Other meme coins also saw gains between 20-40%. The surge in meme coins and altcoins overall has lifted the sector's market cap by 9% in the past day, reaching a record high of $126.6 billion. Analysts are debating the potential for an upcoming altcoin season, with some speculating that Bitcoin's strong performance is crucial for setting the stage for a sustainable altcoin rally. However, others believe that Bitcoin dominance has peaked and expect alt season to begin soon. The altcoin rally may not fully materialize until Bitcoin dominance reaches around 66%. The current altcoin index reading of 35 suggests that a true altcoin season is still far off.



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