Altcoin’s market capitalization (3 total – excluding BTC and ETH) exceeded $1.1 trillion in the second week of August. Currently, a new all-time high is required to increase below 10%. In this context, some altcoins have seen a sharp decline in replacement reserves, reflecting accumulation and long-term holding activities.
Most reports and analyses during this period are positive outlook for the Altcoin season. The surveillance exchange reserve is one of the key factors investors use to find opportunities in August.
1. Pepe (pepe)
Santiment Data shows Pepe’s exchange reserve reached its first year low on August 10th at 97 million Pepes. In contrast, this time, more than 215 million Pepes were held in exchange last year.
In terms of prices, Pepe has yet to regain its peak levels in the second half of 2024. However, since then, its exchange supply has steadily declined. Pepe is one of the top meme tokens in the market and ranks second in Dog Coin (DOGE) in daily trading volume.
Furthermore, the number of Pepe holders has increased by 25% since the start of the year, up from 378,000 to 474,000, according to data from CoinMarketCap.
These numbers suggest that many investors view Pepe as a strong candidate for future profits. This is particularly relevant given recent reports showing that a wave of Ethereum accumulation could benefit Ethereum-based meme tokens.
2. SPX6900 (SPX)
The SPX6900 (SPX) reached an all-time high of $2.28 in late July. The surge has pushed the total value of Meme Coin Investor Murad’s portfolio to a record high.
However, since the beginning of August, SPX has dropped by more than 30% to $1.56. A notable signal is that its replacement reserves also plummeted.
Santimento data shows that over 94 million SPXs took part in the exchange in July. By August 15th, that figure had fallen to 43.7 million people. This is a decrease of over 53%. The decline accelerated in the second week of August, falling from 67.5 million to 43.7 million.
Meme investors are inspired by Murad and appear to be seeing SPX’s August pullback as an opportunity to accumulate.
Bitgo’s trading head Matt Ballensweig believes it is driving price growth for the Community Trust Fuels SPX.
“People often laugh when I say “belief” is the ultimate long-term valuer of the SPX6900. But think hard about other major global communities born out of belief alone,” Barenvaig said.
3. floki (floki)
According to Santimento data, the replacement reserve for the Floki reached an annual low of 94.7 billion Floki in the second week of August.
This decline in exchange supply is particularly noteworthy as Floki was listed on the Robinhood app in August. This list allows meme tokens to reach a broader new pool of investors.
“This is a huge step forward for Floki, deactivating access to more than 25 million users in the world’s most influential retail industry. Floki has moved from memes to the movement. Now we’re sitting with the most recognisable assets of crypto and finance that can easily access the next wave of everyday investors,” Floki said.
The general thread between these three altcoins is that they are all meme coins with good liquidity.
This trend suggests an increase in the accumulation of memecoin as investors believe capital will continue to flow from Bitcoin and Ethereum to mid-cap and low-cap tokens.
Post 3 Altcoins confirmed that the recession reserves were first introduced in Beincrypto in the second week of August.
