Meme Coins Outperform BTC, ETH and SOL as Traders Rotate Holdings

Due to varying levels of liquidity, meme coins historically perform well during periods where BTC and ETH are rangebound near local highs and perform poorly when the wider market is tumbling. Dogwifhat, for example, rose by more than 60% in May, while BTC traded between $66,000 and $69,000.