Altcoin Season Index Hits 51 as Memecoins Underperform
Altcoin Season Index reached 51 as capital rotated off Bitcoin; Solana memecoin DEX volume fell about 80% week‑over‑week and meme tokens dropped 19.1% over 30 days.
The Altcoin Season Index, which measures how many of the largest altcoins outperform Bitcoin over a 90‑day period, was at 51 in the latest reading. A reading above 75 is the conventional threshold used to define an altcoin season. The combined altcoin market capitalization was about $923 billion at the same time.
Over the past 30 days, a tracked basket of meme tokens declined 19.1%, while a basket of mid‑cap altcoins declined 9.8% over the same period. The two baskets had a 30‑day correlation of 0.90.
On the Solana network, memecoin activity led networks in the seven days through the latest data with roughly $471 million in memecoin trading volume and the largest number of new token launches. Solana’s weekly decentralized exchange memecoin volume fell from roughly $5.2 billion in the week of June 5 to about $1.1 billion by June 14, a decline of approximately 80%.
One blockchain was excluded from some comparisons after a single token exhibited trading patterns consistent with wash trading, producing turnover about 438 times the token’s valuation. The figures reported here come from on‑chain and exchange transaction records.
The Altcoin Season Index reading, the 30‑day token returns and the Solana DEX volume are the latest available market data on altcoin and memecoin performance.
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