I'm wondering how many "vocal degenerates" believe that memecoins "should" or "will" consistently and regularly outperform bitcoin or ethereum. The present long-term trend indicates bitcoin dominance is on the rise.

Forenote: We need to make a brief analogy.

Yes, I know there is a contentious statement in the title of this thread. However, it's just like stating "we're in a recession" in 2020, 2021, 2022, or 2023 - some people say "We were in a recession" and others will say, "We weren't." We can argue metrics / indicators, 2 quarters of consecutive decline of growth, or any other figures that come to mind, but it's all semantics at the end of the day and how you personally feel about the topic at hand. The same applies to making money on memecoins vs bitcoin.

Okay, so we see a couple of cryptocurrencies that have photos of puppies or dogs, or cats, or frogs on them, or food items and they go up by tens of millions of dollars in a couple of weeks. The only signal is that the coin in question outperformed bitcoin for a limited amount of time.

https://www.coingecko.com/en/global-charts - ctrl + f: bitcoin dominance

Here is a visual aid:

https://prnt.sc/FWJnvwJiGJZ4

At the top you all can see bitcoin. It's a straight line at the top of the chart all the way from 2013 to 2024. If we change the way the chart looks, however, with coingecko's other option, then we get this:

https://prnt.sc/zPPEQJIzjFNo

I'm taking a moment to highlight the importance of bitcoin dominance. I, myself, have somewhat BTC-maximalist-centric views. At the beginning of the 2020-2022 bull run, I thought all these nice marketing buzzwords were practical along with non-fungible tokens, but I see that there are too many new people that have only a basic understanding of metamask and they lose a lot of money because of malicious smart contracts that they don't or can't read and understand.

If you made money off of memecoins, then congratulations. Someone had to become your exit liquidity however, and there is no guarantee they will go higher again due to a lack of strong fundamentals that are understood by non-crypto people.

My thesis / hypothesis: A spot bitcoin ETF is right around the corner. Percentage-wise, We saw similar bitcoin moves in 2019-2020 before that year's halving event. Altcoin season came in full-effect in (just my opinion) August 2020-December 2021. We are three months away from the next halving. My (again, personal opinion), is that altcoin season will really take off in the time-range of June to September 2024.

Take everything here with a grain of salt. I'm not a financial advisor.

EDIT: I should mention that even though bitcoin dominance is on the rise, along with the price, in previous cycles, when this happened the price of bitcoin did not always go up. From January 2018 to December 2018, the price went down while bitcoin dominance rose.