– Meme coins hit an 18-month low in market dominance (0.039) as Ethereum surges, capturing institutional capital and liquidity.
– Ethereum’s 25.41% August gain outpaced major meme coins, reflecting shifting investor sentiment toward projects with technical fundamentals.
– Analysts highlight Ethereum’s institutional backing, including a $640M BlackRock ETF inflow and 300,000 ETH accumulation by BitMine Immersion.
– Despite meme coins’ historical bull market outperformance, their speculative nature and lack of utility struggle against institutional-driven market trends.
– Cyclical market theory suggests a potential altcoin resurgence could follow Ethereum’s dominance, though meme coin recovery remains uncertain amid evolving crypto dynamics.