Altcoin season neutral as meme coins slump, Solana cools

The Altcoin Season Index climbed to 51 from deep Bitcoin-led readings in early June. The index measures how many leading altcoins have outperformed Bitcoin over a 90-day window; a reading above 75 is commonly used to confirm an altcoin season. The broader altcoin market capitalization is near $923 billion.

Over the past 30 days a basket of meme tokens declined 19.1% while a basket of mid-cap altcoins fell 9.8%. The difference in performance, measured as meme outperformance, is negative 9.3 percentage points. The 30-day correlation between the two baskets is about 0.90, indicating they have moved together over that period.

On-chain metrics show the Solana network led other chains in recent meme-coin trading and new token launches during the most recent seven-day span, with roughly $471 million in meme-coin volume. One major chain was excluded from cross-chain comparisons after a token displayed wash-trading patterns that inflated turnover.

Weekly decentralized-exchange volume tied to Solana meme coins fell from an estimated $5.2 billion in the week beginning June 5 to about $1.1 billion by June 14, a decline of roughly 80%. The decline in DEX volume occurred over that nine-day window.

The Altcoin Season Index uses a 90-day horizon to count top altcoins that outperform Bitcoin; readings below 75 are not treated as a confirmed altcoin season. The index’s rise to 51 reflects a shift from the early-June readings but remains below the conventional season threshold.

Reported figures: Altcoin Season Index at 51, altcoin market cap near $923 billion, meme tokens down 19.1% over 30 days, mid-cap alts down 9.8% over 30 days, 30-day correlation about 0.90, Solana seven-day meme volume about $471 million, Solana DEX weekly meme volume down from ~$5.2B to ~$1.1B between June 5 and June 14.