Why does this cycle not feel like an altcoin season at all? To put it bluntly, it’s because the whole “presidential coin” playbook completely threw everyone off.

How did altcoins used to take off? It was a process. Project teams would quietly accumulate and slowly pump, growing the market cap from a few hundred thousand to a few million, then grinding up to tens or even hundreds of millions. There would be continuous shakeouts, retail investors getting in, market makers joining, wave after wave of profit-taking and accumulation. The whole rhythm could last half a year or even a full year, and that was normal. Look at SHIB back then, or when PEPE was gaining momentum—weren’t those built up over time and patience, feeding the market bit by bit? Retail had plenty of time to watch, FOMO, chase the highs—that’s what makes it a “season.”

But then the presidential coins came and flipped the table. In just two days, they pumped straight to $8 billion—what does that mean? That’s the equivalent of instantly surpassing several established projects in size. The early holders who got in were already cashing out before anyone else even had a chance to react. And those who entered later? They were just left holding the bag. Prices skyrocketed so high, so fast, that regular people never even got a chance to slowly participate, let alone “ride the emotional wave.” The dump at the top was swift and brutal, leaving only panic and forced selling. Can this kind of playstyle create long-term holders? Dream on.

The most damaging part is the demonstration effect. People in the space watched as one presidential coin sucked up all the hype that should have belonged to altcoin season, turning a huge group of copycats into minced bagholders—so who would dare to touch alts now? Outsiders who were curious before have been scared away as well. The altcoin rally that should have slowly fermented was stomped out at the starting line.