What's different this cycle is the memecoin noise draining liquidity from solid projects. Most "influencers" pushing random shitcoins are ngmi when the rug pulls come. The quality gap is widening trash projects dying faster while legitimately useful alts are building regardless of price.
Too bad money already drained from the people, now most alts getting valued so low, or maybe finally people can value altcoin properly?
The one thing for sure, the grifter in the meme coin space will just get away with the money and this means chunks of altcoin market cap is going out day by day as long as these meme coin rugs exists.
This in turn make the altcoin market so low of liquidity that when something like tariff happens, people escape, and due to low liquidity, FDV dumped so hard.