Ever heard the phrase "this time it's different" in crypto? Yeah, we all have—and it usually bites us in the backend. But crypto trader Rexha 🐸 is calling BS on that tired trope in a recent X thread that's got the community buzzing. Drawing parallels to the last bull cycle, Rexha argues we're staring down the barrel of a setup that's anything but unique: Bitcoin dominance (BTC.D) peaking while BTC soars and Ethereum (ETH) lags behind. The punchline? When BTC.D tops out like this, ETH doesn't just recover—it explodes, dragging meme coins and alts into the frenzy.

If you're knee-deep in blockchain or just dipping your toes into meme tokens, this matters. Big time. Understanding these dominance shifts isn't just chart gazing; it's your cheat code to spotting the next wave of gains. Let's break down Rexha's analysis, why it echoes 2021's madness, and what it could mean for your portfolio—especially those cheeky meme plays that turn pennies into play money.

Decoding the Charts: BTC Dominance and the Alt Flip

At its core, Bitcoin dominance measures BTC's slice of the total crypto market cap pie. When it spikes, BTC is the king, sucking up all the oxygen. But when it rolls over? That's the signal for alts to breathe—and party.

Rexha's thread kicks off with a killer chart overlaying BTC.D against BTC and ETH prices from 2017 and 2021 cycles. Key highlights:

• The Purple Dots of Doom (or Delight?)​: These mark BTC.D's "true top"—the point where BTC is about 50% above its all-time high (ATH), but ETH is still 47-50% below its peak. In 2021, this happened right as BTC.D crested at around 50%. What followed? BTC kept climbing 120% higher, but ETH? It rocketed 587% from that low, smashing its ATH and leaving BTC in the dust.

• Current Cycle Vibes: Fast-forward to now (late 2025), and history's rhyming hard. BTC's 50% above ATHs, ETH's hovering 50% below, and BTC.D is flashing those same topping signals. Rexha points out ETH's already up 126% post-top—impressive, but peanuts compared to what's coming. "ETH shot straight up to ATHs after this," he notes, hinting at the "silly" leg where gains go parabolic.

Zoom in on the second chart in the thread (from an earlier post Rexha quotes), and it's alt-mageddon in the best way. Once ETH crosses its ATH, capital floods into layer-2s, DeFi tokens, and yes—meme coins. Remember 2021? Dogecoin and Shiba Inu didn't just pump; they memed their way to market cap miracles while BTC.D bled from 70% to under 40%.

Rexha wraps with a cheeky reminder: "Now on the next leg is where things get really silly." And he's got a point—ETH/BTC and broader alts pulled back hard last time ETH hit ATHs, but that was just a pit stop before the real rally.

Why Ethereum's Turn Could Ignite Meme Coin Mania

For blockchain builders and traders, ETH's surge isn't abstract. It's the floodgate. Ethereum's ecosystem—home to NFTs, DeFi protocols, and a meme token breeding ground—thrives when gas fees spike and liquidity pours in. Last cycle, as ETH climbed, transaction volumes exploded, birthing viral hits like PEPE or FLOKI that rode the wave from obscurity to billions.

Think about it: Meme coins aren't "serious" assets, but they're the crypto world's hype machine. They amplify sentiment, drawing retail FOMO when blue-chips like ETH validate the bull thesis. If Rexha's right, and ETH closes that 50% gap to ATH (currently around $4,800 after the November pump), expect:

• Meme Token Flows: Tokens like $DOGE, $SHIB, or fresh 2025 contenders could see 10x-100x runs as dominance drops below 45%.
• Altseason Timelines: Not tomorrow, but soon—maybe Q1 2026 if macro holds (keep an eye on Fed rate cuts and ETF inflows).
• Risks to Watch: Pullbacks happen. Rexha notes the 2021 ETH ATH dip was brutal (-51% for some alts), so dollar-cost average and don't bet the farm.

This isn't financial advice, folks—just pattern recognition from a frog who charts like a wizard. But if you're building on Ethereum or hunting meme gems, now's the time to stack knowledge (and maybe some ETH).

Tying It Back: Lessons for Meme Token Hunters

At Meme Insider, we live for these moments. Meme tokens aren't just jokes; they're the canary in the crypto coal mine, signaling when retail's back and liquidity's loose. Rexha's thread screams "altseason loading," and for good reason—cycles repeat because human greed doesn't change.

Pro tip: Track BTC.D on TradingView and overlay it with ETH/BTC. When the purple dots align? Get your meme bags ready. What's your take—ETH to $10k by spring, or more chop ahead? Drop your thoughts in the comments, and let's meme this bull run together.

Stay froggy, traders. The dominance flip is coming.