The Dogecoin (DOGE), PEPE, and SHIB rally could be an early sign of an impending altcoin season.

However, the report noted that timing altcoin season is a “risky sport” because Bitcoin ETFs have transformed the cryptocurrency investment landscape and there is no guarantee that funds flowing into Bitcoin will eventually flow into smaller assets. “There is enough risk appetite to send a select few altcoins in large numbers, but we are yet to see a new retail wave entering the altcoin space to create a bull run that lifts all boats,” K33 said.