According to the market intelligence platform Santiment, leading meme coins show signs of “mini breakouts.” These assets see notable spikes in their social activity over the last eight days.
Pepe, however, rallied to an ATH of Large meme coin holders would likely push the prices to create FOMO (fear of missing out) among retail investors to take profits potentially, per the Santiment X post.— Santiment (@santimentfeed) December 8, 2024
The problem with greedy market conditions is that there is usually a high chance of a selloff by whales. At this point, meme coins are likely to see high price fluctuations.
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Thanks to the recent upward momentum, the total meme coin market cap reached an ATH of 4 billion earlier today, according to data from CoinMarketCap.
Meme coins are gaining traction and whales are likely to push the assets further as the market cap hits a new all-time high.
While this is not the case with leading meme coins, they’re still highly vulnerable to social trends, FOMO and FUD (fear, uncertainty and doubt).
Meme coin market cap at new ATH
🐶🐸😺 Meme coins are quietly having more mini breakouts this weekend. For coins like Dogecoin, Pepe, Dogwifhat, and Bonk, the larger wallets could continue to pump market caps longer until retail FOMO returns. Once the crowd catches wind and get greedy, the larger wallets sell… pic.twitter.com/KD9OeqnaBe
Last week, the Hawk Tuah (HAWK) meme coin witnessed a sharp plunge in its market cap — from 0 million to million — within 20 minutes after its launch, crypto.news reported.
Dogecoin (DOGE), Pepe (PEPE), dogwifhat (WIF) and Bonk (BONK) are seeing greedy signals on social platforms, with Pepe dominating the social dominance chart.
Dogecoin and Shiba Inu (SHIB) are leading the pack with billion and .6 billion market caps with mild gains over the past 24 hours.
