While the rise in Bitcoin this week has also energized altcoins, memecoins in particular have become the center of attention with significant price increases.
While some of the memecoins attract more attention, data analysis platform Santiment announced 6 memecoins that stood out with the rise of Bitcoin.
Stating that these are Dogecoin (DOGE), BONK, Shiba Inu (SHIB), PEPE, FLOKI and Dogwifhat (WIF), Santiment said that BONK and DOGE stand out.
Santiment, who stated that DOGE increased by 12% and BONK by 13% on Wednesday and was the center of attention, shared that SHIB, PEPE and WIF increased by 4% and FLOKI by 5%.
Finally, Santiment emphasized that altcoins can continue to rise and gain value if the crowd’s FOMO does not disrupt the flow. Accordingly, positive market sentiment is needed to continue the bullish trend.
“Memecoins like Dogecoin (+12%) and Bonk (+13%) made major news on Wednesday, with spikes in price across the industry.
As Bitcoin profits are redistributed, speculative assets continue to move.
Altcoins can continue to grow as long as crowd FOMO doesn't get in the way.”
🐶🤕 Meme coins like Dogecoin (+12%) and Bonk (+13%) have been major stories Wednesday, with spikes in prices across the sector. Speculative assets continue churning as Bitcoin profits get redistributed. Altcoins can continue to grow as long as crowd FOMO doesn't get in the way. pic.twitter.com/hLMDr0tzke
— Santiment (@santimentfeed) October 16, 2024
*This is not investment advice.
