Bitcoin (BTC) And Shiba Inu (SHIB), Dogecoin (DOGE), Pepe coin (PEPE) While mem tokens such as Mem Tokens experienced great increases, some investors turned this into an opportunity and started selling profits.
Meme tokens receiving support from broader market rally and further upside expected centimetersaid investors should be careful about mem tokens.
At this point, Santiment said that there was a significant increase in the trading volume of some mem tokens, which especially attracted attention last week.
SHIB, PEPE, FLOKI and BONK Stating that mem tokens such as have witnessed an extraordinary increase in transaction volume with an average increase of over 3,000% in the last week alone, Santiment claimed that this sudden increase could mean a potential return in the price of mem tokens.
According to Santiment, the sudden increase in trading volume translates into a rising price and increased interest from the community in these meme tokens.
At this point, Santiment argues that the sudden increase in transaction volume, combined with the increase in social volume, may be an important indicator of increased volatility and potential price reversals in the coming days.
“Mem tokens, especially those that have been trending in the past week, have seen trading volumes skyrocket due to rising prices and increased interest.
On average, SHIB, PEPE, FLOKI and BONK saw +3,000% volume growth last week.
“When you combine a sudden increase in trading volume and a sudden increase in social volume in any asset, memecoin or other altcoin, this can be considered a significant volatility and price reversal indicator for that asset.”
📈 #Memecoins, particularly those that have been trending over the past week, have skyrocketed in trading volume due to surging prices and increased crowd interest. on average, $SHIB, $PEPE, $FLOKIand $BONK has seen volume rise +3,000% in the past week. https://t.co/MMHxbMotu0 pic.twitter.com/AiIaEbgGIz
— Santiment (@santimentfeed) March 4, 2024
*This is not investment advice.
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