While the cryptocurrency market has been fluctuating lately, meme coins have experienced a rise that will surprise investors. According to data from well-known analysis companies such as Santiment, some memecoins such as PEPE coin made their mark in the last two days with increases of up to 75%. Meme coins generally got their share from Bitcoin’s rise. Because the leading cryptocurrency reached its highest level in recent years, exceeding $ 57,000. However, Santiment warned about the rise in meme coins. Here is Santiment’s warning…
Santiment warns against PEPE coin and these 2
While the cryptocurrency market has been fluctuating lately, meme coins experienced a rise that surprised investors today. According to data from well-known analysis companies such as Santiment, some memecoins made their mark on the day with increases of up to 75%. According to the information shared by Santiment analysts, the prominent names among memecoins are:
- PEPE: It has taken the lead among meme coins, rising by over 60% in the last 24 hours.
- FLOKI: It made its investors happy with an increase of 44%.
- WIF: It became one of the noteworthy meme coins with a 43% increase.
Analysts interpret the sudden rises in such meme coins as “FOMO” (Fear of Missing Out). FOMO means investors panic buying out of fear of missing out on an uptrend. Santiment analysts emphasize that such emotional investments are risky and investors should be careful.
Bitcoin $57,000
There is a separate catalyst for the rise of meme coins: the rise of Bitcoin. cryptokoin.com As we reported, the BTC price reached its highest level in recent years, rising above $57,000. BTC, which rose to an all-time high of $69,000 in 2021, is still trading below this record level. However, considering its past performance, it is quite close to its record.
So, cryptocurrency market experts warn that the rise of meme coins could be a temporary wave of FOMO. According to experts, it would be better for investors to stay away from such risky investments and focus on solid and well-established projects. Bitcoin exceeding $ 57,000 is interpreted differently by analysts. Some analysts suggest that this rise is evidence of a bull market. Others point to the potential for a larger decline to be on the way.
As a result, the cryptocurrency market is experiencing more volatility than ever before. It is of great importance for investors to make conscious investments and take risks into consideration in such a volatile environment. Without getting caught up in the waves of FOMO, turning to solid and well-established projects will be the best strategy for long-term success.
To be informed about the latest developments, follow us Twitter’in, Facebookin and InstagramFollow on . Telegram And YouTube Join our channel.