Meme coins surge as Bitcoin profits shift into speculative assets like Dogecoin, Bonk.
Dogecoin shows bullish momentum, key support at $0.120, resistance at $0.126.
Bonk gains 7.21%, strong support at $0.000024, resistance at $0.000025 for further upside.
Meme coins are making a comeback, with Dogecoin (DOGE) and Bonk (BONK) leading the way. On Wednesday, DOGE and BONK saw price increases of 12% and 13%, respectively, according to data from analytics firm Santiment. This surge in speculative assets comes as Bitcoin profits flow into altcoins.
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
Other meme coins like Shiba Inu (SHIB), Pepe (PEPE), and Floki (FLOKI) also posted gains, though more moderate, in the 4% to 5% range. While Bitcoin remains dominant, its social volume increased by only 3.15%, while Ethereum (ETH) saw a 13.49% drop in social sentiment. The f…
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