Meme coins DOGE, SHIB and WIF lost value
Market interest has waned, according to Santiment report
Some analysts have noted that there are opportunities in meme coins
The ongoing declines in the meme coin market have raised concerns among investors. Popular meme coins Dogecoin (DOGE)$DOGE
, Shiba Inu (SHIB) and Dogwifhat (WIF) have recently experienced value losses. While a general stagnation is observed in the cryptocurrency market, it is noteworthy that interest in meme coins has decreased. According to the latest report published by Santiment, investors have started to turn from meme coins to other altcoins.
Leading meme coins like DOGE, SHIB, and WIF have seen significant declines in the past week. DOGE lost 2% to $0.3164, while SHIB fell more than 1%. During the same period, WIF$WIF
has also lost over 2%. However, some analysts say that despite these declines, meme coins have the potential to recover in the future. Santiment evaluates the change in market sentiment as a natural process and emphasizes that it can present opportunities to patient investors.
Santiment offers a positive outlook to investors by making an assessment that “Market FUD and recent pullbacks may create buying opportunities.” In particular, the 404% increase in Shiba Inu’s token burn rate stands out as a factor supporting future price increases due to reduced supply. However, ongoing fluctuations in the broad crypto market are negatively affecting the meme coin segment.
Santiment reports that investor sentiment in the crypto market has turned negative in recent weeks, and corrections in altcoins have dampened interest in meme coins. However, smaller meme coins like PEPE and PENGU have gained between 1% and 2% in value, a sign that the meme coin season is not completely over.
Some analysts predict that Dogecoin could reach $18 in the future, based on its past performance. These predictions offer investors the opportunity to develop new strategies. However, the uncertain nature of the market requires careful analysis and strategy. Santiment advises investors to follow market movements carefully.
In conclusion, the fluctuations in the meme coin market pose both opportunities and risks for those investing in this area. The future of meme coins seems to continue to shape depending on market dynamics.