The general stagnation in the cryptocurrency market has particularly negatively affected the memecoin segment. Popular memecoins such as Dogecoin (DOGE), Shiba Inu (SHIB) and dogwifhat (WIF) have recently lost value. According to analysis, investors have now started to shift their interest from memecoins to other types of altcoins. This change in market sentiment has put serious pressure on the memecoin segment.
In the last week, DOGE$DOGE
, fell by 2% to $0.3164, while SHIB and WIF also fell significantly. However, market experts say that despite these declines, memecoins have the potential to recover. In the case of Shiba Inu, the sudden increase in the token burn rate has led to a decrease in supply, strengthening expectations for future price increases. Nevertheless, market fluctuations continue to put pressure on memecoins.
The report published by Santiment states that investors should act with caution due to the current uncertainties in the market. The report includes a warning that “Price declines may create opportunities,” but in general, the expectation of a sectoral recovery in the short term seems weak.
Although the general negative atmosphere in the cryptocurrency market has reduced the demand for memecoins, PEPE$PEPE
and smaller memecoins like PENGU have recently gained value and are promising for investors. This suggests that memecoins should not be completely ignored. Additionally, some analysts say that the long-term price expectations for Dogecoin are positive. For example, predictions that DOGE could rise to $18 in the future are attracting the attention of strategic investors.
The future of the memecoin market depends on investors’ ability to correctly analyze market movements and the general dynamics of the market. Although declines worry investors, there may be potential opportunities for those who are patient and conscious.