The meme's wild rise is about to end
In a statement, Santiment stated that a sudden increase in trading volume of mem tokens such as SHIB, PEPE, FLOKI and BONK could mean that the price of mem tokens could reverse.
While Bitcoin (BTC) and meme tokens like Shiba Inu (SHIB), Dogecoin (DOGE), Pepe coin (PEPE) saw massive gains, some investors turned this into an opportunity and started selling for profit profit.
While meme tokens are surging, with further gains expected, Santiment said investors should be careful with meme tokens.
Santiment said the trading volume of several mem tokens has increased significantly, which attracted particular attention last week.
Said meme tokens such as SHIB, PEPE, FLOKI and BONK have seen an extraordinary increase in trading volume with an average increase of over 3,000% in the last week alone.
According to Santiment, the sudden increase in trading volume led to increased prices and increased community interest in these meme tokens.
Santiment argues that the sudden increase in trading volume, combined with an increase in social volume, could be an important indicator of a possible price reversal in the coming days.
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