Memecoin whales’ activity suggests a deliberate move to trigger FOMO.
The whales are influencing mini breakouts across multiple memecoins.
DOGE, PEPE, WIF, and BONK all experienced mini breakouts this weekend.
Data from Santiment, a market analysis platform, has revealed a developing trend among memecoins in the cryptocurrency market. In a recent post on X, the platform showed how larger wallets in the memecoin sector are working to trigger a notable dynamic across some memecoins to prepare the market for profit-taking.
🐶🐸😺 Meme coins are quietly having more mini breakouts this weekend. For coins like Dogecoin, Pepe, Dogwifhat, and Bonk, the larger wallets could continue to pump market caps longer until retail FOMO returns. Once the crowd catches wind and get greedy, the larger wallets sell… pic.twitter.com/KD9OeqnaBe
— Santiment (@santimentfeed) December 8, 2024
According to Santiment’s recent post, larger wallet holders triggered mini breakouts across multiple memecoins. Their aim in doing so is to influence the market caps of memecoins like Dogecoin (DOGE), Pepe (PEPE), Dogwifhat (WIF), and Bonk (BONK). These large wallet holders do this to at…
