- Memcoin whale exercise suggests a deliberate transfer to trigger FOMO.
- Whales are influencing mini-breakouts throughout a number of meme cash.
- DOGE, PEPE, WIF, and BONK all skilled mini-breakouts this weekend.
Information from market evaluation platform Santiment revealed the event tendencies of meme cash within the cryptocurrency market. In a current publish on I confirmed you what I used to be doing.
Based on Santiment’s current publish, bigger pockets holders have induced a mini-breakout amongst a number of meme cash. In doing so, their purpose is to affect the market capitalization of meme cash equivalent to Dogecoin (DOGE), Pepe (PEPE), Dogwifat (WIF), and Bonk (BONK). These massive pockets holders do that to draw retail buyers till worry of lacking out (FOMO) returns to the meme coin sector.
From Santimento's perspective, FOMO within the memecoin area will create a sense of greed that may appeal to extra retail buyers to the market and push costs greater. Giant pockets holders then bought their luggage, resulting in a normal exit of the meme coin market.
In the meantime, DOGE, the best ranked meme coin by market capitalization, has maintained its bullish momentum because the crypto market breakout on November fifth. Memecoin is up 241% within the present rally, with its value above $0.48 for the primary time since 2021. Based on TradingView knowledge, the highest meme coin is buying and selling at $0.4694 on the time of writing.
PEPE has adopted an analogous value development, rising 243% since November fifth. The frog-themed meme coin soared 32% this weekend to a brand new all-time excessive. Regardless of Santiment’s retracement prediction, PEPE displays notable momentum and suggests the next value goal given the meme coin is discovering new value ranges. .
In the meantime, following the crypto market breakout on November fifth, WIF skilled a 158% surge. Nevertheless, memecoin fell sharply earlier than resuming its upward development, whereas BONK regained momentum from a 243% rally and was buying and selling at $0.00004697 on the time of writing.
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