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Analysis Company Warns: "These Four Altcoins Could Pump First, Then Dump"
Cryptocurrency analysis company Santiment addressed the recent movement in memecoins in its latest post.
According to Santiment analysts, memecoins saw numerous low-scale rallies over the weekend. In addition, the analysis firm cited four altcoins as examples. According to analysts, Dogecoin (DOGE), Pepe (PEPE), Dogwifhat (WIF), and Bonk (BONK) may continue to pump their market values until large cryptocurrency wallets and individual FOMO traders return.
According to Santiment, as a result of these pumps, large cryptocurrency wallets may sell and prices may retract shortly as community interest increases and greed feelings swell.
This year, the cryptocurrency market witnessed a rally in meme coins. Especially in the Solana ecosystem, with the influence of the meme coin launch platform PumpFun, there has been an increase in both the number of meme coins and the number of people trying to profit by accessing these meme coins early. The increase in meme coins in Solana is due to the low cost of launching tokens on the blockchain and its speed compared to Ethereum.