The ongoing declines in the Memecoin market worry investors. dogecoin $0.137064 Popular meme coins such as (DOGE), Shiba Inu (SHIB), and dogwifhat (WIF) have continued to lose value in recent days. While there is a general stagnation in the crypto market, it is observed that interest in meme coins is decreasing. According to Santiment’s latest report, market interest has shifted from meme coins to other altcoins.
Downtrend in Memecoins
Leading meme coins such as Dogecoin, Shiba Inu and WIF have experienced significant declines in the last week. DOGE lost 2% to $0.3164, while SHIB fell over 1%. During the same period, WIF saw a depreciation of over 2%. However, some analysts emphasize the possibility of a future recovery despite the declines. Santiment considers the change in market sentiment as a natural cycle and states that this situation can present opportunities for patient investors.
Santiment expressed a positive perspective by saying, “Market FUD and recent withdrawals may create buying opportunities.” In particular, the 404% increase in the token burn rate strengthens the expectation that Shiba Inu may experience a price increase in the future due to a decrease in supply. In contrast, fluctuations in the broader crypto market are negatively impacting the meme coin segment.
Market Recession and Future Expectations
Reports from Santiment reveal that investor sentiment in the broader crypto market has turned negative in recent weeks. Market corrections in altcoins have led to a decrease in interest in meme coins. However, some meme coins such as PEPE and PENGU maintained their positions, gaining 1% and 2%. This indicates that meme coin season is not completely over.
Some analysts predict that Dogecoin may reach $18 in the future, based on its past performance. These predictions offer investors the opportunity to develop new strategies. However, the structure of the market full of uncertainties requires careful analysis and strategy. Santiment invites investors to follow market movements closely.
As a result, fluctuations in the meme coin market present opportunities and risks for those investing in this area. It seems that the future of meme coins will continue to be shaped depending on market dynamics.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
