The considerations over meme coin season have elevated, as witnessed by the unstable buying and selling with many prime cash like DOGE, SHIB, WIF, and others, persevering with their declines as we speak. Meanwhile, the decline comes amid a depressing sentiment famous within the broader crypto market, indicating a shifting market focus. Besides, a latest Santiment report confirmed that the market curiosity seems to be shifting from the meme area, sparking considerations that the meme season is over.
DOGE, SHIB, WIF, & Other Meme Coins Slip
Top meme coins like Dogecoin (DOGE), Shiba Inu (SHIB), dogwifhat (WIF), and others have continued their declines over the previous week. Amid this, Santiment highlighted a brand new pattern which signifies that the market fans are shifting their focus from the sector to different altcoins.
For context, in a latest X submit, Santiment revealed a big shift in crypto market sentiment. The report famous that buyers have quickly turned bearish over the previous two weeks, which can also be evidenced by the latest unstable buying and selling situation recorded within the broader crypto market.
Meanwhile, as market corrections intensify, notably among the many top altcoins, curiosity in meme cash season has waned, Santiment famous. At the identical time, the declining curiosity within the altcoins sector has resulted in elevated concentrate on Bitcoin.
Santiment views this pattern as a wholesome market cycle, presenting alternatives for affected person merchants to capitalize on the present ‘blood in the streets’ situation. In different phrases, the crypto market FUD and this latest pullback might present a shopping for alternative to buyers within the coming days.
How’s The Meme Coins Performing & What’s Next?
The broader meme phase has recorded a decline as we speak. So, right here we discover a number of the prime cash and see how the crypto may carry out within the coming days.
Can DOGE Rally To $18?
Dogecoin price today was down about 2% and exchanged arms at $0.3164, whereas its buying and selling quantity plunged 24% to $4.16 billion. Notably, the crypto has touched a excessive of $0.324 and a low of $0.3033 within the final 24 hours. Furthermore, DOGE Futures Open Interest declined 6% to $1.95 billion, CoinGlass knowledge confirmed.
Despite that, prime crypto market analyst Ali Martinez just lately shared a bullish forecast for DOGE. In a latest X submit, Martinez cited Dogecoin’s historic run and mentioned that the crypto might rally to $18 forward, “If history repeats.”
Shiba Inu (SHIB), WIF, & Other Meme Coins
Shiba Inu price today was down over 1% to $0.00002183, and its one-day buying and selling quantity plummeted 23% to $678.92 million. However, the latest Shibburn knowledge confirmed a spike of 404% within the Shiba Inu burn charge during the last 24 hours, indicating a bullish momentum forward. For context, the token burns assist in decreasing the provision of the tokens, which in flip might increase the asset’s worth.
In addition, standard market skilled Dollars Maker in a TradingView analysis mentioned that SHIB might rally 235% forward to $0.00005816. Besides, a latest Shiba Inu worth evaluation confirmed that the coin might goal the $0.000025 resistance forward if bullish momentum builds.
On the opposite hand, WIF worth declined over 2% to $1.93, after hovering previous the $4 mark in early December. However, regardless of the decline a latest evaluation from Rose Premium Signals signifies that the top Solana meme coin might hit the $6.4 mark forward, sparking market optimism.
Meanwhile, a number of the cash within the sector have maintained their place within the inexperienced regardless of the latest downturn. For context, PEPE and PENGU had been up about 1% and a couple of%, respectively, indicating that the meme coin season shouldn’t be but over.
Rupam Roy
Rupam is a seasoned skilled with three years of expertise within the monetary market, the place he has developed a repute as a meticulous analysis analyst and insightful journalist. He thrives on exploring the dynamic nuances of the monetary panorama. Currently serving as a sub-editor at Coingape, Rupam’s experience extends past typical boundaries. His position entails breaking tales, analyzing AI-related developments, offering real-time updates on the crypto market, and presenting insightful financial information.
Rupam’s profession is characterised by a deep ardour for unraveling the complexities of finance and delivering impactful tales that resonate with a various viewers.
Disclaimer: The offered content material could embrace the non-public opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any duty to your private monetary loss.
