Rise of Memecoins in Crypto Market

Online discussions surrounding memecoins have surged this year, attracting attention after a previous decline in sentiment. According to Santiment, talks about Bitcoin and layer-1 protocols peaked during recent market volatility caused by tariffs. However, the focus has now shifted to high market cap memecoins. Santiment's Brian Quinlivan noted a rise in discussions about these risky tokens, indicating a shift towards speculative trading rather than calculated investments. The overall crypto market saw a 10% increase in the past eight days, with traders showing more interest in speculative assets. Notably, Dogecoin experienced a surge in positive sentiment following a decline in April, coinciding with the filing of DOGE ETF applications. Memecoin activity spiked after the launch of a memecoin by former President Trump, but interest waned due to failed launches. Pump.Fun's trading volume also saw fluctuations, reflecting the evolving landscape of memecoins in the crypto market. Read more AI-generated news on: https://app.chaingpt.org/news