#MemecoinSentiment
MemecoinSentiment reflects the community's sentiment towards "memecoin" cryptocurrencies like Dogecoin and Shiba Inu. These coins are not based on strong technological foundations, but mainly rely on the allure from social media, celebrities, and the FOMO trend. When positive emotions spread, the price of memecoins skyrockets even without clear intrinsic value. Conversely, negative sentiment can cause prices to plummet quickly. Therefore, MemecoinSentiment plays an important role in assessing risk and timing of trades. Investors need to stay alert and not chase after fleeting emotions.
