“Online discussions around memecoins have hit a year-to-date high according to onchain analytics platform Santiment. The shift in sentiment from Bitcoin and layer-1 protocols to memecoins comes as traders embrace a higher-risk, speculation-based mindset. The overall crypto market rise of 10% contrasts with Bitcoin’s gain of 7%, suggesting traders are increasingly moving towards riskier assets like Dogecoin. With increased interest and applications for DOGE ETFs, and a significant rise in trading volumes for decentralized exchanges like PumpSwap, this article sheds light on the changing landscape of memecoin trading.”
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