Recently, several well-known meme coins in the cryptocurrency market have seen their prices go up. These meme coins, such as Dogecoin, Shiba Inu, Apecoin, and Pepe, have been performing better than Bitcoin and many other alternative cryptocurrencies.
A crypto analysis platform called Santiment has reported that these meme coins are gaining more attention and their values are on the rise.
According to Santiment, as of now, Dogecoin (DOGE) has gone up by 2.25% and is priced at $0.0771. Shiba Inu (SHIB) has seen an 8.42% increase, reaching $0.00001088. Apecoin (APE) has gone up by 8.82% to $2.01, and Pepe (PEPE) has risen by 7.42% to $0.000001327.
Santiment has observed that these meme coins started to show signs of improvement since Wednesday and have continued to do well. The platform suggests that there could be a coordinated effort by certain traders or groups to boost the prices of these popular meme coins, especially as the weekend approaches.
Chart showing the daily rise experienced in SHIB price.
However, Santiment raises a caution that these price changes might not be sustainable over a long period. These shifts are often linked to the emotions of crowds driven by either greed or boredom.
The platform points out that there hasn’t been a significant increase in social discussions or interactions about these meme coins. This could suggest that the wider public might not be fully aware of or interested in these coins at the moment.
Important:Â Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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