Memecoins on the Rise, But Experts Warn of Potential Dip
Dogecoin (DOGE) and Shiba Inu (SHIB) are seeing a surge in popularity, with more people talking about them than in the last five months. This excitement is fueled by fear of missing out (FOMO), as traders jump on the bandwagon hoping to cash in on the hype. However, experts at Santiment warn that this could be a risky move.
Why the Warning?
Santiment points out that while memecoins can see short-term gains, history shows that it’s often better to invest in areas where there’s less hype. The current focus on DOGE and SHIB might mean investors are overlooking other potentially profitable projects.
Bitcoin and Litecoin: A Different Story
While memecoins are attracting attention, Bitcoin (BTC) is also on the rise. Santiment attributes this to a growing number of “whales” (investors holding large amounts of Bitcoin).
Litecoin (LTC) is also experiencing a mini-rally, thanks to increased on-chain transaction volume and renewed interest from the public.
The Takeaway
While DOGE and SHIB are currently in the spotlight, experts suggest investors should be cautious. The current hype might not last, and other projects could offer better long-term returns.
