Altcoins News

Story: Memecoins Tank Hard as Santiment Sees Possible Bottom Signal

By Pankaj K

1 / 15

Memecoins got crushed recently. But Santiment thinks the bloodbath might be setting up for a turnaround, based on classic market signals they're tracking across social media and…

2 / 15

The market analysis firm dropped a note on February 15 saying all the doom-and-gloom chatter about meme tokens could actually mean we're hitting capitulation.

3 / 15

The total memecoin market cap fell 34% over 30 days, landing at $31 billion according to CoinMarketCap.

4 / 15

The usual crypto playbook might not work this time around. You know how it goes - Bitcoin pumps, then Ethereum follows, then altcoins go wild.

5 / 15

Big names took serious hits. Dogecoin (DOGE) broke below key support levels that traders were watching.

6 / 15

Official Trump (TRUMP) crashed hard after its initial surge when it launched. The token's tied to President Donald Trump, but high concentration in just a few wallets made it…

7 / 15

Contrarian investors are eyeing all this negativity as a potential buy signal. Social media's full of bearish takes right now, which historically can mark market bottoms.

8 / 15

Elon Musk's tweets still move these markets, at least temporarily. On February 12, he posted a meme that some people read as a Dogecoin reference, which briefly boosted trading…

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Glassnode put out analysis on February 14 looking at historical patterns. Their data shows similar market conditions eventually led to recovery phases for certain tokens in past…

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Traders are watching economic data releases for clues about what's next. The Federal Reserve's interest rate decision coming in March could shift broader market sentiment,…

11 / 15

Binance reported something interesting on February 13 - trading volume for memecoins actually jumped despite the downturn.

12 / 15

Jane Street adjusted its crypto trading strategies on February 14 to account for memecoin craziness.

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CryptoQuant's February 15 report showed memecoin funding rates on major exchanges went negative.

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New projects keep launching despite the mess. CatCoin debuted on February 16, with the team saying they're not worried about current sentiment.

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Kraken announced it's listing a new memecoin called BARK on February 20, betting that investor appetite for high-risk plays remains alive.

The Currency Analytics

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