Let me tell you, the crypto community is on fire. It’s got all the subtlety of a Saturday night at the racetrack, everyone’s rolling the dice and hoping for a big score.
We’re talking about memecoins, tokens that make Dogecoin look like a blue-chip stock.
Santiment shared that online chatter about these high-risk coins just hit a year-to-date high.
Speculation
Just a couple weeks ago, all eyes were glued to Bitcoin and big-name layer-1s, especially when Trump’s tariff circus sent markets spinning.
But now? The crowd’s moved on. It’s all about the memecoins with the fattest market caps. Brian Quinlivan from Santiment says traders are adopting a gamble mindset.
Translation, forget strategy, just throw your chips on the table and pray for a miracle. Now, I’m not a trader, but this is probably how one can lose the house, just saying.
The whole crypto market jumped 10% in the last eight days, but Bitcoin only managed 7%. That means the real action is in the riskier stuff.
When Bitcoin stops making big moves, people get bored-they want fireworks, not a slow waltz. So they pile into the craziest bets they can find, hoping to hit the jackpot.
Woof woof
Dogecoin, the OG of memecoins, is back in the spotlight. After a quiet April, DOGE is suddenly the talk of the town again, thanks to a flurry of ETF applications in the US.
The SEC’s dragging its feet, delaying any real decisions until mid-June, but that hasn’t stopped the hype train.
Dogecoin’s social dominance is at its highest in three months. Everyone wants a piece, even if nobody knows what’s coming next.
Over at PumpSwap the numbers are off the charts. In April, trading volume exploded to $11 billion, up from a humble $1.7 billion in March.
Pump.Fun, the launch platform, also saw its monthly volume jump to $3.3 billion. It’s like everyone suddenly remembered where the slot machines are.
Losses
But this isn’t a fairy tale. Earlier this year, memecoin fever cooled off hard.
After Trump’s own memecoin launch in January sent volumes to $3.3 billion a week, the party crashed, thanks in part to disasters like the Libra token, which tanked so badly it made investors swear off memes for a while.
So, what do we got? A market full of gamblers, a handful of lucky winners, and a lot of people praying their next bet isn’t a rug pull. I don’t know, I’d skip this one if I were you, but that’s just me.
Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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